Nominating For The Future
Celebrating Excellence in business
Transcend Talent Management is proud to be partnering with Financial Mail, more specifically, the “
Little Black Book”, which comfortably complements the Transcend eco-system.
Names like Professor Wiseman Nkuhlu, Moses Kgosana, Cyril Ramaphosa, and Ruel Khoza,spring to mind when reflecting on the black economic empowerment journey to date. They were among the many trailblazers of black business success.They confounded the sceptics and converted political capital into economic gain through primary level ownership transactions in corporate SA. Just as significantly they still contribute positively to transformation.
Broad-based BEE was launched in the early 2000s as a driver to redress apartheid’s socio economic legacy. The first BEE codes of Good Practice — developed to address the limited participation of black people in the economy– were published by the Department of Trade and Industry in 2003.
By the end of 2013, black South Africans owned at least 23% of shares on the JSE — 10% of which were directly owned by black investors (largely through BEE schemes), with the balance indirectly institutionally owned (like pension funds).
Employment Equity and BBBEE, together, had moderate success in boosting the size and performance of the black professional sector. Black influence has also visibly increased at the highest levels of corporate SA.
But many major transformation challenges remain. Business Tech research shows that 72% (386) of the 537 directors on South Africa’s Top 40 listed company boards are white. The number of black CEOs running the top 40 JSE listed companies actually declined from 15% in 2014 to only 10% in 2015. And, the Jack Hammer Executive Report says, only 21% of the 334 people that make up the executive teams running SA’s top 40 companies are black.
The re-launch of the Black Book, heralds the achievements of a significant cross section of business leaders who have, against formidable odds, attained admirable levels of success.
A handful of individuals have, through adaptation combined with traditional corporate hard work in a meritocracy, successfully leveraged their skill and capability into economic opportunity. The book celebrates these individuals given that despite all the necessary stimulants, BBBEE has not delivered the expected higher numbers of black business leaders as part of the process of transforming our country.
The recognition of these individuals is not only for their own sakes but also as inspirational role models for young aspiring black South Africans. It also encourages entrepreneurship through stimulatory programmes like the Black Industrialist programme.
Finally, the “
LITTLE” in “ Little Black Book” has been deliberately erased because there’s nothing small about the achievements of SA’s black professionals since 1994. Our ambition for future black books is for them to highlight levels of excellence that see black and white business seated at the same table of recognition.
The powerful stories represented in the book, speak of ethical business leaders who while focused on personal wealth also have a positive social impact on their communities and in the international business.
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