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Johannesburg - The election of businesswoman Futhi Mthoba as Busa president is a blow to transformation, the Black Management Forum (BMF) said on Tuesday.
"It is a victory for the interests of established business," BMF deputy president Tembakazi Mnyaka said in a statement, following Mthoba's election as Business Unity SA's president earlier in the day.
She said business and its allies had won the day against "progressive forces".
"This makes a mockery of the unity process as now both the chairmanship and presidency of Busa are held by established business."
Mnyaka said it was "marginalisation of the have-nots by the haves".
The BMF would monitor the situation closely and evaluate its options, said its president Jimmy Manyi.
Since joining Deloitte Southern Africa in 1988, Mthoba rose through the ranks to become the first black female partner and deputy chairperson at the company.
She was also the first female president of the Association for the Advancement of Black Accountants of Southern Africa, a body dedicated to nurturing emerging black accountants.
She is a board member of a number of professional organisations, including the South African Institute of Chartered Accountants and the Public Accountants and Auditors Board, Financial Services Advisory Board and the Money Laundering Advisory Board, according to Deloitte Southern Africa's website.
- Sapa