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Manuel: SA must deracialise

Aug 18 2006 21:32

Johannesburg - The boardrooms of South Africa's top companies are still too pale and too male, according to Finance Minister Trevor Manuel.

Delivering the David Wynne Lecture at Somerset College in the Western Cape, Manuel said that, as part of building a democracy, the country had to ensure that it deracialised the ownership of the economy which, under apartheid, vested almost exclusively in the hands of white men.

"Twelve years after the establishment of democracy, the picture is still not very pretty," he asserted. "If we look at the statistics for Directors of the Top 100 Companies in South Africa - there are 27nbsp;489 Directors, of whom 202 are women (105 White Women and 97 Black women) and of remaining 2 287 Directors, 351 are Black men. In other words, 1 936 of the 2 489 Directors are White men. And, of all the 384 companies listed on the Johannesburg Stock Exchange, only 1% have women as Chief Executive Officers.

"The same holds true for certain professions, such as Chartered Accountants, of whom there were 25 346, at last count. Of the total, only 5 827 (23%) are women, and of this number, 4 826, or 83% are White Women. Of the 19 519 male Chartered Accountants, 17 600, or 90% are White men," Manuel added.

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cd
Aug 07 2007 08:56 Report this comment

If this really is what he said, Mr Manuel is off target here. Firstly one has to choose to be an accountant, then go through a course of study and finally pass the requisite exams. It is not just a question of appointing people to a position, whether competent or not. If the balance of people wanting to enter the profession does not not meet the governments criteria, either for race or gender, then so what, the situation cant be forced other than to say "you will study accountancy" followed by "you will pass this candidate " regardless of talent. I am not an accountant, but my observations of empowerment placings in the engineering field make me confident that the quality of any profession will only go down if this attitude is to hold sway.

KAROOSEUN
Aug 07 2007 08:56 Report this comment

One wrote if you are not,with us,or something close,fly to Perth,please do not tell them that,as we have enough expat racists,living over here,and they came here and brought their racism with them,when they left on the CHICKEN RUN

Nick
Aug 07 2007 08:55 Report this comment

I'm a coloured male working in an accounting environment, and I find it quite amusing sometimes to watch the finger-pointing between white and black. I agree that blacks should be given opportunities, but ONLY if they are capable of doing the job. At the moment in our company (one of the largest in the country), certain BEE candidates are being given opportunities to make bucket loads of cash, for doing very very little, simply because they lack the knowledge to do the job and do it well. So if the black guy can do the job well then give it to him, but I'd rather see a white guy in that position than a black guy that can't do the job. At the end of the day, as a coloured male, you consistently find that you are too white to be black and too black to be white. So I guess well just stay in the middle of EQUALLY racist governments - be they white or black.

sad
Aug 07 2007 08:55 Report this comment

I left South Africa in 1966 because of the White racist government. The Africans have learned well from the Nationalists and you now have a black racialist government. Only the colour has changed. The colour of those in power in industry will take generations to change. Black Africans were denied education until twenty years ago and people expect them to take over highly technical skills with virtually no experience. No wonder there is a 35% unemployment rate and uncontrollable crime.

KAROOSEUN
Aug 07 2007 08:55 Report this comment

As an expat,,but still with the interest,in what is going on over there,by reading all South African newspapers,on a daily bases,and listening to talkback on radio,and hearing from,those who where there,and most of all my family connections,I have come to a final decision tp pass comment,as a former resident,who was part of the then opposition,the United Party,that was rejected at the polls,but who had better policies,as to where South Africa could go,having in mind to include fairness to all South Africans in our policies,but the Nats was chosen,and that was the begining of all the problems the country is facing today,and that is because,the present rulers,the ANC,who took over the reins of government,from the party,that ruined South Africa the Nationalists,has just,changed the name from Nationalists to ANC,and there is no difference,instead of White Apartheid,it is now Black Apartheid

Al
Aug 07 2007 08:52 Report this comment

I admire Trevor for his financial ability, those who condemn him have to check his track record for getting finance that would have been lost. He has made South Africa progressively richer since he took charge.

Ryno
Aug 07 2007 08:52 Report this comment

They certainly like kicking the sheep thats doing the Job

Philemon
Aug 07 2007 08:52 Report this comment

John you are a moron if you think a solution to transformation in South Africa is to fire 2000 of South Africas most experienced business leaders. Retaining their knowledge in our economy is essential for a healthy economy and for transformation. Transformation begins at a Grassroots level and we have to remain patient as South Africas people of colour are educated and promoted through the ranks. Your foolish comments aggrevate an already sensitive situation. I agree that equality is the ultimate goal but making rash decisions will create many other problems.


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