No longer aimed at the huge enrichment of the connected few, BEE is on track for a much broader spread of wealth, with employee share schemes gaining increasing traction.
Less than 30 years after the first major transaction was concluded, BEE has moved onto a distinctly different trajectory. It’s no longer about the huge enrichment of a relative handful of well-placed individuals, but the slight enrichment of a much broader range of individuals, as recent empowerment deals by Capitec and Shoprite highlight.
In 1993, more than 10 years before the corporate community came face-to-face with the first BEE legislation, Sanlam rushed to complete the sale of its stake in Metropolitan to a little-known entity called New Africa Investments Ltd ...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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