A decade after apartheid white people, who make up 10% of the
population, still own and manage most of the country's assets and big
companies. With mining and financial corporations backing the
empowerment laws, barely a week passes without a company handing shares
and directorships to black people. The pace will quicken in the coming
months as all sectors of the economy, from tourism and transport to
healthcare and information technology, implement their transformation
strategies. Last year there were 189 empowerment agreements worth
£3.6bn. A code of conduct to be published soon should increase the
number, the trade and industry minister, Mandisi Mpahlwa, said. But
critics say the juiciest deals keep going to the same people,
invariably men with ANC connections. The most cited are Cyril
Ramaphosa, Patrice Motsepe, Tokyo Sexwale and Saki Macozoma. [more ]
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