This was the echoing sentiments among the first speakers at the Black Business Council summit held in Bryanston, Johannesburg, on Wednesday.
“What has happened… has been a corporate restructuring by mainly white-owned companies to accommodate a few black South Africans as co-owners of their entities. We need economic restructuring not corporate restructuring which has failed. We need a plan to transfer at least 70% ownership and management of the economy into black hands by 2030,” Zungu said.
Hold on, BlackBusinessCouncil proposing transfer 70% of existing businesses to black hands in 9 years time? Are they totally useless to not propose creating NEW black businesses so that they meet that target? expand the pie to create new jobs and expand economy, makes more sense
Dream on. 🤦♂️
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