Saturday, 20 March 2010
SA blacks much richer than claimed by ANC-regime...
07:36 | 
Posted by Censorbugbear | 
Black ownership at JSE at 23,8 percent; pension funds at 47,4%… not 5% as claimed by ANC…
March 20 2010 - Trade union Solidarity says the black-economic empowerment (BEE) laws are creating a flourishing black middle-class: for instance 23,8 percent of the companies on the Johannesburg Stock Exchange now are black-owned as are 44,9% of the medical insurance policies and 47,4% of the pension-funds.
For explanation of demonisation of all whites – which is the underlying motivation for the BEE-laws: watch this YouTube video:
South Africa is the only country in the world which has felt the need to create laws to limit the survival-rights of the small ‘white’ minority. And the ANC-regime ‘s benchmark -- when they will stop applying BEE-laws which bar most whites from the labour market -- was set at 40% black-owned wealth in South Africa. Solidarity trade union says this benchmark now is approaching rapidly and a deadline must now be set to end BEE…
The union’s black empowerment head researcher Johan Kruger said this week that black ownership on the JSE alone had already increased by about 18% in the past 13 years to 23,8% – not by the five percent which is so popularly cited by the ANC-regime whenever they want to back up their claim that ‘the pace of transformation was painfully slow’. The ANC still continues to cite statistics dating from 1993…
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Picture: Although there’s a dire shortage of qualified teachers, nurses, municipal engineers; doctors, clerks and administrators in South Africa, this well-educated Afrikaner woman on the left remains homeless and unemployable because of BEE: Solidarity this week submitted its findings that with a flourishing black middle-class now owning more than 40% of the country’s pension funds, insurance policies and unit trusts, the ANC must set a deadline to end the BEE process: the Afrikaner working-class is unable survive with their families and growing desperately destitute: more than 1-million of the 3-million Afrikaners now are homeless and unemployable despite their often higher qualifcations, only because they aren’t allowed to work for their own survival in the SA job market as ‘whites’: South Africa is the only country in the world which has actually created laws to limit all the survival-rights of the highly vulnerable Afrikaner minority – referred to as the ‘previously advantaged class’. They apply the BEE-laws even to the children of Afrikaners born after the end of apartheid in 1994.Access Solidarity trade union report’s latest report on White Poverty
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Kruger: “Black ownership on the JSE was at 23,8% in 2008, compared to the nearly five percent 1993. In addition, the SAT Monitor shows that ownership is expected to increase to as much as 34% within the next two years. Thus black ownership (‘i.e. companies owned by black-African, coloured and Indian-South African citizens’) have increased by 18% on the JSE over the past thirteen years. “This increase shows that the application of the black economic empowerment laws are of considerable benefit to black South Africans,’ he said.
Medical insurance policies are 44,9 % black-owned; pension funds 47,4 %…
The Solidarity BEE-monitor-study investigates black participation in and ownership of financial products such as investments, loans, life policies, annuities, pension funds, and medical and funeral policies.
As far as unit trusts are concerned, ownership is currently in the hands of nearly 1,59 million adults. Although unit trusts are still in the hands of a small elite group, the ownership is currently divided into 59% for whites and 41% for blacks.
“A reliable standard for measuring the economic advancement of black South Africans is essential,” Kruger explained. “There are people who believe that BEE should be implemented more intensively because the wellbeing of all black South Africans has not really improved.
Promotion of black middleclass much greater than recognised…
n February SA’s deputy-president Kgalema Motlanthe had still cited the ANC government’s old statistic of 5% ownership on the JSE. However this dates from 1993, and the apartheid era ended in 1994. Motlanthe used the old statistics while emphasing in a speech that ‘the pace of transformation had been painfully slow," said Kruger – but this five percent statistic was false, he noted.
However the Department of Trade and Industry has reacted with disdain to Kruger’s findings -- issuing a statement slamming Solidarity‘s findings and announcing that they have no intention of introducing any kind of deadlines to end BEE.
The ANC-regime has set a benchmark of 40% – which is the percentage of businesses in South Africa which have to be black-owned.
March 20 2010 - Trade union Solidarity says the black-economic empowerment (BEE) laws are creating a flourishing black middle-class: for instance 23,8 percent of the companies on the Johannesburg Stock Exchange now are black-owned as are 44,9% of the medical insurance policies and 47,4% of the pension-funds.
For explanation of demonisation of all whites – which is the underlying motivation for the BEE-laws: watch this YouTube video:
South Africa is the only country in the world which has felt the need to create laws to limit the survival-rights of the small ‘white’ minority. And the ANC-regime ‘s benchmark -- when they will stop applying BEE-laws which bar most whites from the labour market -- was set at 40% black-owned wealth in South Africa. Solidarity trade union says this benchmark now is approaching rapidly and a deadline must now be set to end BEE…
The union’s black empowerment head researcher Johan Kruger said this week that black ownership on the JSE alone had already increased by about 18% in the past 13 years to 23,8% – not by the five percent which is so popularly cited by the ANC-regime whenever they want to back up their claim that ‘the pace of transformation was painfully slow’. The ANC still continues to cite statistics dating from 1993…
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Picture: Although there’s a dire shortage of qualified teachers, nurses, municipal engineers; doctors, clerks and administrators in South Africa, this well-educated Afrikaner woman on the left remains homeless and unemployable because of BEE: Solidarity this week submitted its findings that with a flourishing black middle-class now owning more than 40% of the country’s pension funds, insurance policies and unit trusts, the ANC must set a deadline to end the BEE process: the Afrikaner working-class is unable survive with their families and growing desperately destitute: more than 1-million of the 3-million Afrikaners now are homeless and unemployable despite their often higher qualifcations, only because they aren’t allowed to work for their own survival in the SA job market as ‘whites’: South Africa is the only country in the world which has actually created laws to limit all the survival-rights of the highly vulnerable Afrikaner minority – referred to as the ‘previously advantaged class’. They apply the BEE-laws even to the children of Afrikaners born after the end of apartheid in 1994.Access Solidarity trade union report’s latest report on White Poverty
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Kruger: “Black ownership on the JSE was at 23,8% in 2008, compared to the nearly five percent 1993. In addition, the SAT Monitor shows that ownership is expected to increase to as much as 34% within the next two years. Thus black ownership (‘i.e. companies owned by black-African, coloured and Indian-South African citizens’) have increased by 18% on the JSE over the past thirteen years. “This increase shows that the application of the black economic empowerment laws are of considerable benefit to black South Africans,’ he said.
Medical insurance policies are 44,9 % black-owned; pension funds 47,4 %…
The Solidarity BEE-monitor-study investigates black participation in and ownership of financial products such as investments, loans, life policies, annuities, pension funds, and medical and funeral policies.
- “Black participation in and ownership of these products is showing positive progress. For example, in 1993 black South Africans had only 28,2% ownership of medical insurance. This ownership had increased to 44,9% by 2007, while the ownership of annuities and pension funds had increased from 35,2% in 1993 to 47,4% in 2007,” Kruger said.
As far as unit trusts are concerned, ownership is currently in the hands of nearly 1,59 million adults. Although unit trusts are still in the hands of a small elite group, the ownership is currently divided into 59% for whites and 41% for blacks.
- “However, in the nine years from 1993 to 2007 there was a 40% increase in the value of the trusts owned by blacks,” said Mr Kruger.
“A reliable standard for measuring the economic advancement of black South Africans is essential,” Kruger explained. “There are people who believe that BEE should be implemented more intensively because the wellbeing of all black South Africans has not really improved.
Promotion of black middleclass much greater than recognised…
- “However, certain groups believe that the implementation of BEE has already contributed more to the development and promotion of a black middleclass than is recognised. This is exactly why the Solidarity Research Institute decided to create the SAT Monitor, which will release monthly data on the economic contribution and participation of black South Africans,” Kruger said. http://www.solidaritysa.co.za/Home/wmview.php?ArtID=2324
n February SA’s deputy-president Kgalema Motlanthe had still cited the ANC government’s old statistic of 5% ownership on the JSE. However this dates from 1993, and the apartheid era ended in 1994. Motlanthe used the old statistics while emphasing in a speech that ‘the pace of transformation had been painfully slow," said Kruger – but this five percent statistic was false, he noted.
However the Department of Trade and Industry has reacted with disdain to Kruger’s findings -- issuing a statement slamming Solidarity‘s findings and announcing that they have no intention of introducing any kind of deadlines to end BEE.
The ANC-regime has set a benchmark of 40% – which is the percentage of businesses in South Africa which have to be black-owned.
- They thus also totally disagree with Solidarity that a deadline should be set to stop the resulting very rapid impoverishment of the educated white Afrikaans working class as a result of the BEE-laws. ANC statement: http://www.polity.org.za/article/solidarity-bee-survey-does-not-address-direct-ownership-dti-2010-03-19-1
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