Does anybody remember this quote
With Dr Khoza in the chair, Nedbank is the only bank among the Big 4 that has yet to find a black person or a woman for the role of Chief Executive. It is also under Dr Khoza's leadership that the Chief Financial Officer - a black woman - does not have a critical area like balance sheet management in her responsibility portfolio.
This brings into question the substance of the extraordinarily high BBBEE score on which Nedbank prides itself.
These extraordinary words come from the typewriter of not jimmy manyi. A man who is devoid of credibility, always has been devoid of credibility. Washouts like that end up defending the indefensible – moron zuma.
The point here is that manyi made is absolutely clear that Nedbank's BEE scorecard in 2012, which was a level 2, was no indication of its transformation process. Alas our poor hazbeen (ain't never been) is correct. He's correct on two fronts
- A high BEE level doesn't mean that you won't be accused of a lack of transformation
- BEE levels are a moving target. You can be 100% black owned and level minus two million and someone will still question it
I was asked to do a presentation last week about BEE and transformation. The board of this company was of the view that they needed to get them a scorecard going so that they can measure their transformation. I dispelled that myth very quickly. All a scorecard does is show that you have done some ownership, you may employ some black people, you've thrown a massive fortune at skills development, ED, SD and SED and that your suppliers have done the same.
A scorecard is a crass attempt at measuring social cohesion. It then goes through a verification process that focuses on documentation. That's not transformation. Hell even the most inept government on the planet doesn't even know what this means, if they don't then how on earth are we supposed to know. The only thing this government and its allies know is that you MUST throw in mountains of regulation to force this so-called social cohesion. To drive the point home they appoint a mkhwebane clone as a BEE Commissioner to pronounce on stuff that she neither understands nor cares to understand. She has allies in the form of the once bankrupt black business council – ag sjym.
I've never been a transformation person, I struggle to lose weight because I can't commit to any programme. Transformation is the same, it's a programme that is consistent. It's a change of behaviour. This change in behaviour does not suit the fat cats that have no idea what work is – let alone hard work. They want everything for free, they don't want to work, they want cars and girls and Italian designer clothes. To get this for free that must show that their legitimate competitors are racist. It doesn't take much to read between the lines here
(T)he new BBC leadership is bullish about asserting its influence on the Broad-Based Black Economic Empowerment Advisory Council and reviewing the black industrialists' programme. (T)he BBC has raised its hand in a bid to obtain seats on the council.
"We are seeking representation so that the aspirations and the mandate of black business organisations are considered in all respects when you deal with the question of broad-based black economic empowerment," says new BBC president Monage.
There's also another practical reason the BBC is eager to have representation on that council. For starters, the council works closely with the BEE Commission. In particular, the council and the commission collaborate on fronting and other empowerment-related issues.
"We need that commission to have teeth to bite where there are fraudulent BEE transactions," charges Monage. "We cannot sit and complain year-in, year-out about transformation."
Why would the BBC want to push this agenda? To me it's simple – the more they push the fronting agenda the more they are able to create a smokescreen for their more powerful (and very entitled) members to lobby behind our backs for deals that we don't know about and are not entitled to bid for.
We'll carry on with our BEE scorecards and out BEE compliance, and the fat cats will carry on stealing. At some stage both of those will have to give.