Trevor Manuel on em­pow­er­ment

Finweek English Edition - - Main stories this week -

WHAT HAP­PENED IN AN IN­TER­VIEW re­ported in the Lon­don Fi­nan­cial Times, SA’s Fi­nance Min­is­ter Trevor Manuel said Gov­ern­ment needed to re­view its black eco­nomic em­pow­er­ment pol­icy. He said that since the leg­is­la­tion had been passed to clar­ify em­pow­er­ment some years ago, it was be­ing abused. Manuel said: “There are all kinds of things that busi­nesses have done, good and bad, cyn­i­cal and gen­uine.”

WHAT OTH­ERS SAID BUSI­NESS DAY said: “What Manuel told the Fi­nan­cial Times about em­pow­er­ment was prob­a­bly far less in­ter­est­ing than the fact that the ven­er­a­ble news­pa­per chose to lead its Euro­pean edi­tion with the story…” The Cit­i­zen said: “But why is Manuel sur­prised at this? How could it be oth­er­wise if you’re forced to make ap­point­ments not on merit but on racial grounds to please po­lit­i­cal masters.”

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