THE BLACK MANAGEMENT FORUM (BMF) CONTINUES TO KEEP CORPORATE SOUTH AFRICA IN CHECK

18 February 2016

The Black Management Forum (BMF) was formed with the main purpose of influencing socio-economic transformation in our country, in pursuit of socio-economic justice, fairness and equity. BMF aims to do this through the development and empowerment of managerial leadership, primarily amongst black people, and the creation of managerial structures and processes that reflect the demographics, and values of the wider society.

The BMF has over the past 40 years kept Corporate South Africa’s transformation record in check by advocating for the appointment of black professionals to meaningful positions within companies. The Jack Hammer Executive Report which was released in late last year, reveals that the proportion of CEOs who are black South African has fallen from 15% in 2012 to 10% in 2015.

The BMF notes with deep concern the reversal of transformation gains where black CEOs of major companies in our country were replaced by white candidates, such as FirstRand’s CEO Sizwe Nxasana’s replacement by Johan Burger and KPMG CEO Moses Kgosana’s replacement by Trevor Hoole; as an example.

It is for this reason that the BMF is watching with keen interest the pending appointments to key positions of companies such as MTN Group Limited’s Group President and CEO; Tiger Brands Limited’s CEO; ArcelorMittal SA’s CEO, Nestle SA’s MD, to name a few.

The BMF expects the aforementioned companies to appoint black South Africans in those positions. Any different outcome cannot be accepted and will deal a severe blow to transformation. This snail pace and reversal of transformation remains the biggest threat to the Nation Building project which was initiated by our nation’s founding father, the late President Nelson Mandela. Corporate South Africa should shoulder a blame for the economic and racial disharmony that it is currently championing.

Statement issued by Kelebogile Machaka, Black Management Forum, 18 February 2016