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Absip's president Sibongiseni Mbatha said in the statement that the financial industry body welcomed the South African Reserve Bank’s intervention of cutting the repo rate by 100 basis points.
SA's new Finance Minister Tito Mboweni said he told President Cyril Ramaphosa that he had no desire for the job. But that the president would not have a word of it.
Boards need to understand the importance of appointing more black executives and women, before they are forced into doing so, says Sibongiseni Mbatha.
Transparency on BEE of all in the stockbroking industry in SA is required, says the president of the Association of Black Securities and Investment Professionals.
The SARB should be "insulated from short-term political agendas from policymakers outside of Parliament", the Association of Black Securities and Investment Professionals said, after a week of conflicting messages from the governing ANC regarding the party’s intentions for the central bank.
The head of the central bank has said that while populist economic policies routinely lead to financial disaster, populism is an effective political tool as it speaks to ordinary people about real problems.
Decreasing black broker allocations and a disproportionately low black presence in the equity research sector warrant a radical overhaul of the industry.
SA must guard against monopoly capital and neither black nor white monopoly capital is a good thing, according to ANC MP Joanmarie Fubbs.
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