16 April 2004 23:06
Editor`s Note
Are SA's leading black entrepreneurs beginning to resemble Russia's oligarchs? Yes, according to FM
columnist Duma Gqubule, who argues this week that black economic empowerment is producing an “A-league of about 20 BEE
companies — led by high-profile individuals with brand names — which are set to grab virtually all the major empowerment
opportunities over the next few years”. The World Bank found that 23 Russian oligarchs controlled 17% of the
country's banking assets. Gqubule argues that SA's “black oligarchs” have a tougher ride because they are
expected to pay market prices and their empires are being built on a complex mix of options, deferred shares and special
purpose vehicles.
Heady stuff. Even if you disagree, it's refreshing to have a voice like Gqubule's challenging accepted
wisdom.
FM readers are in for a bumper four weeks. Next week subscribers will get the Property Handbook, the FM's
definitive guide to SA's most exciting asset class. Nonsubscribers will be able to buy it off newsagent
shelves.
A week later the FM will publish the launch edition of Top Empowerment Companies. This will provide comprehensive
analysis of the empowerment status of listed companies and rank their performance — a first in SA publishing. This
special publication will be available free with the FM of April 23.
This will be followed by a special supplement celebrating a Decade of Democracy, featuring articles by top
personalities seminal to our past 10 years.
To round it off, the FM's annual AdFocus supplement appears on May 14. Known as “the bible” of the advertising
industry, this year's AdFocus will once again provide the definitive analysis of SA's advertising and
marketing industries.
e-mail: fmeditor@bdfm.co.za
[Financial Mail] |
RUSSIA IN FACTS
