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January 12, 2008

Change or we're out

A GROUPING of community organisations and labour unions have vowed to prevent the financial services industry from having its black economic empowerment (BEE) charter gazetted into an empowerment code, the framework that will determine how future BEE deals are structured.

And the threat does not end there. The labour and civic groups have also threatened to pull out of the ­Financial Sector Charter Council (FSCC) after they failed to reach an agreement with the industry and the National Treasury over the level of direct black ownership in the financial services sector.

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Posted by StaffWriter at January 12, 2008 8:34 AM