Black Business demands seat in banking sector (IOL)

Johannesburg – Business associations are increasingly banding together in calling for the establishment of black-owned banks that would cater for previously disadvantaged South Africans, but state policies remain a hindrance to this aspiration. Also, statements such as “only a banker can buy a bank”, might be seen to indicate that the country has no strategy to transform the financial sector to pave the way for black people to establish banks. Among those who are not happy with the banking status quo is George Sebulela, the president of the multiracial South African United Business Confederation (SAUBC). Sebulela is also the former chairperson and secretary-general of the Black Business Council (BBC). Click here to read full article