Life companies and asset managers report strong growth in Black shareholding over the past six years.

Kaya Biz

GUEST – Lister Saungweme, ASISA Senior Policy Advisor for Transformation, Skills Development and Education
Life companies and asset managers report strong growth in Black shareholding over the past six years.
Black South African shareholders owned 27% of life offices that are members of the Association for Savings and Investment South Africa (ASISA) in 2023, exceeding the 25% net value target of the Broad-Based Black Economic Empowerment (B-BBEE) ownership scorecard for the first time. The net value target applies to Black shareholders’ unencumbered (debt-free) shareholding and is, therefore, a key indicator of the ownership element of the B-BBEE scorecard. The unencumbered Black ownership of life offices was 14% in 2018. Kaya FM