The Black Management Forum Congratulates the Newly Elected President of the Republic of South Africa, President Matamela Cyril Ramaphosa

Johannesburg, South Africa – 15 February 2018

The Black Management Forum (the BMF) congratulates the newly elected President Matamela Cyril Ramaphosa as the 5th president of the Democratic Republic of South Africa. 

“The BMF would like to pledge its unwavering support to our newly elected president and his government. We have full confidence and trust in the leadership of President Ramaphosa. We wish to remind him of the dire economic challenges that the country is faced with, such as the economic downgrades, high unemployment and dwindling foreign and domestic investment. The country has lost ground. We need to roll up our sleeves and rebuild South Africa,”
the BMF President Mncane Mthunzi commented.

 “The BMF will be partnering with the President and his government in turning around the fortunes of our fellow compatriots. Transformation should now be a business imperative and be given priority in normalising our society. South Africa has to meet the challenge of building a truly inclusive economy that will address the injustices of the past,” Mthunzi continued. 

The BMF urges all South Africans to give support to the new president. We should all make an effort to be more patriotic and sympathetic to changing the lives of our fellow countrymen so that they can live in a country they deserve.

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The Black Management Forum Welcomes the Appointment of Fani Titi as a Joint Chief Executive Officer of Investec Limited

Johannesburg, South Africa – 6 February 2018

The Black Management Forum (the BMF) congratulates Mr Fani Titi on his appointment as a joint Chief Executive Officer of Investec Limited (Investec). Mr Titi is a competent business leader with proven business acumen which he has displayed over the years in his diverse and remarkable rise in corporate South Africa. The BMF has no doubt that he will add significant value in his capacity as the joint CEO and will be at the forefront of driving transformation at Investec.

Mncane Mthunzi, the President of the BMF says, “the BMF applauds Investec for making a contribution in driving transformation at executive level. Mr Titi’s appointment highlights the benefits of converting a non-executive director to an executive director in a company. As a current non-executive director at Investec, Mr Titi is already well versed in all aspects of the company. The conversion makes sense for companies to leverage high performing and thought-leadership that already exists within its board and use non-executives as a talent pool to fill vacancies at executive levels. The conversion of non-executive directors to executive directors will accelerate black talent and help top management in organisations to reflect the demographics of our society. “

“Whilst we applaud Mr Titi’s appointment, the BMF is opposed to the joint CEO arrangement that Investec has opted for. We are against such an arrangement as it does not add any value to the bottom line. It also adds unnecessary additional costs as two people are being paid to drive a single bottom line. We hope that Mr Titi will be the sole CEO in the foreseeable future. As the BMF we pledge our support to Mr Titi as he takes Investec to greater heights and drives to achieving transformation at Investec,” concluded Mthunzi

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The Black Management Forum Condemns the Cancellation of the Africa News Network 7 Contract by MultiChoice

Johannesburg, South Africa  1 February 2018

 

The Black Management Forum (the BMF) has noted with concern and disappointment the cancellation of the Africa News Network7 (ANN7) contract by MultiChoice. The media industry's role in our society is significant as it helps in providing facts and different interpretations of our daily lives and the world we live in. The information that the media generates empowers communities to make informed decisions on business, socio-economic and political issues to mention but a few. In fact, it is the mirror that reflects our society.

 

The BMF views the cancellation of the ANN7 contract by MultiChoice as regressive and thus does not promote and advance diversity within the media industry. In addition, South Africa is a democratic country and all attempts to bring about diversity within the media industry must be embraced and supported by all citizens including corporate citizens. The dominance by MultiChoice is susceptible to the company misusing its power, duly influencing the whole industry negatively and closing out other players that they might not agree with on principle. 

 

Mncane Mthunzi, the President of the BMF alluded to this fact citing that, the BMF has received the news of the cancellation of ANN7s contract by MultiChoice with absolute discontent. How the company has handled this matter leaves a lot to be desired, where the whole country has witnessed the flaunting of corporate governance principles to inconsistencies in how the company handles their partnership agreements. It becomes clear to all that MultiChoice did not consider the impact of their decision to potential job losses that staff members at ANN7 will suffer. This, in our view as the BMF goes against all attempts by the government and business to find workable solutions for the betterment of our economy and the nation at large.

 

The concentration of the media industry by a few players that are mainly white owned remains a concern to the BMF. The result of this is exactly what we are witnessing today, where MultiChoice is adamant in crowding out other players, in particular a black-owned company. The dominance of MultiChoice within the media space remains a serious threat to our hard-fought democracy. In a democratic country, diverse media ownership and views must be promoted in order to ensure that all players in particular black-owned media companies are given space to operate and that their existence is not threatened and lastly that all news are widely reported in a most inclusive manner, Mncane said. 

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