{"id":87154,"date":"2015-05-13T20:30:14","date_gmt":"2015-05-13T18:30:14","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=87154"},"modified":"2015-05-20T08:30:57","modified_gmt":"2015-05-20T06:30:57","slug":"bee-benefits-blacks-the-least","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/87154\/bee-benefits-blacks-the-least\/","title":{"rendered":"BEE benefits blacks the least"},"content":{"rendered":"

The latest data from New World Wealth shows that BEE and affirmative action policies are working to uplift the previously disadvantaged – but black Africans aren’t the ones reaping the most benefit.<\/p>\n

According to NWW’s South Africa 2015 Wealth Report, while the country has seen its black African millionaire population increase by 277% over the past 15 years, it’s actually the Indian population that has shown the largest increase in wealth.<\/p>\n

There are approximately 46,800 millionaires (HNWIs with net assets over US$1 million) living in South Africa (as of December 2014), with combined wealth holdings of US$184 billion.<\/p>\n

The number of Indian millionaires in SA has increased by over 400% since 2000 to reach approximately 6,500 at the end of 2014, whilst the number of African millionaires in SA has gone up by a lower 280% over the same period to reach only 4,900 millionaires.<\/p>\n

\u201cThis shows that while BEE and AA policies are working, they are abnormally benefiting the Indian community,\u201d NWW said.<\/p>\n

\u201cThis discrepancy is alarming when one considers that the Indian community now makes up 14% of local SA millionaires, but only 3% of the national population. Africans, on the other hand, make up 80% of the national population, but only 10% of local SA millionaires.\u201d<\/p>\n

Meanwhile white South Africans still account for the most millionaires in the country – almost 70% of the total millionaire population.<\/p>\n

While the white millionaire population has effectively doubled since 2000, the group has actually declined by 13% since 2007, when there were 36,900 white millionaires.<\/p>\n

SA Millionaires,\u00a02014<\/h3>\n
\n\n\n\n\n\n\n\n
Group<\/strong><\/td>\nMillionaires, 2014<\/strong><\/td>\n%<\/strong><\/td>\n<\/tr>\n
Whites<\/td>\n32 100<\/td>\n69%<\/td>\n<\/tr>\n
Indian<\/td>\n6 500<\/td>\n14%<\/td>\n<\/tr>\n
African<\/td>\n4 900<\/td>\n10%<\/td>\n<\/tr>\n
Other<\/td>\n3 300<\/td>\n7%<\/td>\n<\/tr>\n
Total<\/strong><\/td>\n46 800<\/strong><\/td>\n100%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

SA Millionaire Growth<\/h3>\n
\n\n\n\n\n\n\n\n
Group<\/strong><\/td>\nMillionaires, 2000<\/strong><\/td>\nMillionaires, 2014<\/strong><\/td>\nGrowth<\/strong><\/td>\n<\/tr>\n
White<\/td>\n16 300<\/td>\n32 100<\/td>\n97%<\/td>\n<\/tr>\n
Indian<\/td>\n1 200<\/td>\n6 500<\/td>\n442%<\/td>\n<\/tr>\n
African<\/td>\n1 300<\/td>\n4 900<\/td>\n277%<\/td>\n<\/tr>\n
Other<\/td>\n1 100<\/td>\n3 300<\/td>\n200%<\/td>\n<\/tr>\n
Total<\/strong><\/td>\n19 900<\/strong><\/td>\n46 800<\/strong><\/td>\n135%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

More on BEE<\/h3>\n

BEE rules are getting stricter<\/a><\/strong><\/p>\n

How many BEE millionaires are in South Africa<\/a><\/strong><\/p>\n

BEE benefits everyone: ANC<\/a><\/strong><\/p>\n

State gets tough on BEE fronting<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

BEE and affirmative action policies are working to uplift the previously disadvantaged – but black Africans aren’t the ones reaping the most benefit.<\/p>\n","protected":false},"author":10,"featured_media":74324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,1],"tags":[1232,26,6440],"class_list":["post-87154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-trending","tag-bee","tag-headline","tag-new-world-wealth"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/87154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=87154"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/87154\/revisions"}],"predecessor-version":[{"id":87166,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/87154\/revisions\/87166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/74324"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=87154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=87154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=87154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}