IT sector has dismal empowerment record

Of the 201 executive directors of JSE-listed IT companies, only three are black and less than 10% of equity is owned by previously disadvantaged individuals, according to research company Empowerdex. Only one company is black-owned (greater than 50% shareholding) and three are black-empowered (greater than 25% shareholding). This is in contrast to the top 10 advertising agencies which all had empowerment partners owning between 26% and 58% of equity in their agencies, according to Mpho Makwana, head of the Association of Communication and Advertising.