The majority of South Africans do not have a stake in the economy, and business is still largely dominated by white businessmen. The news is not all bad, however. Major black empowerment acquisitions include JCI and Johnnic from Anglo American and Zenex Oil from the Zenex Trust. Failures include New Age Beverages, a partnership with Pepsico International, which went into liquidation. Another form of black empowerment is the appointment of high profile black personalities to senior positions both in parastatal organisations and the corporate world.
Affirmative action continues to be a thorny issue.
There are some companies which have well thought out programmes, with processes which are designed to correct the inequities of the past and accelerate the development of historically disadvantaged employees to a position where they can compete on equal terms with their white counterparts. The latter practice is exacerbated by the relative scarcity of skilled black candidates, and leads to frustration for all involved. As a result of the high demand for qualified black managers and professionals, salary packages have risen fast and there has been very high job mobility. KPMG provides a world class accounting and management consulting service to companies doing business in South Africa. Cape Town International Convention Centre offers you a world class meeting place in Cape Town, South Africa, one of the world's most beautiful cities.