Direct empowerment

Pillar 5: Ownership

One of the challenges facing the majority of South Africa’s large listed companies is the fact that both ownership and control do not represent the demographics of South Africa. The majority of South Africans have had very little opportunity to accumulate wealth and gain control of assets in a manner that facilitates broader representivity at board level.

The objective of the charter is to expand the pool of ownership over financial assets and increase the level of representivity at board level.

Standard Bank was one of the first financial institutions to develop and execute a successful plan to increase the level of direct black shareholding in the company. Furthermore, the bank has steadily increased the representation of black people, and women in particular, on its board.