Event Overview

The market for international investment is extremely competitive, and never more than now, at a time when overall levels of foreign investment are on a declining trend. There is no doubt that South Africa needs greater levels of investment if it is to achieve greater levels of growth. However, one of the main obstacles to investment at the moment is the widespread misperception among European investors of Government’s Black Economic Empowerment (BEE) programme. Attitudes still draw very much on chartering concerns in the mining sector, which resulted in a fall in investor confidence in South Africa. At best, BEE is seen as adding to the costs of doing business in South Africa, and at worst it is seen as an anti-business programme of wealth redistribution, putting strains on the financial system and creating false markets in some listed companies. These misperceptions are damaging.

Omega Investment Research therefore conceptualised two conferences in Europe in January 2004 focusing on the positive aspects of Black Economic Empowerment in South Africa, both in the short and long term. Omega believes that the positive aspects of BEE have not been fully explained to international investors. The conference discussed the recent Broad-Based Black Economic Empowerment Act and its impact on international investors and companies wanting to do business in South Africa. Further, it focussed on concrete examples of how BEE is benefiting major players in the South African economy in terms of finance, procurement, and skills development, and outlined the many business opportunities that exist for international companies.

At the request of Ms Philisiwe Buthelezi, Chief Director: Black Economic Empowerment, Department of Trade & Industry, Republic of South Africa, the following report was prepared for Mr Alec Erwin, Minister of Trade & Industry.

Due to the success of these two events and the great international interest in this subject, Omega has accepted an invitation to take this conference to New York on 10 June 2004. 
For further information please contact on tel: +27 (0) 21 689-7881 or e-mail liezelc@omegainvest.co.za

Hosts

Sponsors

Dr. Martin Kohlhaussen, Chairman of the Supervisory Board, Commerzbank AG

Nomasonto Maria Sibanda-Thusi, Chargé d'Affaires, Embassy of the Republic of South Africa in Germany

Why Empowerment? From Apartheid to Economic Pluralism
Saki Macozoma, Chief Executive, Nail Group and Chairman, Stanlib

Realising the Potential of the South African Market Through Empowerment
Maria Ramos, Chief Executive, Transnet

The Broad-Based Black Economic Empowerment Act
Philisiwe Buthelezi, Chief Director: Black Economic Empowerment, Department of Trade & Industry, Republic of South Africa   

Dr. Otmar Thömmes, Managing Tax Partner, Deloitte & Touche Germany and Vice-President, Afrika Verein

The Mining Charter - Creating Black Entrepreneurship
Adv. Brenda Madumise, Director, Randgold

The Financial Services Charter - Broad Based Transformation
Marlene Hesketh, Head: Business Development, Rand Merchant Bank  

Empowerment in the Oil, Gas and Fuels Industry
Mkhuseli Faku, Chief Executive, Calulo Investments (TOTAL empowerment partner)

Empowerment Through Infrastructure Development
Pepi Silinga, CEO, Coega Development Corporation  

Walter Engelmann, Deputy Head of International Relations, Chamber of Commerce and Industry Frankfurt am Main

Extending Ownership
Iqbal Survé, CEO, The Sekunjalo Investment Group  

BEE Procurement: Developing Black SMEs
Johann Evertse, Management Board Member for Human Resources, DaimlerChrysler South Africa

Investing in South Africa
Claas E. Daun, Chairman, Daun & Cie

Black Economic Empowerment in the ICT Industry
Wolfgang Jakob, Chief Executive Officer, T-Systems Africa           

Skills Development: Business Opportunities for German Training Providers
Wolfgang Reuter, Executive Director, Q-Federation  

Developing South African SMEs - Bridging the Skills Gap with Microfinance
Tami Sokutu, Executive Director, Managing Director: Retail, African Bank  

Funding Domestic Empowerment
Laurent Scholtz, Head of Empowerment Funding, Rand Merchant Bank

Case Study - Zimele: Win-Win Partnerships with Black Entrepreneurs
Nick van Rensburg, Managing Director, Zimele, Anglo American  

Neville Eisenberg, Managing Partner, Berwin Leighton Paisner

Measuring the Success of Empowerment on Economic Growth
Michael Spicer, Executive Director, Anglo American  

Günter Steffens, Former Country Head, Dresdner Bank South Africa and Director, Omega Investment Research  

The Role of the Public Investment Commissioners
Brian Molefe, CEO, Public Investment Commissioners  

An Emerging Entrepreneur's Perspective
Ronnie Ntuli, Chief Executive, Andisa

"[The conference] was well attended. The quality of people that attended was excellent."

"There was a good set of speakers, all of whom spoke well. The visual presentations, especially the videos, were really good for winning the audience over to SA and giving them some idea of what the commercial environment actually looks like."

"I thought that the quality of information and its relevance was of a much higher standard than the equivalent conference last year.  In particular, there were more direct examples of BEE businesses which were/are succeeding."

"[The strongest part of the event was] the interaction and networking. The ability to talk directly to the speakers on the issue of BEE."

"[The conference helped in] clarifying issues around BEE and its importance to South Africa . Making investors and the international community aware of the need of BEE. Explaining its long term and short-term goals and most importantly highlighting the importance of support required from the international community."

"The conceptual view that Saki gave at the opening of the conference [was especially beneficial]. There was also a balanced point of view especially from the first 2 speakers – Saki & Michael. Also, Dr Worrall’s closing statement calmed the tempers (after Brian Molefe’s speech) and brought a positive spin to the conference"

"The diversity of the speakers [was the strongest aspect of the conference]."

"It was an opportunity for Big Business/Government/Parastatals to showcase the potential opportunities that BEE can offer and how companies interested in entering the SA market can do so as part of a national strategy."

Dr Martin Kohlhaussen, Chairman of the Supervisory Board, Commerzbank AG

Nomasonto Maria Sibanda-Thusi, Chargé d'Affaires, Embassy of the Republic of South Africa in Germany

From left: Nomasonto Maria Sibanda-Thusi, Saki Macozomo & Ms Philisiwe Buthelezi

Chargé d'Affaires & Ms Philisiwe Buthelezi, Chief Director: Black Economic Empowerment, Department of Trade & Industry, Republic of South Africa 

From left: Neville Eisenberg, Managing Partner, Berwin Leighton Paisner. Saki Macozoma, Chief Executive, Nail Group and Chairman, Stanlib. Michael Spicer, Executive Director, Anglo American

Brian Molefe, CEO, Public Investment Commissioners  

Saki Macozoma, Chief Executive, Nail Group and Chairman, Stanlib

Tami Sokutu , Executive Director, Managing Director: Retail, African Bank & 
Ronnie Ntuli,  Chief Executive, Andisa

From left: Brian Molefe, Brenda Stern, Public Affairs, Berwin Leighton Paisner & Robert Gross, Berwin Leighton Paisner 

For further information please contact: