Ambassador Princeton Lyman, Director of 
Africa Policy Studies, Council on Foreign Relations

Stephen Hayes, President, 
Corporate Council on Africa

Chris Niehaus, Executive Director, 
Head of Corporate Finance, UBS South Africa

Mudunwazi Baloyi, Minister Economic, 
South African Embassy - Washington DC

Leslie Maasdorp, Director,
ABSA Group

Marlene Hesketh, Head: Business Development, 
Rand Merchant Bank

Carl Stein, Chairman, 
Werksmans Attorneys Incorporated

Nick van Rensburg, Managing Director, 
Zimele - Anglo American Corporation

Adv Brenda Madumise, Director, 
Randgold

Sello Rasethaba, Chairman, 
Saatchi & Saatchi

J Daniel O'Flaherty, Executive Director, 
US-South Africa Business Council

Martin Vergunst, Managing Director, 
CSC Computer Sciences (South Africa) (Pty) Ltd

Tami Sokutu, Executive Director, Managing Director: Retailing, African Bank Investments Limited

Essa Govender, Group Executive: Procurement 
Services, Telkom SA Ltd

Kevin Cron, Senior Director and Head of Commercial Department, Deneys Reitz Inc. and Laurent Scholtz, Head: Empowerment Funding, Rand Merchant Bank

Dr Denis Worrall, Chairman, 
Omega Investment Research

Luncheon

Wine Reception: Kennedy Bungane, Director:BEE Finance, Standard Bank and Mthunzi Mdwaba, Programme Director, ICT Empowerment Working Group

Wine Reception: Essa Govender (right)

Wine Reception: Mudunwazi Baloyi (right)

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 international 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 this conference in America in June 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 Bill and its impact on international investors and companies wanting to do business in South Africa . Further, it focused on concrete examples of how BEE is benefiting major players in the South African economy in terms of finance, procurement, and skills development, and outline the many business opportunities that exist for international companies. 

The event was enormously successful and well attended with 120 attendees throughout. The response to the topics discussed has been overwhelming.

Stephen Hayes, President, Corporate Council on Africa  
Nick van Rensburg, Managing Director, Zimele, Anglo American Corporation 
Marlene Hesketh, Head: Business Development, Rand Merchant Bank 
Carl Stein, Chairman, Werksmans Attorneys Incorporated 
Leslie Maasdorp, International Advisor, Goldman Sachs 
Tami Sokutu, Executive Director, Managing Director: Retailing, African Bank
Laurent Scholtz, Head: Empowerment Funding, Rand Merchant Bank 
Dr. Denis Worrall, Chairman, Omega Investment Research
Sipho Nyembezi, Chief Executive, Ithala Development Finance Corporation
Martin Vergunst, Managing Director, Computer Science Corporation South Africa
Mr Kevin Cron, Senior Director and Head of Commercial Department, Deneys Reitz Inc.
Chris Niehaus, Executive Director: Head of Corporate Communications, UBS South Africa
Kennedy Bungane, Director: BEE Finance, Standard Bank
Advocate Brenda Madumise, Director, Randgold
Princeton Lyman, Director of Africa Policy Studies, Council on Foreign Relations
Essa Govender, Group Executive: Procurement Services, Telkom SA Ltd

For more information on the above conference 
please contact Liezel Cronje on tel: +27 (0)21 689-7881 or 
e-mail liezelc@omegainvest.co.za