Blacks becoming more wealthy

According to a daily broadsheet newspaper blacks are becoming more wealthy and are increasing their share in the stock market. Share ownership by previously disadvantaged South Africans is rising, according to a recent study by economists.co.za


According to Sowetanlive, some 36% of assets owned by South African individuals comprise shares listed on the JSE Securities Exchange.

Looking at the ownership of the JSE by segment including foreign ownership from 2000 to 2010, the study found that the biggest story in the last decade had been the explosion of foreign ownership of liquid South African assets.

“Along with many other emerging market countries foreign investment into the equity market has become very popular by foreign institutions,”

Black ownership had increased slightly during the period from 22% to around 23%. (Black here included Coloured, Indian and African, according to the researchers).

This is an indication of the growing capacity of more blacks becoming players in the stock market field which in previous times was dominated by white investors.