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Strangled almost to death.
Byline: Rob Rose
EMPOWERMENT FINANCE Strangled almost to death After what could most charitably be described as mixed success, empowerment financier Makalani is rejigging its strategy to placate shareholders. But the overdue changes may not be enough to save the company from the chopping block.
In April 2005 Makalani listed at R100/share, with fighting talk of changing the face of empowerment financing. Three years on, its original black shareholders have quit, the share languishes at R83, and Makalani's largest investors are questioning the company's purpose.
This week, former Mineworker Investment Consortium finance boss Keshan Pillay was appointed Makalani CEO, filling a post that has gaped for …
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