Discovery’s plan to allocate ten percent of its shares to black clients at no cost under the smoke screen of empowerment is nothing but blatant racism. In essence, Discovery’s idea to establish a new bank is a good one seeing as it will encourage competition in the banking industry. It is just a shame that this plan had to start off on the wrong, and racist, foot.
Discovery must not forget who its very first clients were and who helped the company to become a financial giant. Today, Discovery has clients of all races and backgrounds. All these people are important and play a role in ensuring Discovery’s success.
To tell one group that their skin colour disqualifies them from obtaining free shares is simply immoral.
And the reason for this is that poverty is a pervasive problem among all races. The general consensus is that poverty nowadays is intraracial and that it is no longer an interracial phenomenon. And thus,
Discovery should rather allocate its shares based on the socio economic need.
If Discovery really believes that race must be the determining factor when free shares are allocated, then Adrian Gore must prove this conviction by giving away his own shares as he cannot expect white clients to bear the burden for shares that are only given to black people.
If Discovery does no let go of its racist plan, it won’t be long before the company finds out that white clients will voice their opinion by simply taking their money and business elsewhere.
Remember what happened to Spur. It is not worth it to jeopardise a company like Discovery that adds value to the economy just because of this silly racist shares plan and the FF Plus is calling on Discovery to seriously reconsider its plans.
Read the original article in Afrikaans by Adv Anton Alberts on FF Plus
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