'Racism costs money'

Standard Bank CEO Sim Tshabalala warned that persistent racial inequality and racism were a risk to South Africa's stability and, ultimately, its economic growth. The country's competitiveness is "badly eroded by incomplete transformation and by racism," Tshabalala said, just over a week after Standard Bank suspended Chris Hart, an investment strategist, for tweeting that the victims of apartheid are "increasing along with a sense of entitlement and hatred towards minorities".