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The article continues: "The council’s change in the tone also signifies a shift in strategy in the way black people have been accumulating wealth in the post-apartheid era. In the last 16 years, blacks have amassed a vast quantity of their wealth through buying BEE stakes in large, white-owned companies, but have done very little to create new, sizeable businesses. The council’s executive chairperson, Xolani Qubeka, told City Press that this strategy has failed to create jobs and to promote entrepreneurship among black people. 'We need to inculcate a culture, within our members and a broader black community, that buying stakes in large, white-owned companies does not create jobs. It creates wealth for the shareholders who bought in, but does not create new employment.'"