Archive | B-BBEE Act

No need to fear new B-BBEE codes

The new B-BBEE codes are here and many businesses will have to find a black shareholder if they wish to maintain their BEE status and benefits at anywhere near the level they currently enjoy. This is according to Pula Capital Partners, a BEE private equity partner for companies seeking an empowerment investment. The company says […]

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Lack of government entities’ cooperation hindering transformation – B-BBEE Commission

“It is extremely difficult to find a place for the so-called ‘once empowered always empowered’ in the situation where 20 years after the adoption of the Constitution of South Africa, so much disparity and economic divide exists; these were the Broad-Based Black Economic Empowerment (B-BBEE) Commission acting commissioner, Ms Zodwa Ntuli’s sentiments. Further, this occurs […]

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Net Value Holdings ordered to stop B-BBEE sessions with immediate effect

The Broad-Based Black Economic Empowerment (B-BBEE) Commission has instructed Net Value Holdings, the organiser of the B-BBEE sessions with the title “B-BBEE PARTNERSHIP TAILORED TO YOUR BUSINESS” planned for 22 September 2016 in Johannesburg, and 6 October 2016 in Cape Town, to cancel the sessions with immediate effect.  The sessions were advertised promising to provide […]

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Drive to sell amended B-BBEE Act to the public intensifies

The campaign to inform the public of the Broad–Based Black Economic Empowerment (B-BBEE) Amendment Act is proving to be a success, says the Department of Trade and Industry. The Director responsible for Compliance at the B-BBEE Commission, Busisiwe Ngwenya, said the campaign is an important tool in empowering society. “In all the three sessions that […]

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Transforming the MAC industry through education

By Beverly Klein On Thursday 9 June in Cape Town and on 13 June in Johannesburg, the Red & Yellow School hosted information sessions to address the changes and updates to the B-BBEE Sector Code for the South African Marketing, Advertising and Communications (MAC) industry. BEE is focused on transformation, and that’s exactly what the […]

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Significance of ‘token’ BEE shares reduced

For many years it has been very easy for corporations to achieve compliance with Broad Based Black Economic Empowerment (BBBEE) codes. All they have had to do is to mobilise a  community and offer it token shares to score high ratings. This worked for years, as they used their scores to conveniently secure business from […]

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BEE’s forced business marriages counterproductive – NESA CEO

In a holds-no-barreled tone, Gerhard Papenfus, chief executive of the National Employers’ Association of South Africa (NESA), highlights the institutional barriers which the culture of Black Economic Empowerment (BEE) has put placed on the growth and development of white owned small and medium businesses. In an article, has argues: “Forced business marriages, made for the […]

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Lomnin’s contentious BEE deal divides a North West village

The high profile court case in the North West has underlined the significance of chiefs seeking the consensus of members of their communities first before entering into agreements. Members of the Bapo ba Mogale Community are divided over a black economic empowerment deal with Lomnin. In December 2014, Lomnin pushed a R644-miillion empowerment deal with […]

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Posted in B-BBEE Act, Mining0 Comments

2015 budget: Will it be Pro-transformation?

Beyond the hilarious debate about whether legislators should be allowed to wear red overalls in parliament and chant “pay back the money”, uppermost in the public interest in parliament is whether the 2015 National Budget will foster economic transformation. In fact, the huge spotlight should be understandable. This year, the revised BEE codes will come […]

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Skills development and the implications thereof on BEE for 2015

  The changes with BEE that have been the talk for quite some time now will be  implemented in 2015. Below, John Long of Veld Cooper lists a couple of changes that will have an effect on BEE compliance: – The Revised Codes of Good Practice will be implemented as from 1 May 2015 and […]

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