Archive | B-BBEE Act

Company owners question 26% black ownership requirement

  For a high level of compliance with the revised B-BBEE codes to be achieved, there has to be a high level of buy-in from various organisations. However, the Department of Trade and Industry (dti) might face the problems in ensuring that companies toe the line, if findings of A Transform SA Online telephonic survey […]

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Posted in B-BBEE Act3 Comments

Selective compliance should not be tolerated

  As the Department of Trade and Industry (dti) is looking at revising its approach to transformation compliance monitoring, it should ensure that companies adhere to every aspect covered in the revised B-BBEE codes. What has emerged in a recently-concluded Transform SA study of reports which companies submit to demonstrate their commitment to compliance is […]

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Posted in B-BBEE, B-BBEE Act, Enterprise Development0 Comments

Property sector might miss transformation target

While the level of occupancy in most of their classes of properties is mostly high, defying depressed economic conditions, the transformation score card of most organisations in the property sector is dismally low. The Public Works Minister, Thulas Nxesi made this observation during the South African Council for Project and Construction Management Professionals Conference. The […]

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“Don’t retrench our members based on race!” Solidarity Union warns Telkom

With Telkom employees resigned to the reality that retrenchment is imminent, Solidarity, a trade union which represents mainly white workers, has warned Telkom that it would have to file a court petition if needs be to prevent its members from being sacked based on their race. “It is not lawful that you take that approach,” […]

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Posted in B-BBEE Act, Business0 Comments

New BBBEE codes: A step up the corporate ladder?

It should not be a coincidence that recent reports released by various entities on Broad Based Black Economic Empowerment (BBBEE) have concurred that the private sector’s compliance has been ‘way below par’. To put it more bluntly, the moral is for organisations to ‘up their ante’ in delivery. One of the areas left wanting is […]

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Front for BEE and you will land in jail!

  In the early years of BEE, it was not uncommon for an old woman from a township to appear on the documents of a company she hardly knew how the logo looked like as a director. The culprits – white-owned organisations – once identified got scot-free, or unfortunate ones were exposed in the media. […]

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Posted in B-BBEE Act1 Comment

Ripped by BBBEE

There seems to be a trend amongst big companies – mainly the listed types – to bang on about the shares they avail to black people through so-called investment schemes. But, pitifully, some investors who were lured by prospects of earning huge returns are realising that they might have bought into fool’s gold. Nasper’s Welkom […]

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Posted in B-BBEE Act2 Comments

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