Archive | B-BBEE Act

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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Posted in B-BBEE Act, Government0 Comments

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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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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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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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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