Don’t leap into a BEE hell





We all want to strike gold and are always looking for that coveted ticket to wealth. It could be a lotto ticket. For some black South Africans that pot of gold could be in the form of a lucrative BEE deal with an ostensibly well regarded entity. However, sadly, people continue getting the short end of a stick in empowerment deals which fail to live up to their promises.
With revised BBBEE code likely to compel a high level of compliance or a semblance of compliance, we should be witnessing increase in activities from companies intending on be seen to be ticking the right boxes.
When something is not adding up or is not going to add up, we all can tell from a distance, but sometimes we want to think it could be different. That’s human nature. Hence, we should be wary of the following kind of deals:
1. Too good to be true
If a deal promises you financial paradise without a valid justification, there must be a catch attached! A very big one!
2. The fine print is not clear
You cannot understand disclaimer of a deal that appears to be very big a life changer. It is wise to avoid it or do your home work. You might end up burning your fingers.
3. You don’t understand the core business
What if the supposed multi-million rand organisation is involved in the illicit practice of money laundering? You could be an unwitting accomplice in a crime. What if you are being brought in as a strategic partner to sanitise their conduct?

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