Skills Development and tax savings

Author Archives: Alexis - B-BBEE

Skills Development and tax savings

Skills development is a priority element in terms of your B-BBEE scorecard. 40% compliance with this priority element is required to score points. Failure to comply will result in the measured entity being discounted one level from the level actually achieved in terms of all five elements. The target spend for skills development is 6% […]

read more

New BEE regulations for South Africa’s ICT sector

New BEE regulations for South Africa’s ICT sector Staff Writer 17 February 2020 The Independent Communications Authority of South Africa (Icasa) has published new draft employment equity regulations for the ICT sector. The purpose of the draft regulations is to ‘promote equity ownership by Historically Disadvantaged Persons and to promote Broad-Based Black Economic Empowerment (B-BBEE)’, […]

read more

Sector Code Alignment Process

In May, the Department of Trade and Industry (DTI) introduced amendments to the Code of Good Practice in Gazette 42496. These changes are a result of the repeal of the 2013 versions of the codes. While changes will be enforced during the first half of 2020, Sector Codes are expected to align themselves with some […]

read more

Again the Gupta’s

The B-BBEE Commission found that Gupta-aligned companies used fraudulent BEE certificates to secure contracts and payments from State-owned enterprise Eskom. The commission found that the claimed level of black shareholding in Optimum was never verified, that Trillian had no black shareholding and that Tegeta had received payments from Eskom of more than R100-million but was […]

read more

Micro-enterprises to get a boost from changes to procurement rules

Click here for the original article by: Moneyweb Current regulation impeding the implementation of projects – Department of Public Works. Roy Cokayne  /  11 October 2019 00:06    It has been recommended that the 30% sub-contracting regulation be a condition of tender, which is likely to affect the activities of the so-called construction mafia. Government is […]

read more

B-BBEE amendments to aid higher education access

Click here for the original post by: Engineering News The new Broad-Based Black Economic Empowerment (BBBEE) code amendments that are coming into effect in December, should help to resolve the issue of access to higher education in South Africa, says online student crowdfunding platform Feenix. The amendments were published in May, and will require that […]

read more

We will not abandon B-BBEE – President Cyril Ramaphosa

This article was sourced from Fin24 Jul 18 2019 20:17, Khulekani Magubane, Fin24 President Cyril Ramaphosa told Members of Parliament on Thursday that government would not scrap the broad-based black economic empowerment, although he acknowledged that the policy had been slow in achieving the economic transformation it was intended to. Ramaphosa was replying to the […]

read more

B-BBEE Commission finds MTN Zakhele-Futhi Scheme inconsistent with the objectives of the B-BBEE Act

This article was sourced from – B-BBEE Commission MEDIA RELEASE DATE: 11 JULY 2019  The investigation by the B-BBEE Commission (Commission) initiated in 2017 against MTN Group Limited (“MTN”) has found the MTN Zakhele-Futhi Scheme that was announced by MTN on 12 September 2016 to be contrary to the objectives of the B-BBEE Act on […]

read more

Time to rethink BEE – Minister Ebrahim Patel

Time to rethink BEE — Ebrahim Patel The new trade & industry minister says to be effective, the next phase of broad-based black economic empowerment should benefit ordinary workers 04 July 2019 – 19:53 Bekezela Phakathi Trade & industry minister Ebrahim Patel conceded on Thursday that black economic empowerment laws in their current form need […]

read more

Fronting

BEE fronting becoming more sophisticated, holding back transformation – commission Click here for the original post by fin24. Jun 27 2019 05:00 | Compiled by Carin Smith “Fronting is contributing to the slow pace of economic transformation, according to the executive manager for compliance at the Broad-Based Black Economic Empowerment (B-BBEE) Commission, Busisiwe Ngwenya. According […]

read more