Con Court PPPFA Ruling and Minimum Wage Implications

On the 16th of February, after some 4 years of litigation, the South African Constitutional Court made a landmark ruling that will prevent BEE pre-qualification criteria from being applied by government and state-owned entities in their procurement of goods and services. This is a significant victory for Sakeliga, a non-profit business group, whose objective is […]

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Legitimate beneficiaries of B-BBEE

A recent ruling by the B-BBEE commissioner has brought into sharp focus the misunderstanding with regards to the legitimate beneficiaries of B-BBEE. https://www.bbbeecommission.co.za/vicky-adey-consulting-cc-withdraws-from-government-panels-and-surrenders-for-cancellation-its-cidb-grading-for-misrepresentation-of-b-bbee-status/ For B-BBEE purposes, the definition of black is very specific and in terms of the Broad-Based Black Economic Empowerment Act (B-BBEE Act) the definition of “black people” is given as follows: “Black […]

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Government to introduce stricter BEE rules for South African businesses in 2022

EMPLOYMENT EQUITY REPORTING WINDOW OPENS 1 September 2021 either manually (deadline for submission being 1 October 2021) or online (deadline being 15 January 2022). Government to introduce stricter BEE rules for South African businesses in 2022  

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POPIA has unexpected implications for B-BBEE Schemes

Article shared courtesy of: Webber Wentzel  POPIA-has-unexpected-implications-for-B-BBEE-Schemes “Sharing personal information of trust beneficiaries to verify black ownership under the scorecards requires companies and trusts to be aware of POPIA requirements. Under the Codes of Good Practice for Broad-based Black Economic Empowerment, issued in terms of the Broad-Based Black Economic Empowerment Act 53 of 2003 (B-BBEE Act), […]

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National Treasury is developing new legislation that will “seek to enhance the transformation imperatives of the South African financial services sector”

Job creation can reboot SA’s ICT transformation IT-Online Sector regulator Icasa introduced a raft of new B–BBEE rules earlier this year, including a requirement for companies to maintain 30% equity … https://it-online.co.za/2021/08/03/job-creation-can-reboot-sas-ict-transformation/ Mboweni pushes for stronger transformation laws in South Africa’s banking and finance sector BusinessTech … will require financial institutions to develop transformation plans and […]

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SA’s Black Industrialists Programme gets its first report card

SA’s Black Industrialists Programme gets its first report card ‘Many lessons learnt’; will be used to make ‘the funding support of government more targeted and efficient’ – Patel. By Barbara Curson 14 May 2021  00:01   https://www.moneyweb.co.za/news/south-africa/sas-black-industrialists-programme-gets-its-first-report-card/ Some 793 black industrialist businesses have been funded R18 billion over the last five years by the Department of Trade, Industry and […]

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Trusts welcome DTIC Minister Patel’s support for ownership schemes

https://www.iol.co.za/business-report/economy/trusts-welcome-dtic-minister-patels-support-for-ownership-schemes-db44b85f-35b3-478d-a507-04e516d68976 DURBAN – A COLLECTIVE of six of South Africa’s broad-based black economic trusts yesterday welcomed Department of Trade, Industry and Competition (DTIC) Minister Ebrahim Patel’s public support for their broad-based ownership schemes. The trusts, Kagiso Charitable Trust, Mineworkers’ Investment Trust, HCI Foundation, Women’s Development Bank Trust, Ditikeni Investment Trust and Wiphold Trusts, have been […]

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Employment Equity Amendment Bill described as a “game-changer”

Recently the Parliament’s Portfolio Committee on Employment and Labour has called for public comment on the Employment Equity Amendment Bill. The bill has been described by President Cyril Ramaphosa as a ‘game-changer’ for Black Economic Empowerment in South Africa. The Minister of Labour, after consulting with various sectors including the Commission for Employment Equity, will […]

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Are you being sold a dubious B-BBEE share option scheme? Hear what the B-BBEE Commission has to say…

This is the typical scenario presented: A QSE company (under R50m turnover) is non-compliant. They are advised to set up a separate company that would have 100% black shareholders (either black employees or an NGO) and this company would have a 51% share option in the main company, which would mean that they receive an […]

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BEE pioneers fight for their legitimacy

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