YES initiative outlines plans for 2019

HTTPS://WWW.IOL.CO.ZA/BUSINESS-REPORT/ECONOMY/YES-INITIATIVE-OUTLINES-PLANS-FOR-2019-18825603 ECONOMY / 16 JANUARY 2019, 10:00AM / STAFF REPORTER President Cyril Ramaphosa launching the YES initiative in March. DURBAN – The Youth Employment Service (YES) initiative was launched in 2018 in an effort to create 1 million new 12-month job opportunities for young people. The YES initiative which has already found work opportunities for 4600 youth in 2018 […]

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BEE Code Status – November 2018

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YES Initiative Practice Note 1

The DTI published Practice Note 1 under Gazette 41975 on 12th October, to give clarity to and to implement the YES Initiative that was Gazetted on 28th August under Gazette 41866. Highlights of the Practice Note are as follows:- The Youth Employment Service Initiative is now implemented and in force for entities of all sizes. […]

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B-BBEE Commission releases practical guide to ensure validity of B-BBEE certificates

The B-BBEE Commission has issued a number of letters requiring organisations to withdraw their B-BBEE Verification Certificates due to invalidity or fraudulent conduct. The purpose of the Practice Guide 1 of 2018, issued on 3 September 2018, is to set out the approach the B-BBEE Commission is likely to take on determining the validity of […]

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Youth Employment Service Initiative – Gazette 41866

The DTI published the Youth Employment Service (YES) Initiative as Notice 502 in Gazette 41866 on 28th August 2018. The YES Initiative enables any organisation, EME, QSE or Generic to enhance its BEE Level by 1 or 2 levels by providing jobs for young black people under the YES Initiative. In summary: It amends Code […]

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Government and other entities are advised to reject B-BBEE Certificates issued by Verification Agencies that are not accredited by SANAS

MEDIA RELEASE DATE: 05 JULY 2018 The B-BBEE Commission advises entities and organs of state to reject B-BBEE certificates that have been issued by verification agencies or professionals who are not accredited by South African National Accreditation Systems (“SANAS”) as such B-BBEE certificates are invalid for lack of authority and mandate to issue them. A […]

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MoU between the Broad-Based Black Economic Empowerment Commission and the South African Revenue Service

BROAD-BASED BLACK ECONOMIC EMPOWERMENT ACT 53 OF 2003 Memorandum of Understanding between the Broad-Based Black Economic Empowerment Commission and the South African Revenue Service published (GenN 374 in GG 41754 of 6 July 2018) (p200)

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Draft Gazette 41709 released for comment on 15th June 2018

The Draft Gazette 41709 proposes: A new set of Definitions. A revised Enterprise and Supplier Development Code 400 wording. Primary changes proposed are as follows :- “Absorption” will mean a learner securing a long term of employment (also defined) and will no longer include proceeding with further education and training. The definition of Designated Group […]

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Court grants declaratory order on ‘once empowered always empowered’ BEE transactions

A High Court has granted a declaratory order on the “once empowered always empowered” rule for BEE ownership transactions related to the mining industry. The order was made on Wednesday afternoon – the matter was heard in November 2017 by a full bench of judges at the North Gauteng High Court which included Judge Peter […]

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Construction Sector Notification

The Construction Sector Charter Council (CSCC) has re-issued documents relating to B-BBEE Certificates for Exempted Micro Enterprises (EME’s)  and Qualifying Small Enterprises (QSE’s) that fall within the Amended Construction Sector Code.  Thabo Masombuka, CEO of the CSCC, clarified the situation for QSE’s: “Even where Black Owned QSE’s choose not to elect enhancements provided for in […]

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