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 […]

read more

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 […]

read more

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 […]

read more

BEE pioneers fight for their legitimacy

read more

Legal Sector Code

Click on the image below to view the Legal Sector Code document:

read more

B-BBEE Commission: Media Brief

Ruling on Validity of PPPFA Regulations has No Effect on B-BBEE Act The B-BBEE Commission recently has noted the ruling by the Supreme Court of Appeal that declared the Preferential Procurement Policy Framework Act (PPPFA) Regulations of 2017 invalid and has confirmed that the ruling has no effect on the B-BBEE Act, as amended, and its […]

read more

New BEE rules planned for South African ICT companies

  https://businesstech.co.za/news/technology/432062/new-bee-rules-planned-for-south-african-ict-companies/ https://mybroadband.co.za/news/telecoms/366554-new-black-ownership-rules-for-south-african-isps-and-telecoms-companies-here-soon.html The Independent Communications Authority of South Africa (Icasa) says it plans to introduce new BEE regulations for the Information and communications technology (ICT) sector before the end of the 2020/2021 financial year. In February, the regulator published the draft employment equity regulations. The purpose of the draft regulations is to ‘promote equity […]

read more

Covid/BEE: Covid-19 and B-BBEE

“Some of the protests against the application of B-BBEE to COVID-19 Government measures are misinformed, says Kate Moloto, Chairperson of ABP The Government’s response to the COVID-19 Pandemic has given rise to a wave of calls to “abandon B-BBEE or at least place it on hold”. On 30 April 2020, North Gauteng High Court Judge, […]

read more

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