B-BBEE Blog

Financial Sector Code – FSCA

Financial Sector Code – FSCA

The FSCA announced a memorandum of understanding with the Department of Trade, Industry, and Competition’s B-BBEE Commission last week which, while rather short on detail, does warn that the Commission “has been concerned about the unacceptable level of submission of...

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BEE’s New Chapter

BEE’s New Chapter

"There is no basis to say we are doing away with BEE." says finance minister Enoch Godongwana A lot of news has been circulating concerning BEE following the release of the Government Gazette 47452 on 4 November 2022. This document is an amendment to the Preferential...

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Department of Labour 22nd Employment Equity Report

Department of Labour 22nd Employment Equity Report

The Department of Labour recently released their annual report covering progress in their strategic objectives and providing highlights from the previous twelve months.  It also details the workforce demographic distribution of the Economically Active Population (EAP)...

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Con Court PPPFA Ruling and Minimum Wage Implications

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...

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POPIA has unexpected implications for B-BBEE Schemes

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...

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B-BBEE Commission: Media Brief

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...

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New BEE rules planned for South African ICT companies

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...

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Covid/BEE: Covid-19 and B-BBEE

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...

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Skills Development and tax savings

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...

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New BEE regulations for South Africa’s ICT sector

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...

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Sector Code Alignment Process

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...

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Again the Gupta’s

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...

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B-BBEE amendments to aid higher education access

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...

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We will not abandon B-BBEE – President Cyril Ramaphosa

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...

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Time to rethink BEE – Minister Ebrahim Patel

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...

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Fronting

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...

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Changes to Amended COGP – Gazette 42496

Changes to Amended COGP – Gazette 42496

Government Gazette 42496 was published on 31 May 2019 and contains many notices and legislative changes that are not in force from 31st May but become effective from 1 December 2019. This means that Measured Entities can choose to use them now or can delay using them...

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Y.E.S. initiative

Y.E.S. initiative

YES B-BBEE Benefits Gain up to two levels on your B-BBEE scorecard by investing in one-year work opportunities for South African youth! The Youth Employment Service (YES) officially opened for registration in November 2018. This fact sheet outlines the B-BBEE benefits...

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CA Sector Charter

CA Sector Charter

The Chartered Accountancy Charter has been gazetted in draft for 60 days public comment. The scope of the charter affects all companies that employ South African Institute of Chartered Accountants trainees and members who offer SAICA training programmes. The various...

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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...

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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...

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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...

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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...

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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...

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Meaningful transformation in SA travel sector

A study conducted by Grant Thornton and commissioned by the Association of Southern African Travel Agents (Asata) has found that the South African travel sector has made significant strides from being a white-owned and managed sector to one that has achieved...

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Petroleum and Liquid Fuels Draft Sector Code

The draft Sector Code has not been published by the DTI yet so it is just an indication of the Liquid Fuels Sector and covers the following Liquid Fuels Sectors with differing scorecards: Wholesale Manufacturing Gas Infrastructure Biofuels Energy Public Sector...

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B-BBEE Commission cracks the whip on non-compliance

Auditing and accounting firm SAB&T BEE Services (Pty) Ltd and Shameema Ismail have issued a public apology after the Broad-Based Black Economic Empowerment (B-BBEE) Commission made non-compliance findings against them. "The B-BBEE Commission has issued final...

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MoU – B-BBEE Commissioner and CIPC

The B-BBEE Commission and the Companies Commission have signed a memorandum of understanding regarding the sharing of information specifically relating to fronting and unlawful corporate activities. The MoU is in full force and effect with its focus on fronting...

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Amended AgriBEE Sector code gazetted

Minister Davies Gazettes the Amended Agri-Bee Sector Code in Terms of Section 9(1) of the Broad Based Black Economic Empowerment Amendment (B-BBEE) Act The Minister of Trade and Industry Dr Rob Davies has gazetted the Amended AgriBEE Sector Code for implementation by...

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Amended Construction Sector Code

The Construction Sector Council has announced that the DTI has signed off the final Gazette that will be published on  Friday 8th December 2017. The Announcement confirms that the Code is substantially the same as the version published for public comments in October...

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Bid to transform petrol sector

Black ownership still well below government’s proposed 25% Intervention to transform the petroleum retail sector is on the cards‚ Energy Minister David Mahlobo has indicated, with the Department of Energy conducting an audit that will serve as a baseline to inform the...

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Petroleum and Liquid Fuels Sector Code

The DTI issued a Proclamation on 13th September to publicise the intention of the Department of Energy and the Petroleum and Liquid Fuels Industry to align the B-BBEE Petroleum and Liquid Fuels Sector Transformation Charter with the B-BBEE Act, the B-BBEE Codes of...

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