Tag: BBBEE

The Public Procurement Act 28 of 2024 is signed but not yet in force. However, the Constitutional Court is yet to rule on a challenge by the Western Cape Government, the City of Cape Town and amaBhungane. They argue that Parliament failed to facilitate reasonable public participation on material amendments, as required by section 59(1)(a) of the Constitution. That judgment is still pending.

Skills development planning is no longer viewed as an administrative compliance exercise under South Africa's Broad-Based Black Economic Empowerment (B-BBEE) framework. Companies must now demonstrate clear alignment between training initiatives and measurable transformation outcomes. Skills development remains a priority element of the B-BBEE scorecard.

When you stand at the Johannesburg Stock Exchange (JSE) to discuss transformation, something clarifies. Not because the room is clever, although it often is. Instead, the building reflects the behaviour of markets. Capital gets priced there every day. Narratives do not move tickers; performance does. When performance disappoints, the market responds immediately. It marks you down and moves on.

Highlighting Commitment that Transcends Mere Compliance – An Enduring Dedication to Meaningful Economic Transformation in South Africa. Samsung has reaffirmed its commitment to South Africa’s transformation agenda. It has maintained its Level 1 B-BBEE (Broad-Based Black Economic Empowerment) rating for the eighth consecutive year. This achievement reflects a consistently high standard of transformation performance.

The next three months create a mad dash to financial year-end for many businesses. Either December or February deadlines now approach quickly. With just weeks to go, finance and HR heads face mounting pressure. They must ensure all skills development measures are in place to maximise B-BBEE scorecard points.

A sceptic may observe that BBBEE is trying to be everything to everyone. That on the one hand it is trying to ensure the levelling of playing fields for Black, Indian Coloured and naturalised Chinese people amongst a workforce which has traditionally been white and male dominated. At the same time BBBEE is trying to level the playing fields for women and the disabled.

Criticism of Broad Based, Black Economic Empowerment (BBBEE) abounds amongst employers. People who own their companies and are terrified that BBBEE means losing control of their most prized asset, the business built over decades through hard work and sacrifice. These scared and witless business owners perpetuate the myth that BBBEE is bad. They spread it around so that they are able to share their misery with other unsuspecting ill-informed and dangerously wrong counterparts.

Achieving Mining Charter III’s requirements for structuring broad-based ownership, local procurement and social and labour plans is likely to present serious challenges for small scale miners in particular. It may be time to move away from a 'one size fits all' approach in setting charter targets.

BBBEE Employees are not entitled. Often, they are just COMPROMISED. A major problem is developing in companies which have embraced BBBEE, where Employee Ownership or Beneficiary Trusts have been created. Employees who happen to also be BBBEE Beneficiaries, sometimes misunderstand that they are ordinary employee’s and do not have a favoured, preferred or somehow entitled status, in-comparison with other employee’s in the company.

Is South Africa headed down a road of jobless growth where a capital-intensive economy is incompatible with a labour-intensive need? According to an International Labour Organisation (ILO) report reviewed in Forbes Magazine, 11 August 2017, there are about 71 million unemployed 15 to 24-year-olds around the globe, many of them facing long-term unemployment. This is close to a historic peak of 13%.