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Tag: black ownership

Zero tolerance for B-BBEE fronting

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The B-BBEE commission sent an unflinching message to entities attempting to circumvent their transformation responsibilities: there is zero tolerance for entities involved in fronting and/or misrepresentation of their Broad-based Black Economic Empowerment (B-BBEE) status and such activities will lead to criminal investigation and prosecution.

SCA ruling has no effect on the B-BBEE act and its...

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We have noted the ruling by the Supreme Court of Appeal (SCA) that declared the PPPFA Regulations of 2017 invalid and confirm that the ruling has no effect on the B-BBEE Act, as amended, and its requirements. The B-BBEE Act permits organs of state or public entities to set B-BBEE qualification criteria for procurement and other economic activities and to exceed the criteria set in the Codes of Good Practice through section 9 (6) of the B-BBEE Act.

PODCAST | B-BBEE Commission releases 2019 empowerment trends report

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An interview with Safiyya Patel, Partner, Webber Wentzel, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing the Broad-Based Black Economic Empowerment (B-BBEE) Commission’s latest report on empowerment trends in 2019.

B-BBEE Commission releases 2019 empowerment trends report

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The Broad-Based Black Economic Empowerment (B-BBEE) Commission’s latest report on empowerment trends in 2019 shows an increase in black ownership, but this is not necessarily reflected in management control scores. The B-BBEE Commission has released the annual B-BBEE trends report for the 2019 calendar year.

Empowering township youths with future skills

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Youth unemployment is a national crisis affecting millions of South Africans. According to Stats SA, the burden of unemployment is concentrated amongst the youths (aged 15-34 years) as they account for 63,4% of the total number of unemployed persons in 2019.

PODCAST | Black Industrialists – a key aspect in government’s commitment...

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An interview with Soria Hay, Head of Corporate Finance, Bravura, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing the issue of black ownership which continues to be a dominant aspect within the country’s transformation landscape. 

Black Industrialists – a key aspect in government’s commitment to grow...

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As South Africa enters an election year, the issue of black ownership continues to be a dominant aspect within the country’s transformation landscape. This was clearly articulated in the ANC 2019 election manifesto address by president Cyril Ramaphosa when he reaffirmed government’s commitment to working with the financial sector to increase industrial and enterprise financing for black industrialists as well as small businesses and cooperatives.

Mining Charter III approved by Cabinet

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On Wednesday, 19 September, Cabinet approved the long-delayed Mining Charter III and also approved the withdrawal of the Mineral and Petroleum Resources Development Amendment Bill which has been subject to the legislative process since 2013.

Implications of BBBEE Commission investigations of ownership trusts?

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The BBBEE Commission announced that it has initiated 17 investigations for possible contraventions of the Broad-Based Black Economic Empowerment Act (BBBEE Act).  Six cases deal...

Amended BBBEE Property Sector Code

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Entities of a certain size are considered to be exempted micro enterprises and thus deemed to be BBBEE compliant as a Level 4 contributor...

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