BEE code contradictions hold up deals

November 6, 2008

CONTRADICTIONS between the black economic empowerment (BEE) codes and the government's interpretive guide to the codes are a huge impediment to businesses and have hamstrung a number of business equity deals.

Michael Denenga, a partner at commercial law firm Webber Wentzel, this week said many private equity funds had held back on possible empowerment deals and had delayed the structuring of new funds until there was legislative authority on the matter.

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