February 3, 2012
Mining legislation and concerns to be tackled this year
The outcome of the public hearings held by the Parliamentary portfolio committee on mineral resources as part of its review of the 2010 Mining Charter, as well as the Mineral and Petroleum Resources Development Amendment Bill, currently scheduled to be published in 2012 (the MPRDA Amend- ment Bill), and the African National Congress's (ANC's) nationalisation of mines report are expected to form an important part of the Department of Mineral Resources' (DMR's) deliverables during 2012, says the head of Webber Wentzel's Africa mining and energy projects practice, Peter Leon.
Posted by StaffWriter at 2:00 PM
Softline Pastel's new portal makes BEE compliance easy
Softline Pastel's one-stop Black Economic Empowerment (BEE) portal, BEE 123, was recently launched.
Posted by StaffWriter at 1:45 PM
Black empowerment gains momentum
Broad-based black economic empowerment (BBBEE) scores have improved significantly across the South African economy over the past five years, according to the 2011 survey by audit firm KPMG released on Thursday.
Posted by StaffWriter at 1:43 PM
Companies improve on BBBEE ratings
Companies operating in South Africa have improved their broad-based black economic empowerment (BBBEE) ratings, according to business advisory group KPMG.
Posted by StaffWriter at 1:36 PM
February 2, 2012
Awards campaign starts again
The Durban Chamber of Commerce and Industry in association with AQRate KZN and media partners The Mercury have launched the 2012 Alec Rogoff Broad-Based Black Economic Empowerment Awards campaign.
Posted by StaffWriter at 12:16 PM
Curbing window dressing
The intention with the proposed changes to the broad-based black economic empowerment (BBBEE) regulations is to form a new monitoring commission, as well as to introduce severe penalties and censure for those found guilty of fronting.
Posted by StaffWriter at 12:11 PM
Back to fronting
Unless you're a big empowerment partner like Shanduka or Mvelaphanda and can afford legal and financial advisers ...
Posted by StaffWriter at 11:38 AM
February 1, 2012
Jobs Are Crucial For Africa To Grow Its Economy
With the looming unease following the Davos Summit over the need to come up with new models of economic growth, Africans can't help but wonder how they can protect themselves from the current uncertain state of affairs.Posted by StaffWriter at 8:28 AM
January 27, 2012
Reworked empowerment law aims to combat fronting, elevate nonownership scorecard elements
South Africa's empowerment legislation is about to get new teeth to address issues such as fronting and local content procurement, besides others.
Posted by StaffWriter at 10:55 AM
January 26, 2012
Net1 Concludes Black Economic Empowerment ("BEE") Deal
JOHANNESBURG, SOUTH AFRICA, Jan 26, 2012 (MARKETWIRE via COMTEX) -- Net 1 UEPS Technologies Inc. ("Net1" or the "Company") UEPS +2.43% (jse:NT1) today announced that it has concluded a Broad Based Black Economic Empowerment transaction, to strengthen the development of its business plan, and in compliance with South African regulation and business practice.
Posted by StaffWriter at 10:58 AM
January 25, 2012
PFK wins sustainability award
PFK Electronics recently won the 2011 Technology Top 100 Award for Sustainability.
Posted by StaffWriter at 9:51 AM
January 24, 2012
Chinese company Powerway announces 500 MW of PV mounting, tracking factories in South Africa
Powerway Renewable Energy Company Ltd. (Foshan City, China) has announced that it will invest ZAR 10 million (approx. USD 5 million) to build six new production facilities in South Africa to manufacture its Powerfit, PowerScrew and PowerTracker products.
Posted by StaffWriter at 9:53 AM
The perfect fit
Pioneering diversity placement in South Africa and abroad
Energetic, vibrant and youthful Zinhle Matentji is the founder and managing director of Parkmore-based Search Specifics, a dynamic and experienced executive search firm that has successfully pioneered diversity placement in South Africa and abroad.
Posted by StaffWriter at 9:51 AM
January 23, 2012
Ocular achieves BBBEE Level 1 status three years in a row; increases procurement rating to 168.75%
For a consecutive three years, contact centre solutions provider, Ocular Technologies has received a broad-based black economic empowerment (BBBEE) rating of Level 1. In addition, its procurement recognition level has increased by an astounding 33.75% to 168.75% this year.
Posted by StaffWriter at 1:12 PM
SA's best employers
Highlighting trends in the quest to attract the best talent in the job market
Posted by StaffWriter at 9:48 AM
Amway blazing the BBBEE trail
Amway has cause for celebration; its Township Strategy is yielding positive results (thereby empowering people at grassroots) and for the first time has grossed US$1 billion in sales worldwide
Posted by StaffWriter at 9:44 AM
January 20, 2012
Mathematical talent in short supply
PwC transformation geared at bridging the skills gap
Transformation is making significant progress in the accounting profession, but there are still not enough potential chartered accountants to feed the demand from the profession, says Dino Desai, Human Capital Leader at PwC.
Posted by StaffWriter at 8:22 AM
January 19, 2012
Tourism jobs a panacea
Invest in tourism SMMEs to solve unemployment
With 25% of South Africa's workforce and over 50% of our youths between 15 and 25 years of age out of a job, the beloved Rainbow Nation is in dire need of employment opportunities.
Posted by StaffWriter at 12:03 PM
Microsoft mentors black ICT firms
Microsoft SA's R475 million will help six black-owned software firms expand beyond our borders
Posted by StaffWriter at 11:59 AM
January 16, 2012
Professional bodies to launch skills "confederation"
The recently renamed Association for Skills Development in South Africa (ASDSA) and two other leading professional bodies have joined forces in an unprecedented initiative to improve governance and standards of practice among skills development's coalface workers.
Posted by StaffWriter at 9:45 AM
Cape Armature Winders Expands Local Service
CAPE Armature Winders, a specialist in the repairs and overhauling of electric motors, generators and alternators, has increased its infrastructure.
Posted by StaffWriter at 9:36 AM
Gijima improves BBBEE status
Gijima Holdings, the JSE-listed information and communication technology company, has improved its BBBEE status from AA level 3 to AAA Level 2, following the verification process conducted during November and December 2011 by Empowerdex, the SANAS Accredited independent rating agency.
Posted by StaffWriter at 9:35 AM
January 13, 2012
Major shock in the BEE industry
On 6th January 2012, EMEX, the South Africa's largest BEE rating agency filed for liquidation. The implication is that thousands of companies will have to appoint a new verification agency or registered auditor to do their rating.Posted by StaffWriter at 7:58 AM
January 10, 2012
GE Receives Order for 43 Locomotives from Transnet in South Africa
Three GE locomotives do the work of four older locomotives, saving 600,000 liters of fuel a year and lowering emissions.
Posted by StaffWriter at 10:16 AM
December 22, 2011
Davies: No confusion over B-BBBEE Amendment Bill
"The Gazetted B-BBEE Amendment Bill has not deviated from the original beneficiaries."
Posted by StaffWriter at 7:33 AM
December 16, 2011
Localisation a priority for rolling stock renewal programme
The Passenger Rail Agency of South Africa (Prasa) expects to start the tender process for the local manufacturing of rolling stock by March next year.
Posted by StaffWriter at 7:36 AM
December 14, 2011
BBBEE Amendment Bill up for scrutiny
Stiff fines and penalties in the offing for fronting.
JOHANNESBURG - A Broad Based Black Economic Empowerment (BBBEE) Amendment Bill released for public comment is proposing stiff penalties and fines for people found guilty of fronting.
Posted by StaffWriter at 10:28 AM
December 7, 2011
Made in South Africa launched
A plan to procure more business locally has kicked in, tender-rigging will be penalised.
Posted by StaffWriter at 9:52 AM
New procurement regulations will combat fronting
The revised Preferential Procurement Regulations that become effective today (Wednesday) are largely to align these regulations more closely with BBBEE, and to address some of the concerns raised by both the courts and business relating to functionality and how it relates to price.
Posted by StaffWriter at 9:48 AM
December 5, 2011
State seeks to criminalise 'fronting' with new empowerment bill
Draft legislation proposes severe penalties for both individuals and companies who misrepresent equity credentials, writes Linda Ensor
Posted by StaffWriter at 10:09 AM
December 4, 2011
MultiChoice shares yield early Christmas
FATHER Christmas has arrived early for shareholders of MultiChoice's Broad-Based Black Economic Empowerment (BBBEE) companies, Phuthuma Nathi 1 and 2.
Posted by StaffWriter at 10:05 AM
December 2, 2011
M&R Cementation achieves BBBEE Level 5
Construction and engineering group Murray & Roberts (M&R) Cementation has achieved broad-based black economic empower- ment (BBBEE) Level 5 status, following an audit by an independent verification body.
Posted by StaffWriter at 9:42 AM
November 29, 2011
New BASA members help ignite KZN arts industry
NCP Alcohols and RAINBOW, are providing crucial support to arts organisations in KwaZulu-Natal.
Posted by StaffWriter at 10:12 AM
November 28, 2011
Big retailers deny claims of BEE neglect
Some of the retailers accused of not doing enough for black economic empowerment (BEE) have vehemently dismissed this assertion, labelling it as misleading.
Posted by StaffWriter at 10:09 AM
Promotion of Access to Information - is your manual ready?
THE DEADLINE for businesses to submit their manuals on how to access their records, as required by the Promotion of Access to Information Act of 2000 (PAIA) is fast approaching.Posted by StaffWriter at 8:39 AM
November 25, 2011
Government plans tough new rules to combat BEE 'fronting'
Penalties for fronting will include 10% of annual turnover for companies and a fine or imprisonment of up to 10 years for individuals
Posted by StaffWriter at 9:52 AM
November 24, 2011
Enterprise development given higher weighting in amended BEE law
Cabinet has approved the publication of proposed changes to the Broad-Based Black Economic Empowerment (BBBEE) Act, which have been made in a bid to align the legislation with the New Growth Path (NGP) and the Industrial Policy Action Plan (Ipap).
Posted by StaffWriter at 9:58 AM
November 21, 2011
Retailers 'shirking' BEE
The Government Employees Pension Fund (GEPF) came under fire during the Black Management Forum (BMF) annual convention session last week for not doing enough to foster black economic empowerment (BEE) on the JSE.
Posted by StaffWriter at 9:49 AM
Prasa to engage market on broad-based BEE
Johannesburg, Nov 21 (I-Net Bridge) - The Passenger Rail Agency of SA (Prasa) will on Tuesday conduct the second round of market engagements focusing on its broad-based Black Economic Empowerment (BBBEE) requirements for the manufacturing of new rolling stock.
Posted by StaffWriter at 9:45 AM
November 18, 2011
BMF hits out at BEE policies
Black economic empowerment (BEE) came under fire yesterday from the Black Management Forum (BMF) for failing to benefit previously disadvantaged communities. The BMF said it had benefitted only a few, including some previously advantaged instead.
Posted by StaffWriter at 9:09 AM
November 10, 2011
Business benefits from RRT
Ellekia Modise
To provide local businesses with an opportunity to find out how they could benefit from Rustenburg Rapid Transport (RRT), the project management committee hosted a business open day at the Rustenburg local municipality last week.
Posted by StaffWriter at 10:10 AM
Broadening the supply base
Public purchasers in South Africa will have to take account of new rating criteria that measures suppliers' broad-based black economic empowerment (BBBEE) from 7 December.
Posted by StaffWriter at 9:39 AM
November 4, 2011
Korean energy companies ready to meet SA's localisation, skills requirements
Korean energy and transmission companies aim to transfer skills to South Africa and to boost local companies by using locali- sation programmes, says Korean electrical constructions company LPJ SA Engineering & Construction marketing manager Danny Lee.
Posted by StaffWriter at 9:54 AM
November 1, 2011
Value-Based Communication And Strategy Consulting Firm Gets Top BBBEE Score
STONE OUTSHINES INDUSTRY STANDARDS WITH LEVEL ONE BBBEE CONTRIBUTOR STATUS
JOHANNESBURG - Strategic communication consultancy Stone based in Johannesburg and Cape Town, recently excelled industry standards by receiving Level 1 Broad Based Black Economic Empowerment (BB-BEE) accreditation, according to the Department of Trade and Industry's Codes of Good Practice for BB-BEE.
Posted by StaffWriter at 8:20 AM
October 28, 2011
Government Reliance On A B-BBEE Scorecard Becoming A Reality
BY GAVIN LEVENSTEIN, CHIEF OPERATIONS OFFICER AT ECONOBEE
With any new activity we expect to see a build-up. I remember how it took just a few weeks to fill the streets with flags from all the countries participating in the Soccer World Cup. It almost happened overnight.Posted by StaffWriter at 7:23 AM
October 26, 2011
Details of bidding process for renewable energy IPP programme
SESSA - the Sustainable Energy Society of Southern Africa - has applauded the Department of Energy's (DoE's) efforts to clarify the bidding process that will be followed for its renewable energy independent power producer (IPP) programme.
Posted by StaffWriter at 10:01 AM
October 21, 2011
Fully empowered
Fulfilling her patriotic duty Who would say no, if asked to control billions of South African rand? The prospect of having power of that kind of money would be appealing to just about anyone.
Posted by StaffWriter at 10:29 AM
October 20, 2011
JSE Black Ownership Survey
The Johannesburg Stock Exchange has released its annual survey on black ownership of the top 100 JSE companies.Posted by StaffWriter at 12:53 PM
October 18, 2011
Prepare For Your Annual Employment Equity Assessment
The deadline for Employment Equity Returns has lapsed as of 01 October and still there are employers who don't have the facts when it comes to completing their EEA2 returns.Posted by StaffWriter at 8:57 AM
October 14, 2011
Top Five BEE Interpretation Mistakes: Ownership
Eleanor Roosevelt wisely said; "Learn from the mistakes of others. You can't live long enough to make them all yourself"; and in business learning from ones' own mistakes could amount to considerable outlay.Posted by StaffWriter at 2:20 PM
AECI urges investors to back BEE deal
Ernst & Young says proposed BBBEE transaction is in the best interests of AECI and shareholders, and recommends a vote in favour
Posted by StaffWriter at 11:36 AM
Investec scorecard looking better, but comes under fire
Investec released its 2011 broad-based black economic empowerment (BBBEE) scorecard this week, which confirmed concerns raised by some of the group's employees and independent observers about the bank's poor employment equity record.
Posted by StaffWriter at 8:48 AM
October 13, 2011
Inforcomm welcomes thedti's decision to make it a mandatory requirement for verification agencies to be BEE compliant
Inforcomm welcomes thedti's decision to make it a mandatory requirement for verification agencies to be Level Three BEE compliant before approving their application for accreditation.Posted by StaffWriter at 2:56 PM
October 12, 2011
SA launches preferential buying rules
South Africa is gearing up to give its local suppliers a larger slice of the procurement pie with preferential public purchasing rules that come into effect on 7 December.
Posted by StaffWriter at 3:12 PM
October 11, 2011
Van Ryn's BBQ Awards toasts 10 years
Black Business Quarterly magazine and BBQ Awards achieve milestones in tough operating environment
Posted by StaffWriter at 3:23 PM
October 10, 2011
Doyen of black business
Richard Maponya is synonymous with pioneering township enterprise long before BEE became a part of our commercial parlance
Posted by StaffWriter at 3:16 PM
The Big Interview: Taxi driver turned industry leader
Chris Makhaye and Sibonelo Radebe
Jabulani Mthembu, the president of the South African National Taxi Council (Santaco) is leading a mini-renaissance.
Posted by StaffWriter at 3:07 PM
October 8, 2011
JSE study on black ownership slammed
Sandile Zungu, spokesman for the recently established Black Business Council, has dismissed this week's JSE survey as a "smokescreen" to hide the "true and dismal" level of direct black ownership of listed companies.
Posted by StaffWriter at 6:30 AM
October 7, 2011
Three principles of transformation
The imperatives of a successful empowerment programme by the private sector
Posted by StaffWriter at 6:37 AM
October 6, 2011
Calling All Registered Service Providers to Be Broad-Based Black Economic Empowerment Compliant
The Gauteng Provincial Government (GPG) is in the process of updating its Central Vendor Database with all mandatory vendor requirements in particular the BBBEE (Broad-Based Black Economic Empowerment) Certificates and Tax Clearance Certificates.
Posted by StaffWriter at 6:25 AM
October 4, 2011
Print media diversity, transformation in SA: myth or reality?
Black participation in the South African print media industry currently stands at 14% and women in board and senior management is 4.44%, as white-owned groups (Caxton, Independent Newspapers, Avusa and Media24) continue to own the big chunk and call the shots.
Posted by StaffWriter at 10:56 AM
Mercedes-Benz
MB SA consolidates its transformation leadership
Building a sustainable future, creating opportunities, strengthening the economy
Posted by StaffWriter at 10:52 AM
October 3, 2011
The citizens have their say
Almost 9000 comments were logged during National Planning Minister Trevor Manuel's 72-hour digital "jam" about the future of South Africa. His office called it the biggest online conversation ever in Africa.
Posted by StaffWriter at 9:47 AM
September 20, 2011
Top Five BEE Interpretation mistakes: Procurment
Eleanor Roosevelt wisely said; "Learn from the mistakes of others. You can't live long enough to make them all yourself"; and in business learning from ones' own mistakes could amount to considerable outlay.Posted by StaffWriter at 11:10 AM
September 14, 2011
Changes to BBBEE Criteria for Public-Entity Tenders
As published in the Government Gazette on 8 June this year, various changes have been made to the factors organs of state must consider when procuring goods. The changes formed part of the updated regulations of the Preferential Procurement Policy Framework Act No 5 of 2000.Posted by StaffWriter at 11:35 AM
September 9, 2011
Fronting is becoming more devious
By Gavin Levenstein, Chief Operations Officer At Econobee
Fronting is defined by the Department of Trade and Industry DTI as a deliberate circumvention or attempted circumvention of the B-BBEE Act and the Codes. We continue to see this happening and have reported at least twenty instances to the DTI and SANAS in the past months.
Posted by StaffWriter at 7:33 AM
September 6, 2011
'Blacks don't own mines'
South Africa has "no visible" black industrialists, despite the many black people entering various sectors of the economy, President Jacob Zuma says.
Posted by StaffWriter at 12:21 PM
Top 5 BEE Interpretation Mistakes- Part 2: Enterprise Development
Eleanor Roosevelt wisely said; "Learn from the mistakes of others. You can't live long enough to make them all yourself"; and in business learning from ones' own mistakes could amount to considerable outlay.Posted by StaffWriter at 10:54 AM
September 1, 2011
Top 5 BEE Interpretation Mistakes: Socio- Economic Development
Eleanor Roosevelt wisely said; "Learn from the mistakes of others. You can't live long enough to make them all yourself"; and in business learning from ones' own mistakes could amount to considerable outlay.Posted by StaffWriter at 8:46 AM
August 31, 2011
KZN building boss held
A KWAZULU-Natal building contractor who allegedly used his domestic worker, her daughter and a Western Cape student as "fake" BEE shareholders in two of his multimillion-rand companies, has been arrested.
Posted by StaffWriter at 9:51 AM
August 29, 2011
Broll boosts BBBEE rating to Level 3
Broll Property Group has been rated as a Level 3 Contributor and Value-Adding Supplier by Empowerdex, an accredited verification agency. A Level 3 plus Value-Added Supplier status allows customers to claim R137.50 for every R100 spent with the company towards their own BBBEE preferential procurement score.Posted by StaffWriter at 2:54 PM
August 26, 2011
Training programme will improve BBEEE compliance: Davies
Trade and Industry Minister Rob Davies says BBBEE policy is too lax and will be reviewed.
Posted by StaffWriter at 9:17 AM
August 19, 2011
The Tranter way
Joshua Ngoma, CEO of Tranter Holdings (Pty) Limited, talks to Jayne Alverca about his desire to move beyond making a good profit and contribute to a lasting improvement in the economic conditions and livelihoods of the people of Southern Africa.
Posted by StaffWriter at 10:08 AM
August 15, 2011
Tutu calls on white SA
Archbishop Emeritus Desmond Tutu says he doesn't understand why white South Africans become upset when it is said that they "benefited from apartheid".
Posted by StaffWriter at 7:57 AM
August 5, 2011
Blacks still bottom
After hundreds of billions of rands have been invested in implementing Black Economic Empowerment, procurement targets and broad-based BEE scorecards, the percentage of blacks in top management has remained almost unchanged since 2006 at just 16.9%.
Posted by StaffWriter at 7:49 AM
July 26, 2011
AECI in R1.2bn BEE deal, half-year earnings rise
Chemicals and explosives company AECI has entered into a R1.2-billion broad-based black economic-empowerment (BBBEE) transaction comprising permanent employees and a community trust that would fund educational and developmental initiatives.
Posted by StaffWriter at 11:54 AM
July 25, 2011
ATIO awarded Level 3 B-BBEE Status
Specialist ICT services company, ATIO, is pleased to announce that they have once again been awarded Level 3 B-BBEE Status and have been recognized as a Value-Adding Supplier (VAS) by the BEE Verification Agency, Emex Trust. This certification entitles ATIO's customers to claim 137.5% recognition of their procurement spend with ATIO.Posted by StaffWriter at 3:01 PM
July 15, 2011
LONMIN : LEM Trust Distribution of Proceeds of Incwala BBBEE Funds
Lonmin PlcLEM Trust Distribution of Proceeds of Incwala BBBEE Funds
Lonmin Plc (Lonmin), Shanduka Resources (Proprietary) Limited (Shanduka) and the National Union of Mineworkers (NUM) are pleased to announce that following the disposal by Lonplats Employee Masakhane Trust (LEM Trust) of its indirect shareholding in Lonmin to Shanduka in July 2010, qualifying members of the LEM Trust will today receive proceeds from this sale.
Posted by StaffWriter at 8:06 AM
July 14, 2011
Why small buisness need BEE
By Keith Levenstein, CEO of EconoBEE, experts in B-BBEE and development of the BEE scorecard
Many businessmen view BBBEE as an administrative annoyance. A more optimistic view of the BBBEE is an opportunity to grow your business and ultimately improve your bottom line. When all factors of your service / product are equal to that of your competitor, such as price, quality and reliability - your B-BBEE rating could be the major deciding factor in the deal.
Posted by StaffWriter at 10:27 AM
July 11, 2011
Special Report Podcast: Bruce Strong - CEO, Mpact
ALEC HOGG: It's Monday July 11 2011 and in this Boardroom Talk podcast, Bruce Strong, who's the chief executive of Mpact, is joining us. It's the newly listed company, spun out of Mondi. I see, Bruce, having a look at the various market caps; you've come on the market at about R2.25bn. The Mondi PLC shares have about a R25bn market cap and what's left of Mondi Limited, about R8bn. So, you're very much a small part of the group.
Posted by StaffWriter at 10:03 AM
Agang Sechaba, the NPO invests 67 minutes of their time into the Miriam Makeba Home for Girls
On the 18th of July as part of
the Nelson Mandela 67 minute project Agang Sechaba, the NPO will spend their
time painting the Miriam Makeba Home for Girls based at 131 President Road,
President Park, Midrand. The project will kick off at 9.30am.
Posted by StaffWriter at 8:47 AM
July 9, 2011
BEE credits to be had for big money
Large companies can now make a simple monetary contribution to a new enterprise development fund and receive the full 15 points for this element of the broad-based black economic empowerment scorecard.
Posted by StaffWriter at 8:19 AM
July 8, 2011
How to claim BBBEE points by investing in the NEF
JOHANNESBURG - The National Empowerment Fund (NEF) on Wednesday launched an Enterprise Development (ED) Fund designed to promote black enterprise.
Posted by StaffWriter at 9:44 AM
July 7, 2011
New edge needed to revive ailing factories
THE health of SA's manufacturing is a Holy Grail for many disparate parties, including the government, industry and the unions. But much needs to be done to stop the sector from slipping further into neglect.
Posted by StaffWriter at 10:43 AM
July 6, 2011
Telkom receives "Progressive Company of the Year" Award
Telkom receives "Progressive Company of the Year" from the Black Management Forum.
Posted by StaffWriter at 2:56 PM
New fund will seek to leverage private resources for enterprise development
The Enterprise Development Fund (EDF), launched on Wednesday with a R75-million contribution from the National Empowerment Fund (NEF), will seek to support black enterprise development in South Africa's industrial value chain, as well as act as a catalyst for accelerating job creation in line with government's New Growth Path.
Posted by StaffWriter at 10:41 AM
Companies fronting as BEE may face penalties, blacklisting
Proposed changes to South Africa's broad-based black-economic empowerment (BBBEE) legislation would result in penalties and blacklisting of parties guilty of fronting, Department of Trade and Industry (DTI) deputy director-general for empowerment and enterprise development Sipho Zikode said on Wednesday.
Posted by StaffWriter at 10:38 AM
Telkom receives BMF award
Telecoms provider Telkom has been awarded the Black Management Forum's (BMF's) Progressive Company of the Year Award.
Posted by StaffWriter at 10:35 AM
June 29, 2011
Continental Coal reaches landmark Black Economic Empowerment investment agreement
Continental Coal (ASX: CCC) has reached an agreement with a Broad Based Black Economic Empowerment Group (BBBEE) to acquire the existing 26% Black Economic Empowerment equity interest in the company's South African subsidiary, Continental Coal Limited (CCL).
Posted by StaffWriter at 9:54 AM
June 28, 2011
Shanduka sells Assore stake for R2.7bn, exit to broaden BEE base
JOHANNESBURG (miningweekly.com) − JSE-listed iron-ore, manganese, chrome and ferroalloy producer Assore on Tuesday announced that it would buy its black partner Shanduka's 11.8% stake in the company for R2.7-billion and pass the benefit on to its broad-based black-economic empowered (BBBEE) shareholders.
Posted by StaffWriter at 9:58 AM
June 24, 2011
New tender codes spark little interest
The revised preferential procurement regulations, published in the Government Gazette this month, have received a muted reaction -- which is in sharp contrast to when they were released for comment in 2009.
Posted by StaffWriter at 9:38 AM
Youths' skill clamour
Skills, skills and more skills! That was all the young people called for at the annual youth parliament held in Mafikeng on Wednesday.
Posted by StaffWriter at 8:34 AM
June 22, 2011
4most SAP Business One solution helps Basix Group maintain market edge
The Basix Group has contracted SAP Business One solutions provider 4most to supply, implement, commission, and support an accounting and ERP software solution for its Johannesburg headquarters in Booysens.
Posted by StaffWriter at 9:55 AM
How MTN powers growth through BBBEE
Anywhere MTN is mentioned in Africa, the common link is actually telecommunications. However, closer probe into its activities would reveal an African company using telecommunications to expand footprints into other sectors of the economy.
Posted by StaffWriter at 9:53 AM
June 17, 2011
Can Farming At Household Level Overcome Hunger In Southern Africa?
The Southern Africa Trust in partnership with the Institute for Democracy in Africa (IDASA) will host a public policy dialogue on food security in southern Africa, with a focus on how to achieve household level food security in the region.Posted by StaffWriter at 7:31 AM
June 14, 2011
New rating criteria for black vendors in South Africa
The South African government has changed the rules governing how buyers assess black suppliers in order to meet contracting requirements.
Posted by StaffWriter at 9:48 AM
June 13, 2011
Preferential Procurement Workshop
Commerce Edge Procurement Training strikes the right chord with an intensive workshop on Preferential Procurement, Enterprise Development and BBBEE Scorecards for purchasing professionals, financial managers and buyers.
Posted by StaffWriter at 1:43 PM
BEE Scorecards Required For Government Tenders
Tender fraud, corruption and misrepresentation of BEE status could be a distant memory if the Treasury's newly gazetted amendments to the PPPFA are effective.Posted by StaffWriter at 12:06 PM
June 10, 2011
SA to realign empowerment rules to combat fronting, boost local content
Black economic empowerment (BEE) has come under increased scrutiny over recent months.
Posted by StaffWriter at 11:10 AM
June 9, 2011
Local content integrated into SA's new preferential procurement rules
South Africa's National Treasury released revised preferential procurement regulations on Thursday, opening the way for the designation of sectors from which government departments and State-owned enterprises (SoEs) should buy only locally produced goods, services and works.
Posted by StaffWriter at 11:12 AM
June 6, 2011
Celebrating the woman behind the Moringa project, Mavis Mathabatha, and unveiling new research.
Tooseng, GaMphahlele, Limpopo - On the morning of 28 June 2011, farmers, government officials, rural community stakeholders and activists, as well as experts in the field of food security and nutrition, will gather in Tooseng village in Limpopo province to celebrate and honour Mavis Mathabatha for becoming the Department of Agriculture, Forestry & Fisheries (DAFF) National Female Entrepreneur of the Year.
Posted by StaffWriter at 3:58 PM
May 31, 2011
Mondi's unbundled packaging unit Mpact to list in July
Paper and packaging group Mondi remained confident that the company would maintain an acceptable broad-based black economic empowerment (BBBEE) rating following the demerger and the separate listing of Mondi Packaging South Africa (MPSA) as Mpact on the JSE, group corporate affairs manager Lora Rossler told Engineering News Online.
Posted by StaffWriter at 12:14 PM
May 27, 2011
Consultant lauds new code of good practice for the property sector
The recently released code of good practice for the property sector unveils brave new broad-based black economic-empowerment (BBBEE) targets for the industry, says BBBEE consulting firm Olive Tree Consulting Services head Diane Albertyn.
Posted by StaffWriter at 9:38 AM
May 19, 2011
Walmart prioritises transformation as a core company value
A question that a lot of people are asking right now is: what does it mean for a local company's broad-based black economic empowerment (BBBEE) policies when it gets bought out by a foreign investor?
Posted by StaffWriter at 9:44 AM
Businesses in southern Africa look at how their core business can boost pro-poor development
Businesses in southern Africa are looking at how to increasingly include low income groups in their business activities thereby improving the livelihoods of the poor.Posted by StaffWriter at 7:35 AM
May 17, 2011
Corporate structures - SA's board structures
SA’s unrepresentative boardrooms
"Diversity in terms of age, race, gender, experience and qualifications, is an important consideration and companies should look to develop a board that has the necessary knowledge, skills and resources to lead the company effectively"
Posted by StaffWriter at 9:40 AM
May 16, 2011
Powertech achieves a level 3 BBBEE contributor status
Power Technologies (Pty) Ltd (Powertech), a wholly owned subsidiary of the JSE-listed Allied Electronics Group (Altron), announces that it has successfully been audited by the independent BBBEE accreditor, Empowerdex, securing the status of a level 3 BBBEE contributor.
Posted by StaffWriter at 9:35 AM
May 13, 2011
Five Tips for Verification
After years of building up one's BEE scorecard to ensure compliance; a rocky BEE verification process can be both frustrating and disheartening for companies undergoing this legislative requirement.
Posted by StaffWriter at 10:56 AM
May 12, 2011
Buyer beware
Company hijack is on the increase in South Africa, so if you do business there, supplier checks are crucial, warns Alan Jewson.
Posted by StaffWriter at 9:42 AM
May 10, 2011
Salary Survey To Be Repeated
The salary survey of remuneration offered to South Africa's proposal and bid managers - first conducted in 2010 - will be repeated again in 2011 in an effort to see if the issues raised last year have been addressed. nFold urges proposal and new business development managers to take part.Posted by StaffWriter at 7:31 AM
April 21, 2011
Turner & Townsend boosts its scores in Africa
Turner & Townsend Africa has improved its score on an African rating system that is used by clients in selecting business partners and suppliers.
Posted by StaffWriter at 9:35 AM
April 20, 2011
Revision of the BEE Codes
Yesterday, Parliament heard of how Rob Davies, Minister of Trade and Industry, will be revising the BEE codes to ensure "greater participation by black people in productive activities and tackle what is now emerging as increasingly complex practices of fronting".Posted by StaffWriter at 2:43 PM
April 19, 2011
DTI secures R28bn in investments for SA
Cape Town - The Department of Trade and Industry has helped to conclude a total of R28 billion in investments in the South African economy and aims to help facilitate R115 billion in investments in the next few years, the Minister of Trade and Industry Rob Davies said today.
Posted by StaffWriter at 9:46 AM
April 8, 2011
Verification Turbulence Affects felt country wide
The BBBEE verification industry has come under serious fire this past week when it emerged that certain verification agencies had been issuing BEE verification certificates using the incorrect scorecard. SANAS has been forced into action and has demanded the offending agencies to immediately withdraw their BEE Certificates.Posted by StaffWriter at 7:51 AM
April 7, 2011
New inner city scheme
Dilapidated and hijacked buildings will be targeted for regeneration through the new Inner City Property Scheme, which will be "one of the most far-reaching BBBEE transactions in the country".
Posted by StaffWriter at 9:35 AM
April 3, 2011
BEE, BBBEE under the spotlight
Pretoria - One of the major shortcomings in the implementation of Black Economic Empowerment (BEE) was the over-emphasis on diversity of ownership and senior management.
Posted by StaffWriter at 11:09 AM
April 1, 2011
Fronting stings BEE: Zuma
"Fronting" and tender abuse is an "unintended consequence" of an overemphasis on diversity of ownership and senior management in implementing broad based black economic empowerment (BBBEE), President Jacob Zuma said on Friday.
Posted by StaffWriter at 10:15 AM
BBBEE codes to be revised
To contribute to job creation it has to promote new enterprise development.
Posted by StaffWriter at 10:11 AM
IDC to tackle unemployment
The Industrial Development Corporation (IDC) has launched a R10 billion scheme, to run over five years, aimed at facilitating job creation and growing the economy. The announcement was made recently by CEO, Geoffrey Qhena, from the organisation's head office in Sandton.
Posted by StaffWriter at 9:40 AM
March 31, 2011
Microsoft announces BBBEE partners
Microsoft South Africa today unveiled the first small black-owned software development firms that will benefit from the company's R475 million investment in a broad-based black economic empowerment (BBBEE) equity equivalence programme.
Posted by StaffWriter at 9:47 AM
Manyi calls for CEOs to lead transformation
Government spokesperson Jimmy Manyi has lambasted the speed of transformation in South Africa
Posted by StaffWriter at 9:02 AM
March 30, 2011
Microsoft in R475m deal
MICROSOFT yesterday unveiled the biggest broad-based black economic empowerment deal.
Posted by StaffWriter at 10:24 AM
Public Works joins forces with FETs
Pretoria - The Department of Public Works today signed an agreement with FETs in a bid to ensure that students receive proper practical training.
Posted by StaffWriter at 9:57 AM
Infrastructure Stimulus Package - Development Outcomes
South Africa as a developmental state seeks to balance economic growth and social development through using state resources and influence to reduce poverty and expand economic opportunities for the poor and the previously disadvantaged.
Posted by StaffWriter at 9:53 AM
March 25, 2011
South Africa questions controversial Walmart deal
several government departments applied for a postponement of a South African Competition Tribunal hearings into the deal.
Posted by StaffWriter at 7:58 AM
Netcare pledges to do more on BEE
Johannesburg - Richard Friedland, CEO of Netcare [JSE:NTC], says he expects that the company will accelerate and drive transformation "very hard" over the next year.
Posted by StaffWriter at 7:53 AM
March 24, 2011
Level Two BBBEE accreditation for Ascent Technology
Ascent Technology has been recognised as a Level Two contributor, according to the Broad Based Black Economic Empowerment (BBBEE) Codes of Good Practice, as laid down by the Department of Trade and Industry. The company has also been listed on the National BBBEE Registry.
Posted by StaffWriter at 9:45 AM
Level Two BBBEE accreditation for Ascent Technology
Ascent Technology has been recognised as a Level Two contributor, according to the Broad Based Black Economic Empowerment (BBBEE) Codes of Good Practice, as laid down by the Department of Trade and Industry. The company has also been listed on the National BBBEE Registry.
Posted by StaffWriter at 9:39 AM
March 18, 2011
DTI finalises training programme for B-BBEE
Pretoria - The Department of Trade and Industry (dti), together with three universities, is finalising the development of a Standardised National Training Programme for Broad-Based Black Economic Empowerment verification.
Posted by StaffWriter at 8:48 AM
March 17, 2011
Government's NGP is not detrimental to BBBEEE
Since the government approved the New Growth Path (NGP) last year, there have been growing perceptions and concerns that transformational goals - as espoused through affirmative action and broad-based black economic empowerment (BBBEE) - will no longer be in the government's priorities.
Posted by StaffWriter at 11:17 AM
March 16, 2011
Galaxy Gold signs black economic empowerment (BEE) transaction
Johannesburg, South Africa - Galaxy Gold Mining Limited (Galaxy Gold) announced today that it has signed a black economic empowerment (BEE) transaction in terms of which a BEE consortium comprising Mpumalanga broad based black economic empowerment (BBBEE) companies -
Posted by StaffWriter at 10:00 AM
March 11, 2011
Decision on $2,1bn titanium, zirconium project pending
The results of a prefeasibility study on the proposed construction of an integrated titanium and zirconium minerals beneficiation complex in South Africa are under review.
Posted by StaffWriter at 9:43 AM
Grass Valley Adds Protea Electronics To Reseller Network
Grass Valley has announced that Protea Electronics, a wholly owned subsidiary of the Protea Technology Group, a leading supplier/systems integrator to the broadcast, multimedia, telco and digital automation industries in South Africa, has joined the growing network of authorised resellers handling Grass Valley equipment and systems around the world.
Posted by StaffWriter at 8:01 AM
March 7, 2011
Inforcomm welcomes the decision by Cabinet to align Treasury procurement regulations with the BEE Act
Inforcomm BEE Verification welcomes the decision by Cabinet to approve the alignment of the Preferential Procurement Policy Framework Act (PPPFA), the Act that public entities use to procure goods and services, and the Broad-Based Black Economic empowerment Act (BEE Act).
Posted by StaffWriter at 10:03 AM
Village Main Reef assumes control of Cons Murch and successfully raises R22.5 million
- All suspensive conditions relating to stage 1 fulfilled and implemented
- Funding secured for expansion of the mine and future working capital requirements
Posted by StaffWriter at 9:50 AM
February 23, 2011
R10bn job creation fund launched
The IDC has launched the R10bn loan scheme aimed at facilitating job creation and growing the economy in a move that follows up on a promise made by President Jacob Zuma in his 2011 state of the nation address.
Posted by StaffWriter at 9:55 AM
February 18, 2011
Joy, P&H integrate into single mining-equipment business
The Southern African divisions of Joy Global, mining equipment manufacturer Joy Mining Machinery Africa and P&H MinePro Services Africa, which have been separately run businesses within the same stable, have been combined into a single business, Joy Global Africa.
Posted by StaffWriter at 9:34 AM
February 16, 2011
Facing the BEE Facts
Since the introduction of BEE, it is now regulated that proof of BEE compliance is through BEE certificates and the accreditation of Verification Agencies is now compulsory (Verification Agencies are companies that issue out BEE Certificates). Now that every business within the South African borders is aware they need a BEE certificate, where are we headed?Posted by StaffWriter at 12:35 PM
Empowerment funds with teeth?
Sanlam's new empowerment fund scheme is for previously disadvantaged South Africans only.
Posted by StaffWriter at 9:49 AM
Lack of Skills Development Costs R550bn per annum
Stellenbosch University recently uncovered staggering findings regarding the impact of illiteracy on the economy: revealing an estimated loss of R550bn per annum. As a result of the deteriorating quality of schools and education in general; the GDP is approximately 23 to 30 percent lower than it could be. This stands in stark contrast to the estimated BEE Ownership deals cumulatively tallying R550bn in total.Posted by StaffWriter at 7:24 AM
February 8, 2011
How To Become BEE Compliant
A step by step guide by EconoBEE, leading BEE compliance consultancy
More often than not, business owners want to become BEE compliant but don't know how or can't afford to lose valuable time on frustrating administrative tasks. Gavin Levenstein, Chief Operating Officer at EconoBEE offers these guidelines on how to become BEE compliant using tried and tested techniques explained in practical business friendly terms.
Posted by bernievn at 12:12 PM
Local Bid Specialist Achieves International Accreditation
A local bid specialist has become the only person in South Africa to enjoy Practitioner Level accreditation from the Association of Proposal Management Professionals (APMP), a global organisation formed 22 years go to advance the arts, sciences, and technology of new business acquisition and to promote the professionalism of those engaged in those pursuits.Posted by bernievn at 12:11 PM
ACTOM acquires specialist air conditioning engineers and contractors company Luwa SA
The well-known South African Broad Based Black Economic Empowerment (BBBEE) electrical engineering group ACTOM (Pty) Ltd (ACTOM) via their Power Conversion Division has acquired leading air-conditioning engineers and contractors specialist company Luwa (SA) (Pty) Ltd (Luwa SA) from its South African shareholders.
Posted by bernievn at 12:07 PM
February 3, 2011
Colluding firms worry state: Ndebele
Johannesburg - The large-scale involvement of construction firms in collusive bidding practices is concerning to the government as a major client, Transport Minister Sibusiso Ndebele said on Thursday.
Posted by StaffWriter at 9:48 AM
February 1, 2011
Facing the Facts: Labour Broker Research in 2010
During 2010, several important pieces of research appeared regarding the South African labour broking industry. The National Association of Bargaining Councils (NABC) produced an important estimate of the number of labour broker workers in South Africa, the first updated figure since 2006. The NABC suggests that there are 979,539 labour broker workers in SA, compared to the previous estimate of approximately 500,000 labour broker workers. The NABC figures indicate that the labour broking industry is significantly larger than anyone has yet suggested.
Posted by StaffWriter at 9:35 AM
January 31, 2011
Reminder to businesses on the 31st of January BEE Certificates deadline
Inforcomm would like to remind businesses that the 31st of January 2011 is the expiry date for certificates issued by unaccredited BEE Verification Agencies. Certificates that will remain valid are only those issued by agencies that have been accredited by the South African National Accreditation Systems (SANAS).
Posted by StaffWriter at 8:53 AM
January 19, 2011
DTI Gazette Calls For Auditors Involvement In BBBEE Verification
The Department of Trade and Industry has now gazetted for comment their plan to open BEE verification to the auditing profession. This move comes after serious conflict and controversy in the industry; with the currently accredited BEE verification agencies offering little consistency.Posted by StaffWriter at 3:38 PM
January 14, 2011
Government moves to open BEE verification to auditors
Government has called for public comment on a proposed amendment to South Africa's broad-based black economic-empowerment (BBBEE) codes of good practice, allowing registered auditors to conduct BBBEE verifications and issue verification certificates as from April 1, 2011.
Posted by StaffWriter at 7:33 AM
January 11, 2011
Call For Changes To BEE Certificates
BEE certificates are expected to be a true reflection of a company's current BEE status but due to misunderstanding and incorrect application of the codes this opens a door to controversy and misrepresentation.Posted by StaffWriter at 9:52 AM
January 10, 2011
Inforcomm's Securitised BEE Certificates are finally here
Inforcomm launches Securitised BEE Certificates, A First in the BEE Verification Industry
Inforcomm BEE Verification Ratings has become the first BEE Verification Agency in the industry to issue securitised BEE certificates. These certificates are now available to clients from January this year, going forward.
Posted by StaffWriter at 10:04 AM
Zuma: No progress in job creation
There has not been much progress in government's job creation project due to the economic crisis that hit the world recently, President Jacob Zuma said during an interview with the South African Broadcasting Corporation on Sunday.
Posted by StaffWriter at 9:48 AM
January 4, 2011
New Draft Of Financial Services Charter Sees Improvement
The DTI Minister, Dr Rob Davies has issued a new draft of the Financial Services Charter (FSC); gazetted in terms of 9(5) of the B-BBEE Act.
Posted by StaffWriter at 7:23 AM
December 1, 2010
Westcon SA gets new BEE partner - Datatec
JSE- and Aim-listed information and communication technology group Datatec announced on Wednesday that the Mineworkers Investment Company (MIC) has become the new broad-based black economic-empowerment (BBBEE) partner in its South African distribution business Westcon South Africa (Westcon SA).
Posted by StaffWriter at 10:02 AM
November 30, 2010
Doubts cast over BBBEE procurement scores
Many South African organisations may have unknowingly distorted procurement's role in broad-based black economic empowerment (BBBEE) by purchasing from suppliers who have engaged in "fronting".
Posted by StaffWriter at 10:28 AM
November 29, 2010
Consistency in Verification
Consistency is one of the most important aspects of verification, says EconoBEE, specialist BEE consultants.
Posted by StaffWriter at 2:03 PM
November 25, 2010
Mentoring Little Sisters
EFILOE Seseane is a girl of many talents. The acclaimed actress, presenter and voice-over artist recently revealed her softer side by launching 18twenty8, a non-governmental organisation helping high school girls to focus on education and live their dreams.
Posted by StaffWriter at 10:05 AM
November 24, 2010
Inforcomm launches Securitised BEE Certificates, A First in the BEE Verification Industry
Inforcomm BEE Verification Ratings has become the first BEE Verification Agency in the industry to issue securitised BEE certificates. These certificates will be available to their clients from January 2011 going forward.Posted by StaffWriter at 1:06 PM
November 22, 2010
City Lodge Hotels gets level 3 BBBEE status
The City Lodge Hotels group has been accredited as a Level 3 Broad-Based Black Economic Empowerment (BBBEE) contributor by the National Empowerment Rating Agency (NERA). It was previously a Level 4 contributor.
Posted by StaffWriter at 9:41 AM
November 19, 2010
Turning the Key for Responsible Business and Development in Southern Africa
Under the theme "Business and Development: Doing responsible business in the southern Africa", the Southern Africa Trust and the Development Bank of Southern Africa (DBSA), with support from the Flemish Government will on 25 November 2010 host a public dialogue at the DBSA office in Midrand, South Africa.Posted by StaffWriter at 7:12 AM
November 18, 2010
Inforcomm launch BEE Rating and Your Business Workshops
It has become more and more important for businesses to have valid BEE Verification Certificates from accredited BEE Verification Agencies. However, most business still do not understand the ins-and-outs of BEE and how their BEE rating can affect their business.Posted by StaffWriter at 2:53 PM
November 17, 2010
Pink Elephant boosts BBBEE accreditation to Level 2
Following an independent verification exercise by the National Empowerment Rating Agency, Pink Elephant today announced that the company's BBBEE rating has increased, once again, to be recognised as a Level 2 contributor.
Posted by StaffWriter at 3:09 PM
Procurement told to 'wake up' on BBBEE
South African companies seeking to improve their broad-based black economic empowerment (BBBEE) rating are failing to fully benefit from the 'preferential procurement' element.
Posted by StaffWriter at 2:44 PM
November 15, 2010
Inforcomm on the issue of BEE fronting
Inforcomm welcomes the decision by the BEE Advisory Council to implement tougher measures on fronting.
Posted by StaffWriter at 2:52 PM
SIU asked to probe cases of fraud
SOME accountants, lawyers and even broad-based black economic empowerment verification agencies are advising people on how to front.
Posted by StaffWriter at 10:40 AM
November 9, 2010
Identifying risks in your B-BBEE audits
What risks do clients face receiving certificates from verification agencies? Reducing risks when audited by verification agencies should become priority within organisations to ensure accurate certificates are received.
Posted by StaffWriter at 9:06 AM
November 3, 2010
Level one BBBEE rating for Conexus
Conexus has received a level one rating for its commitment to the principles of BBBEE. This is according to independent rating company SERA, which provided an impartial verification of the BBBEE initiatives undertaken by Conexus.
Posted by StaffWriter at 1:42 PM
October 26, 2010
Property Charter shows commitment to transformation - Doidge
Public Works Minister Geoff Doidge said on Tuesday that the Property Charter would provide a statement of commitment by the property sector to a growth strategy based on empowering previously disadvantaged South Africans.
Posted by StaffWriter at 9:37 AM
October 19, 2010
Closing the gap between continental promises and reality
The State of the Union Coalition will on 20 October 2010, have an engagement with the Pan African Parliament at Gallagher Estate in Midrand, South Africa. This meeting follows the launch of the continental report of the State of the Union project that took place in July 2010.Posted by StaffWriter at 7:43 AM
October 18, 2010
Tempest Car Hire gets Level 2 BBBEE Rating
Tempest Car Hire is set to increase its corporate revenues with the announcement that it is the first company in the Imperial Group to achieve a Level 2 BBBEE status, with 125% recognition.
Posted by StaffWriter at 10:06 AM
October 15, 2010
The business of doing business
Vibrant, passionate, forthright and - according to peers - a pleasure to work with, at age 35 Cora Fernandez is leading the way for the private equity industry in South Africa.
Posted by StaffWriter at 7:48 AM
October 11, 2010
co.za is now BBBEE
Uniforum, the administrators of the co.za domain, has been certified as Broad-based black economic empowerment (BBBEE) compliant by AQRate.
Posted by StaffWriter at 9:37 AM
Tempest Set to Increase Corporate Business with New Level 2 BBBEE Rating
Johannesburg, 11th October, 2010 - Tempest Car Hire is set to increase its corporate revenues with the announcement that it is the first company in the Imperial Group to achieve a Level 2 BBBEE status, with 125% recognition.Posted by StaffWriter at 7:23 AM
October 8, 2010
Village Main Reef to acquire 74 percent of Cons Murch
Village Main Reef announced on Thursday that it has entered into a binding agreement, subject to certain conditions precedent, to purchase 74 percent of Consolidated Murchison mine, a R1.3 million ounce equivalent gold deposit, which produces both gold and antimony, from To The Point Growth Specialists for R30 million.
Posted by StaffWriter at 8:20 AM
October 7, 2010
BMF annual summit to discuss BBBEE framework
Broad Based Black Economic Empowerment (BBBEE) was under the spotlight at this years' two-day Black Management Forum (BMF) annual conference which gets underway at the Sandton Convention Centre in Johannesburg.
Posted by StaffWriter at 10:01 AM
September 29, 2010
State tenders are a crucial part of economic empowerment
In February this year, the BBBEE (broad-based black economic empowerment) codes of good practice marked the third anniversary since their gazetting in 2007.
Posted by StaffWriter at 2:19 PM
September 28, 2010
BBEE - Gloves off. Let's tell the truth!
How to win friends to your BBBEE idea and influence the masses.
Over the past few weeks a number of journalists and commentators have sliced, diced and packaged broad-based black economic empowerment (BBBEE) in much the same fashion as they would prepare a product for sale to the public.
Posted by StaffWriter at 10:26 AM
September 27, 2010
Mercedes revs up its BEE ratings
The Mercedes-Benz group of companies in South Africa said yesterday it was in the lead when it comes to black economic empowerment ratings in the auto industry.
Posted by StaffWriter at 10:31 AM
September 24, 2010
Participatory Economy versus The Reigning Linear Trap
True compassion is more than flinging a coin at a beggar; it comes to see that an edifice which produces beggars needs restructuring. - Martin Luther King Jr. MY 'Cry for the Beloved Country' column of last week provoked some negative reactions in certain quarters.
Posted by StaffWriter at 8:31 AM
September 23, 2010
dti's move on BEE verification comes under scrutiny
The Association of Black Verification Agencies (Abva) criticised the Department of Trade and Industry (dti) yesterday for allowing public auditors to conduct BBBEE (broad-based black economic empowerment) verifications, saying this approach was short-sighted and would cause damage to its BEE programme.
Posted by StaffWriter at 9:36 AM
September 22, 2010
Strict criteria for B-BBEE Employee Share Trusts
If you establish an employee share ownership scheme for the benefit of black employees, it must comply with rigid criteria before your company will qualify for any points on the B-BBEE 'ownership scorecard'.
Posted by StaffWriter at 1:01 PM
September 16, 2010
Time to learn from the Afrikaners
IT'S all quiet on the western front.
This refers to President Jacob Zuma's Broad- Based Black Economic Empowerment (BBBEE) Advisory Council.
Posted by StaffWriter at 2:00 PM
September 15, 2010
ABVA states its objections to dti's inclusion of accountants & auditors into the BEE verification industry
ABVA's OBJECTION TO THE DTI'S APPROACH TO INCLUSION OF AUDITOR'S AND ACCOUNTANTS IN THE VERIFICATION INDUSTRY
ABVA would like to respond to the recent press release by the Department of Trade and Industry (the dti) about the approval of the IRBA and SAIPA to approve there members in relation to BEE Verification.
Posted by StaffWriter at 1:14 PM
September 13, 2010
Rethinking BEE priorities
Sipho Ngcobo argues it is time to dump the current BBBEE and look at what works.
Posted by StaffWriter at 9:38 AM
September 9, 2010
'Tighten tender processes'
Cape Town - Government needs to tighten the tender system in municipalities to fight corruption and take politicians and councillors who abuse it to court, a parliamentary report on service delivery protests recommended on Thursday.
Posted by StaffWriter at 9:37 AM
September 7, 2010
BMF to discuss institutionalisation of BBBEE
The Black Management Forum (BMF) will hold discussions on the institutionalisation of the Broad Based Black Economic Empowerment (BBBEE) framework at its conference this year, BMF President Jimmy Manyi said Tuesday.
Posted by StaffWriter at 9:37 AM
September 6, 2010
What BBBEE should really look like
Analysts argue a shift from ownership to enterprise development is needed.
Posted by StaffWriter at 9:41 AM
SA AG gets clean audit report
Johannesburg - The Auditor-General of South Africa (AGSA) has received yet another clean audit report, reflecting a commitment to leading by example in the area of financial reporting, good governance and accountability within the public sector.
Posted by StaffWriter at 7:53 AM
BLACK SHAREHOLDING OF THE JSE
The Association of BEE Verification Agencies (ABVA) congratulates the Johannesburg Stock Exchange (JSE) for commissioning the landmark study on the effective participation of black people as shareholders on the JSE.Posted by StaffWriter at 7:48 AM
September 3, 2010
Hollow power
AFTER knuckling down for five months, the Johannesburg Stock Exchange has made public a report that reminds us that all black South Africans have attained so far is political, not economic power.
Posted by StaffWriter at 8:06 AM
September 1, 2010
B-BBEE imperatives at Switch
The Switch Group, a multi-disciplinary brand consultancy, has been awarded a Level Two Broad-Based Black Economic Empowerment (B-BBEE) rating for the second consecutive year.
Posted by StaffWriter at 10:15 AM
August 31, 2010
BBBEE needs revision: Manuel
PARLIAMENT - National Planning Commission Minister in the Presidency Trevor Manuel conceded on Tuesday that the broad-based black economic empowerment (BBBEE) policy needed to be revised.
Posted by StaffWriter at 10:13 AM
August 25, 2010
Imperial's Outstanding Results And Strongest Balance Sheet In Recent Years Position The Group For Growth
- HEPS from continuing operations up 40% to 976 cps
- Operating profit up 34% to R 3 288 million
- Revenue 2% up to R 53 438 million
- Cash Conversion Ratio 119%
- Debt down from R10,2 bn to R8,3 bn; net debt:equity (excl. prefs) 39%
- Final dividend 200 cents
Posted by StaffWriter at 7:55 AM
August 16, 2010
LaserCom boosts BBBEE scores
Direct marketing, variable print and mail processing specialist LaserCom, a division of Bytes Technology Group, has been rated as a Level 2 (AAA) Contributor and Value-Adding Supplier according to the BB-BEE Codes of Good Practice by accredited verification agency Empowerdex. This is the second year running that the company has achieved the rating.Posted by StaffWriter at 11:53 AM
August 12, 2010
Meet BBBEE targets or else: MEC
Businesses that do not comply with Broad-Based Black Economic Empowerment (BBBEE) targets could soon find themselves falling foul of the law.
Posted by StaffWriter at 9:06 AM
August 4, 2010
AAD certified as BBBEE Level 5 contributor
Arrow Altech Distribution (AAD), a member of the JSE listed Altech group of companies and NYSE listed electronics distribution giant, Arrow Electronics, was recently rated as a Broad-based Black Economic Empowerment (BBBEE) Level 5 contributor by the National Empowerment Rating Agency (NERA) under the Department of Trade and Industry's (DTI) BBBEE Code of Good Practice generic scorecard.
Posted by StaffWriter at 1:22 PM
August 3, 2010
ABVA ELECTS NEW BOARD
ABVA (the Association of BEE Verification Agencies) is pleased to announce the election of the new Board of Directors for the 2010-2011 period. At the latest Annual General Meeting attended by the ABVA membership, three new members were elected and four members were re-elected to posts on the Board. The new ABVA board reflects the diversity of the organisation as well as the immense expertise in BEE and BEE verification found amongst the membership.
Posted by StaffWriter at 8:36 AM
August 2, 2010
Groundbreaking BBBEE agreement puts ad agency behind township entrepreneurs
Brand design agency The Red Quarter (TRQ) has entered into a pioneering shareholding agreement that sees a Section 21 company, The Mkhwanazi Academy for Christian Entrepreneurship (MACE), taking up a 20% stake in the agency.
Posted by StaffWriter at 11:31 AM
July 30, 2010
More women in business makes good sense
Women are still lagging behind their male counterparts in black economic empowerment (BEE) benefits, despite the advantages companies gain by having a woman in top management or as a shareholder.
Posted by StaffWriter at 7:29 AM
July 29, 2010
Empowerment Wins Business: Aligning B-BBEE and Bid Best Practice
"Understanding B-BBEE regulations helps companies to win both government and corporate tenders," says Sandy Pullinger, chairperson of the Association of Proposal Management Professionals (APMP) South Africa.Posted by StaffWriter at 1:59 PM
White males still dominate - Mpho Nkeli
CEE acting chairperson calls for clampdown on minority overrepresentation in workplace
Posted by StaffWriter at 10:02 AM
July 28, 2010
DTI urges small black businesses to make use of BBSDP grant
South Africa's Department of Trade and Industry (DTI) and the World Bank on Wednesday launched the revised guidelines of black business suppliers development programme (BBSDP) aimed at addressing the principles behind the broad-based black economic-empowerment (BBBEE) policy.
Posted by StaffWriter at 9:41 AM
July 25, 2010
Once-off equity tax a lost opportunity to end BEE
THE PSYCHOLOGY involved in black economic empowerment (BEE) is quite interesting, because it influences the behaviour of the people driving the programme's success or failure.
Posted by StaffWriter at 9:40 AM
July 20, 2010
Bytes Document Solutions boosts BBBEE rating to Level 2
Bytes Document Solutions, the authorised Xerox distributor to 27 African countries, has been noted as one of the most empowered office automation companies in South Africa, after being audited by Empowerdex, an accredited verification agency.
Posted by StaffWriter at 9:36 AM
July 16, 2010
Renault sees BEE as tool to build 'truly South African' company
Renault South Africa (SA) believes its long-term, but methodical, approach to improving its broad-based black economic empowerment (BBBEE) level would allow it to continue to do so in a sustainable manner.
Posted by StaffWriter at 11:22 AM
July 8, 2010
50/100 points should be allocated for BBBEE compliance - BMF
Posted by StaffWriter at 9:57 AM
June 18, 2010
Statement: Deputy President Kgalema Motlanthe on BEE
DEPUTY PRESIDENT REAFFIRMS GOVERNMENTS' COMMITMENT TO FACILITATING ECONOMIC GROWTH
Posted by StaffWriter at 7:39 AM
Do more for BBBEE - Motlanthe
Pretoria - More needs to be done to address the lagging of Broad Based Black Economic Empowerment (BBBEE) in the metals and engineering industry, says Deputy President Kgalema Motlanthe.
Posted by StaffWriter at 7:37 AM
June 14, 2010
KPMG awarded top rating for BEE
AUDIT, tax and advisory firm KPMG was independently rated AAA for its broad-based black economic empowerment (BBBEE) last week, which equates to a level 2 contributor under the Department of Trade and Industry codes.
Posted by StaffWriter at 10:30 AM
June 10, 2010
Research Report Calls for Better Investment in Young People in Southern Africa
The Southern Africa Trust will launch a new report on Youth, Violence and Civic Engagement in the SADC Region at 18h00 on 20 July 2010 at Atlas Studios in Johannesburg, South Africa. The launch will take place during a "Critical Thinking Forum" public dialogue in partnership with the Mail & Guardian newspaper and the Trust's youth-focused partner organisations, including a panel of representatives of youth organisations, government officials, researchers, and the public in general.
Posted by StaffWriter at 7:23 AM
June 9, 2010
SABMiller issues shares under BBBEE
Business Financial Newswire - SABMiller has issued 46,173,000 shares in its South African Breweries subsidiary as part of the group's broad-based black economic empowerment transaction.
Posted by StaffWriter at 9:36 AM
May 31, 2010
Government gets serious about BEE
JOHANNESBURG - At last, the work of President Jacob Zuma's Broad Based Black Economic Empowerment (BBBEE) Advisory Council has started in earnest.
Posted by StaffWriter at 2:54 PM
May 24, 2010
A rethink on BEE
Leolo argues economic deracialisation cannot happen in the current unguided manner.
It is important to remind ourselves of what (the dti) stated when it laid out its strategy on broad based black economic empowerment (BBBEE) that; "Apartheid systematically and purposefully restricted the majority of South Africans from meaningful participation in the economy.
Posted by StaffWriter at 10:15 AM
May 23, 2010
Measures to stop corruption
Radical moves are afoot to place companies entering into broad-based BEE deals under the microscope - and finally to put a stop to the abuse of the empowerment process
Posted by StaffWriter at 10:32 AM
May 20, 2010
BEE progress not enough -Zuma
Pretoria- President Jacob Zuma says although much progress has been made in advancing black economic empowerment, it is still not enough.
Posted by StaffWriter at 10:08 AM
More work needed for BEE to play its part - mininster
More work needs to be done to make broad-based black economic empowerment (BBBEE) a contributor to development and economic growth, Minister of Trade and Industry Rob Davies said on Thursday.
Posted by StaffWriter at 10:06 AM
May 19, 2010
BEE vital for economic growth
BLACK Economic Empowerment is the only available tool South Africans have to grow the economy while building racial harmony.
Posted by StaffWriter at 10:27 AM
May 10, 2010
ABVA 2009 Board Achievements Recognised
ABVA 2009 Board of Directors' Achievements Recognised
The Association of BEE Verification Agencies (ABVA) will soon be electing a new Board of Directors. Current Chairperson of the ABVA Board Andile Tlhoaele who has served for four years will not be standing for re-election is proud to reflect on the achievements of the Board under his leadership.
Posted by StaffWriter at 10:33 AM
Belay concludes 26% BEE deal
Belay Knowledge Management (Belay) today announced it has reached the black empowerment goals set by the company directors back in 2005, by obtaining a level 2 certification.
Posted by StaffWriter at 9:50 AM
May 7, 2010
New empowerment channel for Swedish firms
South Africa's Department of Trade and Industry (DTI) and the Swedish Trade Council signed an agreement on Friday designed to foster a coordinated approach for compliance by Swedish companies with South Africa's broad-based black economic-empowerment (BBBEE) requirements.
Posted by StaffWriter at 7:31 AM
April 30, 2010
Zuma calls for decisive land redistribution
Significant changes would have to be made to the "willing buyer, willing seller" model of land transacting to move forward decisively with the land redistribution programme, President Jacob Zuma said yesterday.
Posted by StaffWriter at 9:37 AM
Zuma wrong on the constitution, BEE: Zille
Democratic Alliance leader Helen Zille has dismissed President Jacob Zuma's charge that her party is abusing the constitution by challenging government decisions in court.
Posted by StaffWriter at 8:21 AM
April 19, 2010
Consulting Engineers South Africa tackles public sector procurement
Consulting Engineers South Africa (CESA) embarks on national campaign to inform and educate public sector clients about best practices
Posted by StaffWriter at 9:53 AM
April 9, 2010
Empowered firm offers industry's first learnership
Black economic empowerment (BEE) mobile crane hire-service provider Target Cranes has established the first mobile crane operator training school in South Africa.
Posted by StaffWriter at 11:53 AM
April 6, 2010
Nehawu's Bantu Investment Holdings to list
The listing will incorporate the Nando's stores.
Bantu Investment Holdings (Bantu), a subsidiary of the trade union investment company Nehawu Investment Holdings (NIH), is pursuing investment opportunities across Africa worth R2-billion.
Posted by StaffWriter at 1:55 PM
Special report podcast: Rob Davies - minister of trade and industry
Making BEE broad-based; China and South Africa getting closer.
ALEC HOGG: In this special podcast, we speak with the Minister of Trade & Industry, Rob Davies. Minister you've had a busy couple of weeks - let's just start off with the meeting today - the orientation of the advisory council on broad-based black economic empowerment. BBBEE is a big part of your action plan for the improvement of the industrial base of South Africa. How did you select the members of this council?
Posted by StaffWriter at 1:52 PM
'More than 75% of private firms not BEE compliant'
More than 75% of companies in the private sector are not complying with broad-based black economic empowerment [BBBEE], Minister of Trade and Industry Robe Davies said on Tuesday.
Posted by StaffWriter at 1:48 PM
March 29, 2010
ABVA BEE Verification Analyst Training Workshop Hailed As A Success
Johannesburg 29 March - The Association of BEE Verification Agency (ABVA) Training Portfolio recently completed the successful Johannesburg leg of their groundbreaking training sessions on the Codes of Good Practice and the Verification Methodology. The workshops were presented by Chris Van Wyk, ABVA Technical Director and Brigitte Brun, ABVA Training Director.
Posted by StaffWriter at 11:56 AM
March 28, 2010
Nafcoc squares up to big broadcasters
Consortium's legal bid could spell major setback for digital TV in SA
The advent of digital television in South Africa may be delayed by a legal bid to stop Icasa from allowing the SABC, M-Net and e.tv to broadcast more channels.
Posted by StaffWriter at 8:25 AM
March 25, 2010
Botswana Vice President to launch the call for nominations for the 2010 Drivers of Change Awards
The Vice President
of Botswana, Lieutenant General Mompati Merafhe, will launch the call for nominations
for this year's Drivers of Change awards at 18h00 on 30 March 2010 at the Gaborone
International Convention Centre in
Posted by StaffWriter at 1:43 PM
March 22, 2010
Indigenisation law set to be revised
A controversial indigenisation law that has threatened to further destroy Zimbabwe's reputation as a safe investment zone, could be revised within the next few days.
Posted by StaffWriter at 9:43 AM
March 19, 2010
Solidarity BEE survey does not address direct ownership - DTI
South Africa's Department of Trade and Industry (DTI) said on Friday that it was concerned about trade union Solidarity's findings that black-economic empowerment (BEE) had led to significant increase in black ownership on the JSE and insurance policies.
Posted by StaffWriter at 9:34 AM
March 16, 2010
Driving Sustainable Logistics Unlocks Economic Growth for South Africa
Joint press release by the Council for Scientific and Industrial Research (CSIR) and IMPERIAL Logistics, in partnership with Stellenbosch University.Johannesburg, South Africa, 16 March 2010 - The value that logistics adds to the South African economy, contributing to the country's global competitiveness and sustainability should be greater than the costs. This is according to the 6th State of Logistics™ survey, the authoritative study on logistics in the country as published today by the Council for Scientific and Industrial Research (CSIR), IMPERIAL Logistics and Stellenbosch University.
Posted by StaffWriter at 11:57 AM
March 15, 2010
ABVA trains the Industry
The Association of BEE Verification Agencies (ABVA) has begun a roll-out of a series of ABVA-accredited training sessions on the BEE Scorecard and the Verification Methodology.
Posted by StaffWriter at 2:42 PM
BEE Verification Industry in need of Regulation
Brigitte Brun: Director: Association of BEE Verification Agencies - Membership Portfolio
As the infant verification industry grows with demand, it is an area of grave concern that the industry has no official regulator. This lack is a critical issue for an industry that has the mandate from government to issue official BEE Certificates for companies who in turn use these Certificates for obtaining tenders.
Posted by StaffWriter at 2:09 PM
March 8, 2010
Bid to list gambling board boss as supplier
A SENIOR executive of a licensed gambling company wanted to add a computer and stationery supply company owned by the Eastern Cape's gambling board boss to a list of approved suppliers to the gambling company.
Posted by StaffWriter at 10:33 AM
March 3, 2010
ABVA - BEE Codes Clarification
Interpreting the Codes: Best Practice in BEE Verification
Issued by ABVA: FOR IMMEDIATE RELEASE
ABVA, the Association of BEE Verification Agencies, would like to clarify some issues regarding the on-going interpretation of the BEE codes. As stated by the dti and agreed by ABVA, ABVA does not set policy and never has or ever intends to pronounce on policy.
Posted by StaffWriter at 8:57 AM
February 25, 2010
Innovative Franchise Concepts launches Fast Forward Café - formalising the informal sector
Innovative Franchise Concepts (IFC), a company that bridges the gap between corporate enterprise development funds and the beneficiaries they are intended to reach, has been awarded a tender by the Metropolitan Trading Company that will see it change the face of street vending in Johannesburg.
Posted by StaffWriter at 10:37 AM
February 19, 2010
Procurement fraud in government departments emphasises need for strong compliance culture
In his Budget Speech, Finance Minister Pravin Gordhan acknowledged the reality of procurement fraud in government departments and announced that a team has been set up to look at procurement as a whole with a view to reducing the opportunities for fraud.
Posted by StaffWriter at 8:49 AM
February 17, 2010
IMPERIAL Logistics Continues to Advance its B-BBEE Rating
Johannesburg, South Africa, 17 February 2010, IMPERIAL Logistics is delighted to announce its improved level four (4) Broad-Based Black Economic Empowerment (B-BBEE) rating received from the NERA Verification Agency in December 2009. IMPERIAL Logistics also qualifies as a Value-adding Supplier offering its customers an enhanced Procurement Recognition Level of 125%.
Posted by StaffWriter at 8:40 AM
February 12, 2010
BEE: A man-made disaster
Sipho Ngcobo dissects the problems with BEE.
JOHANNESBURG - I would really hate to say I told you so.
The brutally frank pronouncement by Deputy President Kgalema Motlanthe about a week ago that black economic empowerment has failed is an amazing vindication of what I have been trying to argue.
Posted by StaffWriter at 8:10 AM
February 10, 2010
Massmart achieves level four BBBEE rating
The Massmart Group of companies has achieved a Level Four Broad Based Black Economic Empowerment (BBBEE) contributor status, two years earlier than planned. Massmart achieved a score of 66.14% from ratings agency Empowerdex, following a comprehensive audit of the Group's BBBEE performance.
Posted by StaffWriter at 10:09 AM
February 8, 2010
SOUTH AFRICA: Inequality not so black and white
INEQUALITY NOT SO BLACK AND WHITE , 8 February 2010 (IRIN) - The growing gulf between the haves and have-nots in the black population has given South Africa the dubious distinction of becoming one of the world's most unequal societies, according to a recent report by the Organisation for Economic Co-operation and Development (OECD), an inter-government body.
Posted by StaffWriter at 9:58 AM
February 5, 2010
New body to expedite empowerment
THE government is banking on the recently appointed Broad-Based Black Economic Empowerment Council to speed up implementation of its affirmative action policy.
Posted by StaffWriter at 9:37 AM
January 27, 2010
FEBRUARY 1st HERALDS NEW ERA IN BROAD-BASED BLACK ECONOMIC EMPOWERMENT VERIFICATION
ABVA
(the Association of BEE Verification Agencies) would like to remind business of
the impending February 1st deadline.
Posted by StaffWriter at 1:15 PM
January 26, 2010
New Southern Africa Youth Exchange Programme to be Launched
The Southern Africa Trust in collaboration with AFS Interculture South Africa will, on Thursday 4 February 2010, launch a new southern Africa cross-border youth exchange programme called sayXchange. The launch will be held at The Wanderers Club, Johannesburg, starting at 18h00. It will be facilitated by the Southern Africa Trust's change4ever campaign ambassador and prominent media personality, Unathi.Posted by StaffWriter at 2:16 PM
January 23, 2010
CIPRO making it difficult to do business - COPE Tshwane
STATEMENT ON THE DIFFICULTY OF DOING BUSINESS IN SOUTH AFRICA (TSHWANE)
The Congress of the people (COPE) business and professionals Regional Working Committee met on the 18th January 2010.
Posted by StaffWriter at 9:39 AM
January 20, 2010
ABVA is thrilled to announce its first Corporate ABVA Member: Goodyear Tyre and Rubber Holdings (Pty) Ltd.
As of 2009, ABVA opened up various categories of membership to Corporates and BEE Consultants. As the official body representing BEE Verification Agencies, ABVA aims to promote an environment whereby Agencies, Consultants and the end users themselves, the corporate clients, have a forum within which to consult and discuss the intricate issues of Broad-Based Black Economic Empowerment.
Posted by StaffWriter at 1:46 PM
January 14, 2010
SAB BEE deal done 'in good faith'
Cape Town - There was no cynicism or deviousness about SABMiller's broad-based black economic empowerment (BBBEE) transaction, which was approved by shareholders at a meeting in London on Wednesday.
Posted by StaffWriter at