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 9:32 AM
Positive spin-offs from BEE accreditation
What began as a process to merely comply with BBBEE Codes in order to meet client requirements has turned into an extremely valuable exercise in organisational development for a Centurion-based national coffee distributor, Frontier Coffee, which has been awarded a Level 2 (with value adding) BBBEE rating, Christo van Rensburg, General Manager of Frontier Coffee tells BEENEWS.co.za.
Posted by StaffWriter at 8:23 AM
January 5, 2010
Endress+Hauser SA - 25 years of innovation
Anniversaries should be celebrated, as was the case just recently when Endress+Hauser South Africa toasted its 25th. Over the past 25 years the 'People for Process Automation' have developed from a niche provider of level instruments sold via an agency, to a R250 million Broad Based Black Economic Empowerment (BBBEE) company that sets a standard for automation in South Africa.
Posted by StaffWriter at 11:35 AM
December 17, 2009
New research shows BEST Employers are also BEST Empowered Employers
Findings
from research and media group CRF South Africa - publishers of the
authoritative annual BEST Employers
list of choice employers - have shown that there is a strong link between
companies that prioritise empowerment and transformation and those that are accredited as BEST
Employers in South Africa.
Posted by StaffWriter at 10:10 AM
Sparrows Village benefits from CSI donation
Sparrows Village, a place of safety and shelter for adults and children who have been infected or affected by the HIV/AIDS pandemic, received a substantial donation from the Integr8 Group, one of South Africa's largest privately owned national BEE ICT network integration and infrastructure management specialists.
Posted by StaffWriter at 10:00 AM
December 15, 2009
Market watcher: David Shapiro - Sasfin
Today's markets. 'I think April/May is going to be a very telling time.'
ALEC HOGG: Hello, good evening and welcome to the SAfm Market Update with Moneyweb. I'm Alec Hogg.
Posted by StaffWriter at 9:51 AM
December 14, 2009
Inequality a great political risk - SAIRR
Inequality between African South Africans is as great a political risk factor for South Africa as inequality between race groups.
Posted by StaffWriter at 9:49 AM
BEE investing 101
JOHANNESBURG - A number of readers last week expressed the view that Xelexwa is deliberately trying to depress the Simmer & Jack stock price, given that Xelexwa, Simmers's black economic empowerment (BEE) partner, can in 2010 settle its liabilities, and, in theory at least, cash in on the 22% stake it owns in Simmers.
Posted by StaffWriter at 9:40 AM
December 12, 2009
Fighting for the rights of the rightful beneficiaries
If you want an inspiring role model for young entrepreneurs, then look no further than Isaac Shongwe, who was hauled before the courts last week by a major trade union.
Posted by StaffWriter at 7:42 AM
December 11, 2009
"New" Simmers board looks doomed
JOHANNESBURG - Vulisango CEO Valence Watson has effectively rejected a new board proposed by Simmer & Jack, the stricken brownfields gold digger, in which Xelexwa, a division of Vulisango, holds the largest stake, at 22%. On Friday, Simmers announced, along with a new proposed board, that its CEO and chairman, Gordon Miller and Nigel Brunette, would be stepping down.
Posted by StaffWriter at 7:50 AM
December 10, 2009
BBBEE Council 'long overdue'
Pretoria - Business Unity South Africa (BUSA) has welcomed the appointment of the BBBEE Advisory Council announced last week by President Jacob Zuma, describing the move as long overdue.
Posted by StaffWriter at 10:12 AM
Mvela 'factors' in R120m deal
Cape Town - Mvelaphanda Holdings, the private BEE investment company, has made a shift into specialist financing with the acquisition of a strategic stake in Merchant Factors.
Posted by StaffWriter at 10:09 AM
Ownership by BEE partners must reach 30% by 2017, says Manyi
The Black Management Forum (BMF) would like ownership targets for black economic empowerment (BEE) partners to be no less than 30 percent by 2017, Jimmy Manyi, the president of the organisation, said on Tuesday.
Posted by StaffWriter at 10:03 AM
December 8, 2009
Deal enhances SABMiller BBBEE codes
SABMiller's empowerment (BBBEE) transaction will enhance its compliance with governments' Codes of Good Practice on Broad-Based Black Economic Empowerment, the group says.
Posted by StaffWriter at 12:38 PM
December 7, 2009
BVA Welcomes the BEE Council appointment by the President
ABVA (the Association of BEE Verification Agencies) welcomes the decision by President Jacob Zuma to establish the long awaited BEE Advisory Council in terms of the B-BBEE Act of 2003.Posted by StaffWriter at 2:21 PM
December 4, 2009
Barloworld's Shongwe in union-BEE storm
A TRADE union has accused Barloworld Logistics Africa CEO Isaac Shongwe of abusing his position as trustee of its investment trust to cash in on its empowerment deals.
Posted by StaffWriter at 2:03 PM
December 3, 2009
Leading SA custom software developer BB&D awarded Level Four BBBEE Status
Leading South African custom software development company, Barone, Budge & Dominick (BB&D), has announced that its broad-based black economic empowerment (BBBEE) rating has been raised from Level Six to that of a Level Four contributor, with effect from 12 November 2009.
Posted by StaffWriter at 12:36 PM
Zuma appoints members of BBBEE Advisory Council
President Jacob Zuma has appointed members of the Broad-Based Black Economic Empowerment Council, in terms of the Broad-Based Black Economic Empowerment Council Act no 53 of 2003.
Posted by StaffWriter at 9:44 AM
December 2, 2009
Crane Operator Gets Heavyweight BEE Rating
One of Cape Town's leading mobile crane operators, Target Cranes, has been awarded a substantial level 3 contributor to BEE rating, with a procurement recognition level of 110%, as confirmed by BEE verification agency, Sera.
Posted by StaffWriter at 9:49 AM
November 29, 2009
Why BEE should be abolished
Black economic empowerment is one of the most destructive policies adopted by the ANC government since the advent of democracy in 1994.
Posted by StaffWriter at 10:02 AM
November 27, 2009
KZN takes lead with BBBEE Advisory Council
KWAZULU-NATAL has become the first province to appoint a Broad-Based Black Economic (BBBEE) Advisory Council.
Posted by StaffWriter at 1:31 PM
November 24, 2009
More affirmative action muckracking
PHILADELPHIA - In South Africa, the debate about race never really goes away. There are, however, some times when it is more prominent than others, and now is one of those times.
Posted by StaffWriter at 9:50 AM
November 23, 2009
City Lodge Hotels gets level four BBBEE status
The JSE-listed City Lodge Hotels group has had its Broad-Based Black Economic Empowerment verification status raised from Level 6 to that of a Level Four Contributor with a 100% recognition level.
Posted by StaffWriter at 11:13 AM
November 20, 2009
Vodacom faces CCMA over BEE deal
The Communication Workers Union (CWU) has started complaints proceedings against Vodacom over what it calls broken promises over its equity deal.
Posted by StaffWriter at 9:52 AM
November 19, 2009
Manyi gets tough on BEE compliance
The government will get tough on companies who do not comply with affirmative action and broad-based black economic empowerment laws, Labour Director-General Jimmy Manyi warned on Thursday.
Posted by StaffWriter at 9:44 AM
November 18, 2009
Should we nationalise the mines? - Jeremy Cronin
In recent months, ANC Youth League president, cde Julius Malema has called for the nationalisation of the mines. The mainstream media have predictably latched onto cde Malema's nationalisation call with delight. They hope to ridicule the demand and goad senior ANC and government leaders into banishing any thought of nationalisation, once and for all, finish and klaar.
Posted by StaffWriter at 11:20 AM
CCMA dismisses workers' share claim
An attempt by the Communication Workers' Union to secure more shares in Vodacom for its members working for the company was thrown out yesterday by the Commission for Conciliation, Mediation and Arbitration.
Posted by StaffWriter at 11:17 AM
Public Investment Corporation to resolve BEE status
The Public Investment Corporation (PIC), which manages about R800 billion of funds on behalf of the Government Employees Fund, is in discussions with the Department of Public Works to resolve concerns about the PIC's black economic empowerment (BEE) status.
Posted by StaffWriter at 7:31 AM
Bidvest boss rails against BEE lock-ins
Bidvest chairman Cyril Ramaphosa yesterday launched a fierce assault on black economic empowerment (BEE ) lock-in agreements, saying they inhibited black access to profit.
Posted by StaffWriter at 7:29 AM
November 17, 2009
Barloworld may get back its BEE security
Barloworld will in the next 10 days recoup all of the R125 million it placed in an interest-bearing account earlier this year to underpin its black economic empowerment (BEE) transaction if its share price remains at current levels.
Posted by StaffWriter at 11:45 AM
November 13, 2009
Dikgang Moseneke: The businessman judge
Deputy Chief Justice Dikgang Moseneke has a substantial stake in a group of companies whose style of business has put him uncomfortably close to the cut and thrust of corporate controversy.
Posted by StaffWriter at 10:10 AM
BCX re-examines empowerment
Listed outsourcing firm Business Connexion (BCX) will re-examine Gadlex's share in the company as it seeks to gain more black shareholders.
Posted by StaffWriter at 10:07 AM
Codes of good practice clash with Mining Charter
Although the South African mining industry has not experienced a setback following the implementation of the socioeconomic empowerment charter for the South African mining and minerals industry, which incorporates broad-based black economic-empowerment (BBBEE) ownership, there are some areas of confusion.
Posted by StaffWriter at 10:05 AM
November 9, 2009
Reassessing BEE
Should the government's broad-based black economic empowerment (BBBEE) strategy be reassessed and enterprise development be ditched? A leading accountancy firm and one of the country's leading empowerment and business development entities find themselves on different sides of the fence.
Posted by StaffWriter at 9:48 AM
TIM COHEN: The year that wasn't, and it isn't even over
From a corporate perspective, 2009 is shaping up to be the year that wasn't. The story of the year is the story of corporate deals that never happened, IPOs that were postponed or never mentioned at all, and an astounding, almost total absence of private equity deals of any significance. Even BEE deals seemed slow in coming and some of those that did exist were actually scrapped.
Posted by StaffWriter at 9:18 AM
November 6, 2009
BEE will survive, even if sadder, wiser
CONCERN is growing that lower corporate earnings, meagre dividends and equity weakness may soon put some empowerment groupings at risk. Does this raise the spectre of a government bail-out of black economic empowerment (BEE) players?
Posted by StaffWriter at 7:24 AM
November 4, 2009
Counting on more black accountants
The accounting profession yesterday announced the gazetting of the chartered accountancy profession's broad-based black economic empowerment (BEE) charter by Trade and Industry Minister Rob Davies.
Posted by StaffWriter at 11:25 AM
November 3, 2009
Unions just jealous: Mantashe
Calls to nationalise the personal wealth of BEE tycoons Tokyo Sexwale and Patrice Motsepe were based on jealousy, ANC secretary-general Gwede Mantashe said.
Posted by StaffWriter at 11:22 AM
Exploitation rules in SA, says Vavi
South Africa is the most exploitative country in the world, Cosatu general secretary Zwelinzima Vavi said.
Posted by StaffWriter at 11:17 AM
November 2, 2009
BEE: What needs to be done?
Rethinking BEE: Towards sustainable empowerment - Phillip Dexter COPE MP
Posted by StaffWriter at 10:47 AM
October 30, 2009
'We want the mines'
Nationalising the mines is just the first step for the ANC Youth League. Matuma Letsoalo tackled the league's secretary general, Vuyiswa Tulelo, on the details
Posted by StaffWriter at 8:35 AM
October 26, 2009
Ombud slams lack of transformation
Charles Pillai, the outgoing ombud for financial services providers, on Friday launched a fierce assault on South Africa's financial services industry, saying he had seen serious transformation problems in the sector.
Posted by StaffWriter at 3:05 PM
Benefits of BBBEE business rating
Creates more trade chances
HAVING your business rated on the Broad Based Black Economic Empowerment scorecard creates more opportunities with both the government and private sector.
Posted by StaffWriter at 9:38 AM
October 22, 2009
Benjamin Mkapa launches Business for Development (B4D) Pathfinder in South Africa
His Excellency, Mr Benjamin W. Mkapa, former President of the United Republic of Tanzania will launch the B4D Pathfinder initiative spearheaded by the Southern African Development Community (SADC) Employers' Group and the Southern Africa Trust.Posted by StaffWriter at 9:09 AM
October 20, 2009
SITA claims tender turnaround
The State IT Agency (SITA) has improved its turnaround times for tenders, with each now taking an average of 73.74 days to be awarded, it says.
Posted by StaffWriter at 9:37 AM
October 16, 2009
Atmosphere appoints Etheridge to board
Julie Etheridge has been appointed to the board of Atmosphere Communications after being with the company for four years.
Posted by StaffWriter at 9:54 AM
October 14, 2009
Web Exclusive: Independent News needs to meet state targets
The Independent Newspapers Group has achieved a level five black empowerment contributor rating but acknowledged that more needed to be done to meet the government targets.
Posted by StaffWriter at 1:13 PM
October 13, 2009
BEE forges ahead
After 15 years of democracy, black economic empowerment (BEE) still remains elusive for the majority of black South Africans. This makes a strong case for the rationalisation of BEE in its current form in order to accelerate its intended impact.
Posted by StaffWriter at 11:59 AM
October 9, 2009
BEE remains elusive for most historically disadvantaged South Africans - KPMG
After 15 years of democracy in South Africa, black economic empowerment remains elusive for the majority of black South Africans, professional services firm KPMG restructuring advisory MD Sandile Hlophe said last week, following the release of KPMG's latest national black economic-empowerment (BEE) survey.
Posted by StaffWriter at 10:34 AM
Nafcoc in ugly spat with Nafhold
The National African Federated Chamber of Commerce and Industry has called for its investment arm, Nafhold, to be liquidated and for prosecuting authorities to investigate its directors.
Posted by StaffWriter at 10:31 AM
September 17, 2009
Tougher BEE fines?
Tougher fines should be considered for failure to meet employment equity targets, Minister for Women Children and the Disabled, Noluthando Mayende-Sibiya, said on Wednesday.
Posted by StaffWriter at 11:16 AM
September 16, 2009
SA must focus on 'critical' elements of BEE to speed up implementation - KPMG
The seven elements of the Department of Trade and Industry's (DTI's) Codes of Good Practice on broad-based black economic empowerment (BBBEE) should be rationalised to four, audit, tax, and advisory firm KPMG proposed on Thursday.
Posted by StaffWriter at 9:41 AM
September 13, 2009
Nombini Mehlomakulu for JWT SA board
Nombini Mehlomakulu has been appointed as a non-executive director of JWT South Africa, the ad agency announced on Friday, 11 September 2009. Mehlomakulu is the MD of Mehlomakulu Investment Holdings, a BBBEE company with interests in the telecommunications, mining, media, leisure and hospitality and retail industries.
Posted by StaffWriter at 6:23 AM
September 11, 2009
Benefits of empowerment deals should flow to a broad base of people - corporate adviser
Broad-based black economic empowerment (BBBEE), as opposed to conventional BEE, is a better vehicle to spread wealth among the previously disadvantaged, but it is not the easier route and companies considering BBBEE implementation would do well to ensure they have the capacity and capability to execute the deal properly, corporate advisory firm Barnstone's advisory services director, Deon Crafford, tells Engineering News.
Posted by StaffWriter at 10:33 AM
September 9, 2009
NPA faces staff shortages, low morale
The National Prosecuting Authority (NPA) is struggling to cope due to serious staff shortages, its annual report states.
Posted by StaffWriter at 10:35 AM
September 4, 2009
TAX SUBSIDIES FOR B-BBEE COMPLIANCE
Of the 100 points on the generic B-BBEE scorecard, 20 points can simply - if sometimes dearly - be bought.
The points in question are the 15 points devoted to enterprise development contributions, and the 5 points devoted to socio-economic development contributions.
Posted by StaffWriter at 10:51 AM
September 2, 2009
Calls flood in as SAB opens up BEE hotline
Cape shebeen and tavern owners have inundated the SA Breweries (SAB) hotline this past week to book seats at the group's roadshows, which are aimed at giving more details about its recently announced broad-based black economic empowerment (BBBEE) deal.
Posted by StaffWriter at 11:19 AM
August 30, 2009
All women should be included
Though the Broad-Based BEE Act definitively rules out white women as BEE beneficiaries, the question of whether they should be considered for affirmative action continues to spur debate.
Posted by StaffWriter at 1:22 PM
SABC's turnaround strategy gets bad reception
The SABC's financial woes threaten to sink many small black economic empowerment (BEE) TV production companies.
Posted by StaffWriter at 1:17 PM
August 27, 2009
Reformed - Alexander Forbes SA
Financial, risk and multimanager investment services group Alexander Forbes SA has achieved a level 3 broad-based black economic empowerment (BBBEE) rating in all three of its local business units: Financial Services, Risk & Insurance Services and Investment Solutions. This accomplishment is two years ahead of its internal schedule, with level 3 being targeted for achievement only in 2011.
Posted by StaffWriter at 7:18 AM
August 26, 2009
Arabella defends further development
The Arabella golf estate near Hermanus and the empowerment trust it created for five impoverished Overberg communities have argued that the further development of the luxury estate would not only provide enormous economic and social benefits to the region, but would also be good for the environment.
Posted by StaffWriter at 10:23 AM
August 12, 2009
Services Seta Focuses On Transformation
Services SETA's transformation committee is to compel companies to take-up skills development in order to advance BBBEE objectives
Posted by StaffWriter at 4:18 PM
August 11, 2009
Cargo Carriers Improves BEE Levels
Leading transportation and logistics service provider Cargo Carriers has proved its ongoing commitment to achieving Broad-Based Economic Empowerment (BBBEE) by not only improving its rating from a Level Seven Contributor to BBBEE in 2008 to that of a Level Six Contributor in 2009, but by also achieving the status of a Value-Adding Supplier in this year's audit.
Posted by StaffWriter at 9:52 AM
'Fronting big threat to policy'
BROAD-BASED black economic empowerment (BBBEE) will continue to be relevant "until the economy mirrors the country's demographics and 80% of the productive means of the economy are owned by the previously disadvantaged".
Posted by StaffWriter at 7:14 AM
August 10, 2009
Bytes boosts BBBEE rating to Level 3
FULL STORY
Bytes Document Solutions, the authorised Xerox distributor to 24 African countries, has been rated as a Level 3 Contributor and Value-Adding Supplier by Empowerdex, an accredited verification agency. The rating comes on the back of progress made in many of the areas identified in the DTI's Codes of Good Practice.
Posted by StaffWriter at 7:16 AM
August 7, 2009
Response too: COMPETITION COMMISSION NOT TO REFER COMPLAINT AGAINST the dti & ABVA
It is premature for ABVA to welcome the statement from the Competition Commission as a victory. The matter is in fact going to be referred to the Competition Tribunal by the complainants within the next two weeks. One must keep in mind that ABVA's members have a vested financial interest in monopolising the market for themselves and this is what they are deliberately doing in a manner that does not accord with the law.
Posted by StaffWriter at 1:35 PM
August 6, 2009
Student Village's BBBEE rating earns bonus points for clients...
Student Village, South Africa's premier youth marketing services provider, has upped the ante on its BBBEE status and is now a Level 3 contributor, which is good news for new and existing clients. It is the first time that Student Village has taken up the BBBEE gauntlet and CEO, Ronen Aires, explains that: "We're into empowering our people, it's ingrained in our corporate culture so getting the rating was an affirmation of our culture. We didn't do it just to get more business or to be aligned with the law. We did it because we believe in the principle."
Posted by StaffWriter at 3:11 PM
August 4, 2009
Bytes Document Solutions boosts BBBEE rating to Level 3
Bytes Document Solutions, the authorised Xerox distributor to 24 African countries, has been rated as a Level 3 Contributor and Value-Adding Supplier by Empowerdex, an accredited verification agency. The rating comes on the back of progress made in many of the areas identified in the DTI's Codes of Good Practice.Posted by StaffWriter at 12:31 PM
August 3, 2009
COMPETITION COMMISSION NOT TO REFER COMPLAINT AGAINST the dti & ABVA
ABVA (the Association of BEE Verification
Agencies) welcomes the statement from the Competition Commission in regards to
a complaint issued earlier this year against ABVA and the dti. The Competition
Commission has decided not to refer the complaint lodged by Mr. Ivan van der
Merwe on behalf of BEE Consultants to the Competition Tribunal.
Posted by StaffWriter at 10:40 AM
July 28, 2009
BBBEE progress at KWV
KWV has just received confirmation that its Broad Based Black Economic Empowerment (BBBEE) rating has improved to a Level 5 contributor - one of the highest in the liquor industry. This is good news for a company that has been putting serious effort into transformation and empowerment since its pioneering BBBEE ownership transaction in 2004.
Posted by StaffWriter at 9:44 AM
Empowerment fund invests R50m in SA satellite manufacturer
The National Empowerment Fund (NEF) has invested R50-million in South African satellite systems manufacturer SunSpace and Information Systems (SunSpace), to allow it to increase its capacity and improve its competitiveness in the aerospace market.
Posted by StaffWriter at 9:41 AM
July 27, 2009
NGOs helping world tribunal to uphold human rights in SA mining legislation
JOHANNESBURG (miningweekly.com) - Four non-governmental organisations (NGOs) had joined together in seeking to assist the international arbitration tribunal in interpreting the relevant South African mining legislation in light of the country's constitutional and international human rights obligations, Wits University's Centre for Applied Legal Studies (CALS) said on Monday.
Posted by StaffWriter at 9:53 AM
July 24, 2009
Private sector should strive for 50/50 gender balance - Zuma
Address delivered by the President of the Republic, His Excellency Jacob Zuma, at the report back meeting with black business and black professionals, Sandton Convention Centre, Sandton, Johannesburg, July 23 2009
Posted by StaffWriter at 12:31 PM
SA will wait for jobs increase - Zuma
South Africa will have to wait for an increase in job creation, because of the economic situation, President Jacob Zuma said on Thursday.
Posted by StaffWriter at 12:29 PM
Who Really Has the POWER to Make BEE Work in Namibia for Namibians? - by Pendapala Hangala
NAMIBIA is a country that is blessed with numerous natural resources, beautiful scenery, sound financial institutions, excellent telecommunication and mobile facilities and a world-class road network. Basically I can go on and on about the beauty and advantages of our country. | |||
Posted by StaffWriter at 7:26 AM
Govt must improve BBBE implementation, says Zuma
Johannesburg - Government needs to improve the implementation of Broad-Based Black Economic Empowerment (BBBEE) in South Africa's business sector, says President Jacob Zuma.
Posted by StaffWriter at 7:23 AM
July 22, 2009
Eastern Cape officials' empowerment policy 'not inclusive enough'
MUNICIPAL governments in the Eastern Cape and the Bhisho provincial authorities came under fire yesterday for their broad-based economic empowerment (BBBEE) policies not being inclusive enough.
Posted by StaffWriter at 10:01 AM
July 20, 2009
Retailers rapped for slow BEE deals
Analysts last week attacked the retail industry for dragging its feet on empowerment because they were not under direct pressure from the government as their main customer was the man on the street.
Posted by StaffWriter at 9:52 AM
July 16, 2009
Spar announces proposed broad-based BEE scheme
RETAIL group Spar (SPP) today announced its proposed broad-based black economic empowerment (BBBEE) scheme which would result in certain full-time employees of Spar and its member retailers' employees holding an effective 10% of the total issued share capital of the group.
Posted by StaffWriter at 12:42 PM
July 15, 2009
Informal Cross Border Traders' Association Formed to Raise Voices of Poor Traders in Policy Development in Southern Africa
Informal traders make a major contribution to the growth of economies in southern
Posted by StaffWriter at 11:45 AM
July 10, 2009
WHERE TO FOR BLACK ECONOMIC EMPOWERMENT?
BEE may have to navigate choppy waters as funding shortages and political neglect threaten the participation of blacks in the economy, writes Thebe Mbanga
Posted by StaffWriter at 1:22 PM
WHERE TO FOR BLACK ECONOMIC EMPOWERMENT?
BEE may have to navigate choppy waters as funding shortages and political neglect threaten the participation of blacks in the economy, writes Thebe Mbanga
Posted by StaffWriter at 7:09 AM
July 5, 2009
Human resources face important BEE challenges
Continuing from last week's exploration of the broad-based black economic empowerment (BEE) elements from all points of view, we shall look at the rest of the elements. The element of human resources development is the most critical because it affects the majority of the beneficiaries of broad-based BEE.
Posted by StaffWriter at 2:43 PM
July 1, 2009
Do business with SAB
The South African Breweries (SAB) said on Wednesday that its new SAB Foundation would be aimed at fostering entrepreneurship, with a priority on women and youth.
Posted by StaffWriter at 10:10 AM
June 30, 2009
State undermines BEE objective
WHEN the broad-based black economic empowerment scorecard was introduced it was hailed as a "carrot rather than stick" approach. Non-compliant companies would not be directly penalised but would pay a commercial price because they would be excluded from commercial opportunities.
Posted by StaffWriter at 10:35 AM
Rob Davies' plans for industrial policy
Speech by the minister of trade and industry in his department's budget vote speech, June 30 2009
Posted by StaffWriter at 10:27 AM
June 25, 2009
BREAKING NEWS - ABVA EXTENDS ITS MEMBERSHIP BASE TO BUSINESS
The Association of BEE
Verification Agencies (ABVA) has responded to public demand for the need for increased
communication between the verification industry and its end-users, the companies
who undergo verification. Therefore ABVA is opening up its membership base,
with a special category for companies and public sector organizations.
Posted by StaffWriter at 10:02 AM
June 24, 2009
Sector charters can help to take BEE a step further
Contrary to certain views, sector charters are strategic vehicles through which the government can advance broad-based black economic empowerment (BEE).
Posted by StaffWriter at 8:35 AM
Procurement to focus on broad-based BEE and local products
THE government is set to change rules governing the procurement of goods and services by the state to give more emphasis to black economic empowerment (BEE) and local content when awarding state tenders.
Posted by StaffWriter at 8:16 AM
June 23, 2009
NCCI Wants to Brainstorm on BEE
WINDHOEK - Namibia Chamber of Commerce and Industry (NCCI) wants to brainstorm with its members as well as with Government "on the best response to the global recession" to particularly address the issue of local economic empowerment.
Posted by StaffWriter at 8:37 AM
BEE still seen as aid to business, survey shows
BLACK economic empowerment (BEE) is still regarded as important for winning business across all regions of SA by 63% of privately held businesses, says a report released by Grant Thornton yesterday.
Posted by StaffWriter at 8:34 AM
June 18, 2009
Minister Regulates the issuing of Verification Certificates
On the 08 May 2009 former minister of Trade & Industry Minister Mandisi Mpahlwa published a notice through gazette making the so called self-assessments unacceptable as evidence verifying BEE procurement by Verification Agencies and regulated the issuing of verification certificates.
Posted by StaffWriter at 12:15 PM
Govt tightens BEE verification laws
From the first of August, only organisations approved by the South African National Accreditation System (Sanas) will be allowed to issue BEE verification certificates and self-assessments will no longer be accepted as proof of BEE procurement.
Posted by StaffWriter at 8:19 AM
June 8, 2009
Scarce funding takes Absa BEE ship down - analysts
The Batho Bonke ship was sinking and that might leave Absa with no black economic empowerment (BEE) partner in three months, analysts said at the weekend.
Posted by StaffWriter at 8:12 AM
June 3, 2009
Coega suppliers cautioned to honour BBBEE
SUPPLIERS dealing with the Coega Development Corporation (CDC) will soon need to meet full and verified broad-based black economic empowerment (BBBEE) standards, the organisation announced yesterday.Posted by StaffWriter at 11:49 AM
May 29, 2009
Corrosion protection company focused on skills development
Corrosion protection company Virgo Business Consulting (VBC) reports that the company is focused on skills development, given its new-entrant status in the corrosion painting market.
Posted by StaffWriter at 7:14 AM
May 26, 2009
Novartis to help BEE firms when drug output rises
NOVARTIS would look at developing small local enterprises in the pharmaceutical industry as part of its black economic empowerment (BEE) contribution, but only when drug manufacturing output improved in the country, Glen Sullivan, the chief executive at Novartis South Africa, said yesterday.
Posted by StaffWriter at 8:48 AM
May 25, 2009
The big question for SA firms: how green is my supply chain?
Despite the recessionary environment, South African companies are continuing to make the switch to green procurement - the selection of products and service providers that minimise harm to the environment.
Posted by StaffWriter at 8:43 AM
May 19, 2009
African Parliamentarians set for greater collaboration with civil society
A consultative
dialogue aimed at fostering a closer working relationship between civil society
and the Pan African Parliament (PAP) will be held on Africa Day, 25 May 2009,
at Gallagher Estate in Midrand,
Posted by StaffWriter at 11:32 AM
May 14, 2009
Change needed to benefit the masses
Former World Bank director Mamphela Ramphele says not only the privileged few but the majority of South Africans should benefit from broad-based black economic empowerment.
Posted by StaffWriter at 9:53 AM
May 11, 2009
How can microfinance benefit the poor?
More than 100
million people in southern
Posted by StaffWriter at 11:51 AM
May 8, 2009
Expanded coal asset base expected to yield positive results
Minerals exploration investment and holding company Miranda Minerals expects to yield positive cash flow in the next 6 to 12 months by developing its targeted coal projects. The JSE-listed company has accelerated the development of its coal asset base in KwaZulu-Natal, with opencast mining at its Sesikhona Kliprand colliery scheduled to start production within the next two months.
Posted by StaffWriter at 11:53 AM
May 2, 2009
BEE needs a minister to widen honey pot
WAYS to make broad-based black economic empowerment (BBBEE) work could range from the appointment of a cabinet minister to oversee the process to ensuring that more desperately needed funds became available, a Nelson Mandela Bay business function was told this week.
Posted by StaffWriter at 8:07 AM
April 24, 2009
ABVA Welcomes Decision on Accreditation by Minister of Trade and Industry
ABVA (Association of BEE
Verification Agencies) welcomes the decision by the Minister of Trade and
Industry, Mr Mandisi Mphalwa, that with effect from the 1st of
August 2009:
Posted by StaffWriter at 11:48 AM
April 20, 2009
BEE scorers must be approved by the state
TRADE and Industry Minister Mandisi Mpahlwa has announced that, from August, only certificates issued by accredited black economic empowerment verification agencies will be valid.
Posted by StaffWriter at 7:46 AM
April 17, 2009
Highest BEE rating for firm with no black ownership
A COMPANY with no black ownership or management control has achieved the highest rating under SA's codes of good practice for broad-based black economic empowerment (BEE) simply by meeting other criteria under the empowerment laws.
Posted by StaffWriter at 7:26 AM
Inconsistencies in Mining Charter, BBBEE codes a cause for concern
Broad-based black economic empower-ment (BBBEE) consultancy EconoBEE CEO Keith Levenstein says that there are worrying contradictions between the Mining Charter and the broad-based black economic-empowerment (BBBEE) codes of good practice, noting that different government departments are implementing their own vision of transformation in different ways.
Posted by StaffWriter at 7:23 AM
April 16, 2009
ANC firm on its economic policies but admits errors
The ANC's good economic policies would be entrenched by the new government after the election on April 22 and the SA Communist Party (SACP) would not alter their course, ANC treasurer-general Mathews Phosa said yesterday.
Posted by StaffWriter at 8:10 AM
Mpilende Foods doesn't rely on BEE status for long-term success
Mfundo Thango, the owner of Mpilende Foods, has all the hallmarks of a stereotypical black economic empowerment (BEE) entrepreneur: a flashy 4X4, offices in a posh suburb, government contracts and access to other connected empowerment players.
Posted by StaffWriter at 8:03 AM
ANC used to be more orderly - Trevor Manuel
JOHANNESBURG (Sapa) - The African National Congress used to be "a lot more orderly," Finance Minister Trevor Manuel said on Wednesday evening.
Posted by StaffWriter at 8:01 AM
April 15, 2009
ABVA Comments on FM Top Empowered Companies Index
Posted by StaffWriter at 3:44 PM
April 13, 2009
BEE imperative if correctly designed - DA
Black Economic Empowerment (BEE) is an economic and moral imperative for South Africa if correctly designed, the Democratic Alliance said on Monday.
Posted by StaffWriter at 7:23 AM
April 12, 2009
Survey shows improvement in BEE compliance this year
Only 100 out of nearly 400 listed firms scored above 30 percent. Using the Department of Trade and Industry's scoring matrix, the other 300 would be non-compliant contributors.
Posted by StaffWriter at 7:18 AM
April 10, 2009
BEE investment in mining set for uncertain future
Doomsday predictions have been promulgated for the future of black economic empowerment (BEE) in the South African mining sector. This has been prompted by the global financial crisis, characterised by falling share prices and a drop in commodity values, that has left the mining industry particularly vulnerable.
Posted by StaffWriter at 7:09 AM
April 9, 2009
Daikin Creates New Efficiency
DAIKIN Air Conditioning South Africa has been awarded with Black Economic Empowerment (BEE) accreditation after just ten years of servicing the South African market.
Posted by StaffWriter at 8:09 AM
April 8, 2009
BEE groups land water contracts
Some 13 black economic empowerment companies have signed learnership contracts with Joburg Water to repair and replace pipes.
Posted by StaffWriter at 1:21 PM
April 7, 2009
Yet another award for Joburg Water
The latest award for Joburg Water is a Metropolitan Oliver Empowerment Award for its work in black economic empowerment.
Posted by StaffWriter at 12:05 PM
BEE Advisory Council likely to launch next month
The long-awaited Black Economic Empowerment (BEE) Advisory Council could be launched soon after the new government took office next month, an official said on Friday.
Posted by StaffWriter at 12:04 PM
April 5, 2009
Cultivating fertile grounds for BEE gains in rural SA
Are the benefits of broad-based black economic empowerment (BBBEE) trickling to the rural areas? How can the economies of these areas be stimulated? Maybe before answering these questions an analysis of the situation in the rural areas can be examined.
Posted by StaffWriter at 6:53 AM
April 4, 2009
It's time for workers to reap the benefits
I believe the enactment of the Broad-Based Black Economic Empowerment Act of 2003 (the BBBEE Act) should rank among the best achievements of the ANC government to date.
Posted by StaffWriter at 6:49 AM
April 3, 2009
Colour-coded lease riches
Black economic empowerment (BEE) landlords appear to be feasting on an unofficial government property leasing practice that favours them. But the unwritten policy of the department of public works is open to abuse.
Posted by StaffWriter at 10:22 AM
April 2, 2009
Adcorp aces poll
For the second year in a row, Adcorp has been named South Africa's most empowered company in the annual Financial Mail's Top Empowerment Companies (TEC) survey.
Posted by StaffWriter at 12:26 PM
Political shifts threaten BEE
BEE has crossed the floor. Consider the evidence: the key symbols of the state's empowerment drive have quit the ANC to join the Congress of the People (Cope).
Posted by StaffWriter at 8:18 AM
April 1, 2009
Credit crisis affects funds for BEE deals
MERGERS and acquisitions (M&A) practitioners have expressed concern about the future of empowerment deals, saying there may not be capital for funding these transactions in the future.
Posted by StaffWriter at 12:26 PM
March 31, 2009
Value of M&A deals fell by 39% last year, survey shows
The value of merger and acquisition (M&A) deals in South Africa dropped by 39% in 2008, on the back of a declining economy and plummeting world-wide M&A activity, audit and business advisory firm Ernst & Young (E&Y) reported on Tuesday.
Posted by StaffWriter at 12:22 PM
Casinos Commit To BEE
The members of the Casino Association of South Africa (CASA), which include all but two of the licensed casino operators in the country and who together represent some R194-billion in annual turnover, have confirmed their target of a BEE Level 4 rating by 2010.
Posted by StaffWriter at 7:18 AM
March 30, 2009
BEE still booming
Empowerment deals are powering ahead with private companies
Posted by StaffWriter at 9:17 AM
BEE blacks used as front
An electrical company is being investigated on allegations that it appointed two staff members as "BEE" directors so it could get fat contracts at OR Tambo International Airport, but used the pair as a front and syphoned off the money.
Posted by StaffWriter at 9:14 AM
The Malema guide to BEE
This is an edited version of a speech given by ANC YL President Julius Malema at the Young Professionals Session at the Polokwane International Airport.
Posted by StaffWriter at 9:08 AM
March 29, 2009
Telkom hit by another tender row
BEE firm says rules flouted in outsource deal, writes Buddy Naidu.
Posted by StaffWriter at 7:17 AM
Life in the fast lane
Cyril Ramaphosa talks about the future of BEE, of which he is an architect, his political aspirations and his unequivocal support for Jacob Zuma. Marcia Klein reports.
Posted by StaffWriter at 7:11 AM
March 28, 2009
BEE is not a free lunch
Senzo Masengemu writes that black investors need to add values to their companies
BEE should be aligned to the company broader strategy
It makes no business and transformational sense to conclude a BEE deal just for the sake of compliance and it's not in anyone's best interest.
Posted by StaffWriter at 7:14 AM
March 27, 2009
Market watcher: Hassan Motala: Oasis Asset Management
GEOFF CANDY: Hello, good evening and welcome to the SAfm Market Update with Moneyweb. I'm Geoff Candy. Alec Hogg's not here today, but he'll be back again on Monday.
Posted by StaffWriter at 7:09 AM
Zuma firm on affirmative action and BEE
ANC President Jacob Zuma has stuck to his guns on affirmative action amid calls from certain quarters that the policy be scrapped because it is having a negative impact on skills.
Posted by StaffWriter at 7:06 AM
March 26, 2009
Collyer Lessick achieves BBBEE rating
Collyer Lessick & Associates has achieved a BBBEE rating of Level 2 Contributor after a BEE audit conducted by the National Empowerment Rating Agency of South Africa.
Posted by StaffWriter at 12:18 PM
March 25, 2009
BEE policy here to stay, says Zuma
ANC President Jacob Zuma vowed on Tuesday night that the new administration after the April 22 elections would continue to vigorously implement affirmative action and broad-based black economic empowerment policies as they had not yet achieved the objectives they had been created for.
Posted by StaffWriter at 10:20 AM
Phosa puts foot down on bailouts for business
Firms in the private sector that are struggling due to the economic slowdown should not be bailed out by the government, according to ANC treasurer-general Matthews Phosa.
Posted by StaffWriter at 7:36 AM
BEE for the ladies - part I
Summit TV speaks to Cyril Ramaphosa from Shanduka about their BEE deal that's going to benefit previously disadvantaged women
Posted by StaffWriter at 7:29 AM
March 24, 2009
Massive tax relief for BEE employee shares
The value of BEE employee shares that may be acquired by an employee on a tax free basis has been increased.
Posted by StaffWriter at 8:11 AM
March 23, 2009
Gautrain beats its jobs targets
Tens of thousands of people have landed work through the construction of the Gautrain, and hundreds of companies have benefited through outsourcing contracts.
Posted by StaffWriter at 12:06 PM
Billions switched in line with BEE
THE Public Investment Corporation (PIC) is to switch billions of rands in government pension funds to black money managers on April 1, in an effort to support them.
Posted by StaffWriter at 7:32 AM
March 20, 2009
Economic crisis could yield more entrepreneurs
In spite of the current economic turmoil, a possible 'silver lining' for small business development may exist in that corporate downsizing and factory layoffs could yield more potential entrepreneurs, says entrepreneurial developer ChemCity business development manager Herman Berry. This could lead to a greater interest in and need for entrepreneur support programmes, such as those provided by small business and entrepreneurial investors.
Posted by StaffWriter at 8:41 AM
PIC's new billion rand fund managers
Find out where the billions Old Mutual and FirstRand lost from the PIC are going...
Posted by StaffWriter at 7:28 AM
March 18, 2009
Ndebele slams BEE
KwaZulu-Natal premier Sbu Ndebele has expressed concern at the implementation of black economic empowerment in areas outside of Durban and Pietermaritzburg.
Posted by StaffWriter at 8:11 AM
Brown is not the right colour, say BEE champs
Four black candidates who interviewed for the position of Nedbank Group chief executive were not as good as Mike Brown, who had been appointed to succeed Tom Boardman, Reuel Khoza, the chairman of South Africa's fourth-biggest bank, said yesterday.
Posted by StaffWriter at 8:04 AM
March 17, 2009
BEE agencies get green light
Summit TV speaks to Andile Tlhoaele from the Association of BEE Verification Agencies (Abva) about the progress that's being made in getting their members accredited
Posted by StaffWriter at 8:08 AM
Gautrain boosting job market
JOHANNESBURG - Since the beginning of Gautrain construction 11 700 direct jobs had been created and a further 51 500 direct, indirect and induced jobs due to the increased economic activity.
Posted by StaffWriter at 7:56 AM
Gautrain project to create 148 000 jobs in next 20 years
South Africa's R25-million Gautrain rapid-rail link project is expected to create about 148 000 direct, indirect and induced jobs in the next twenty years.
Posted by StaffWriter at 7:53 AM
No easy ride for BEE mine deals -- report
THE second wave of black empowerment deals in the mining sector would be considerably more difficult to negotiate than the first, Ernst & Young partner Lance Tomlinson said yesterday.
Posted by StaffWriter at 7:27 AM
Tsogo Sun deal puts Gold Reef BEE at risk
Gold Reef Resorts was concerned its black economic empowerment (BEE) status might have been compromised because Tsogo Sun bought a 23 percent stake from "various black BEE shareholders and on the market", chief executive Steven Joffe said yesterday.
Posted by StaffWriter at 7:24 AM
March 16, 2009
R6bn St Patrick's Day gold bonanza for vilified Mvela
JOHANNESBURG (miningweekly.com) - Vilified black economically empowered (BEE) mining company Mvelaphanda Resources on Monday received a R6-billion St Patrick's Day gold bonanza when it cleared the way for the taking on board 50-million high-flying Gold Fields shares and simultaneously paid off debt.
Posted by StaffWriter at 7:21 AM
Second mandatory BEE wave may be harder than first - Ernst & Young
JOHANNESBURG - The second mandatory portion of black economic empowerment (BEE) in mining was poised to be more difficult than the first, which was currently being severely stress tested, Ernest & Young director Lance Tomlinson said on Monday.
Posted by StaffWriter at 7:18 AM
March 15, 2009
Empowerment vital to economy and for redress
Opportunistic to call for reversal of BEE, writes Bongani Aug Khumalo.
Posted by StaffWriter at 7:13 AM
March 13, 2009
BEE deals may have to be renegotiated
MANY of the black economic empowerment (BEE) deals struck in recent years after painstaking negotiations may have to be renegotiated -- a blow to the Department of Trade and Industry's goal for an unprecedented 25% of the economy to be in black hands by 2017, according to analysts.
Posted by StaffWriter at 7:49 AM
March 11, 2009
We can do BEE better: Zuma
South Africa needs to review the way in which black economic empowerment (BEE) is put into effect, says African National Congress (ANC) president Jacob Zuma.
Posted by StaffWriter at 7:12 AM
March 10, 2009
Debt-heavy BEE companies face a financial 'perfect storm'
OUR financial system may be unburdened by the toxic assets that have plagued the balance sheets of American, European and some Asian institutions but we have not escaped the effects of the global liquidity crisis and the resultant collapse in asset prices.
Posted by StaffWriter at 8:08 AM
March 6, 2009
Empowerment tax benefits: Q and A
Is there any concession on the tax payable on the capital gain that will be made by a shareholder in a private company selling its/their shares in a black women's empowerment deal?
Posted by StaffWriter at 1:11 PM
Didata attains level 3 BBBEE status
Dimension Data has attained level 3 broad-based BEE contributor status in an evaluation undertaken by Honeycomb BEE rating.
Posted by StaffWriter at 8:11 AM
Laws put obstacles in the way of BEE - Richards
NATIONAL legislation created "significant obstacles" in the path of the Nelson Mandela Bay municipality's reaching its targets in terms of tenders awarded to advance broad- based economic empowerment, municipal manager Graham Richards said yesterday.
Posted by StaffWriter at 7:15 AM
March 5, 2009
ANC feels BEE heat
A number of opposition parties hammered the ANC on the results of affirmative action (AA) policies in their current format at a business function in Sandton on Wednesday.
Posted by StaffWriter at 9:03 AM
March 3, 2009
Change in mindset required to deracialise our economy
The Black Management Forum (BMF) developed the affirmative action blueprint in 1992, which was instrumental in guiding the country's transformation journey.
Posted by StaffWriter at 8:15 AM
February 28, 2009
Lekota: BEE policies cause reverse racism
COPE leader Mosiuoa Lekota has accused the government of applying BEE and affirmative-action policies in such a way it results in reverse racism that equates to old-style apartheid policies.
Posted by StaffWriter at 7:18 AM
February 27, 2009
IDC loan sharing
The Industrial Development Corp (IDC) is trying to help save companies affected by the global downturn. Carol Paton asks CEO Geoff Qhena how
Posted by StaffWriter at 1:08 PM
Ensure BEE benchmarks are respected - and kept
Real Black Economic Empowerment (BEE) remains elusive for many companies operating in the communications space - including branding and design, and advertising industries - despite its role in addressing the critical social and economic challenges that South Africa is facing.
Posted by StaffWriter at 1:06 PM
Is Cope bashing BEE?
Although new party on the block Congress of the People (Cope) is quick to say that African National Congress-inspired black economic empowerment (BEE) policy should be reviewed, party spokesperson Philip Dexter is less quick to say how exactly.
Posted by StaffWriter at 7:21 AM
February 26, 2009
Cope makes U-turn on its BEE position
Transformation must be national project, says Cope convenor
Posted by StaffWriter at 8:22 AM
February 25, 2009
Empowerment zone to target SMMEs
Small business in Soweto that show a keenness to succeed will be able to join the Soweto Empowerment Zone, which will help to change the face of the area from a dormitory township into an economic powerhouse.
Posted by StaffWriter at 9:43 AM
Co-operatives grab state's attention
The government was considering several options including preferential tendering and a favourable tax regime to encourage the formalisation of co-operatives, according to Tshediso Matona, the director-general of the department of trade and industry.
Posted by StaffWriter at 8:13 AM
Top contenders: 2008
Aquarius and Impala:
Aquarius bought back 20 percent of its shares held by Impala for $780 million (R7.9 billion) when the world economy was operating at near-full capacity. Since then, however, the financial crisis has struck many industries. As 30 percent of all platinum produced is used by the automotive industry in catalytic converters, this has hit the mining firms. The benefits of this deal are unlikely to be seen for some years.
Posted by StaffWriter at 8:09 AM
February 24, 2009
SABC failing the coloured market?
The South African Movement for Equality (SAME) has taken the SABC to task, claiming there is a lack of representation for coloured people in its broadcasting. by Nazley Omar
Posted by StaffWriter at 2:04 PM
Grindrod's R247m BEE deal to boost education
The Adopt-A-Schools Foundation, which aims to improve education infrastructure in rural areas in South Africa, has been named a key beneficiary in Grindrod's R247 million Broad Based Black Economic Empowerment deal.
Posted by StaffWriter at 8:04 AM
February 23, 2009
Grindrod inks sizable BEE deal
Johannesburg - Grindrod has concluded a R274 million broad based black economic empowerment (BBBEE) transaction, the JSE listed shipping and logistics business said on Monday.
Posted by StaffWriter at 7:05 AM
Grindrod announces R274-million BEE deal
Grindrod has concluded a R274-million broad-based black economic empowerment (BEE) transaction, the JSE-listed shipping and logistics business said on Monday.
Posted by StaffWriter at 7:03 AM
February 22, 2009
Transformation of mining sector suffers setbacks
It has been a sad week for black economic empowerment (BEE) in the mining industry. The announcement by Central Rand Gold (CRG) that it had kicked out its empowerment partners was followed by news that Mvelaphanda Resources could disappear within a year.
Posted by StaffWriter at 7:54 AM
February 20, 2009
Steel structure maintenance to provide corrosion-paint underpin
Black economic-empowerment (BEE) company Virgo Business Consulting says that the corrosion painting market will continue to be viable into the future as a result of the ongoing requirements for steel structure maintenance for mines and para- statals.
Posted by StaffWriter at 7:05 AM
February 19, 2009
Is employment equity doing more harm than good?
Discrimination in the workplace in some or other form has plagued South Africa since the early settlers inhabited the Cape in the 1600s.
Posted by StaffWriter at 12:30 PM
Cope to focus on BBBEE action
COPE will do all in its power to support the effective implementation of broad-based black economic empowerment (BBBEE) and affirmative action when it comes to power.
Posted by StaffWriter at 7:02 AM
February 17, 2009
Empowerment fund hits R1bn milestone
IT HAS been said that life isn't a matter of milestones, but of moments. But the National Empowerment Fund cannot be faulted for celebrating reaching the R1-billion mark in its pursuit of "the empowerment dividend".
Posted by StaffWriter at 3:02 PM
February 16, 2009
First BEE accredited agencies named
THE South African National Accreditation System (Sanas ) has named the first set of accredited black economic empowerment (BEE) verification agencies after a decision to accredit them was taken two years ago.
Posted by StaffWriter at 7:55 AM
February 15, 2009
Mathews Phosa on a new approach to empowerment
Text of the Griffith and Victoria Mxenge Memorial Lecture by the ANC Treasurer General February 13 2009
Posted by StaffWriter at 7:53 AM
February 13, 2009
CAF Southern Africa Comments on the 2009/10
Consensus emerging from business and government sectors a day after what is probably Trevor Manuel's swansong budget is that the budget is as good as it can be, given the overarching global economic crisis.
Posted by StaffWriter at 10:13 AM
Verification agencies will finally BEE legit
SOUTH African companies can now feel more secure that their black economic empowerment scorecards are verified by accredited bodies.
Posted by StaffWriter at 7:19 AM
February 12, 2009
Empowerment fund finances R38m BEE acquisition
A GAUTENG consortium has bought 50% of construction and advertising company Set Squared.
Posted by StaffWriter at 7:34 AM
BEE: Where is thy sting in 2009?
As the year unfolds, both BEE and employment equity are the most contested terrains. Mmanaledi Mataboge took a snap-shot of where political parties stand on two vital and provocative policies
Posted by StaffWriter at 7:31 AM
February 11, 2009
SA govt must save mine empowerment
[miningmx.com] -- On Tuesday the SA banking industry drew a line in the sand for black economic empowerment (BEE) in the mining industry because BEE has been financed with debt that the banks could no longer support.
Posted by StaffWriter at 9:44 AM
Bankrupt BEE groups may need bailout
South Africa may need to bail out black economic empowerment (BEE) groups suffering the effects of plunges in metal prices, Cliff Zephyrine of Absa Capital said yesterday.
Posted by StaffWriter at 9:42 AM
February 10, 2009
Accreditation of Verification Agencies
The Association of BEE Verification Agencies (ABVA) welcomes the announcement on