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July 6, 2011
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.
The "sophisticated practice" could no longer be tolerated in South Africa as it was a significant constraint to "true economic transformation", he told Engineering News Online.
Posted by StaffWriter at July 6, 2011 10:38 AM