BEE News.co.za

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.

]]> Despite South Africa's rich mineral resources, which financial services provider Citigroup in 2010 estimated at just under $2.5-trillion, the mining sector is currently in recession, having contracted during the first three quarters of 2011.

Softline Pastel's new portal makes BEE compliance easy

Softline Pastel's one-stop Black Economic Empowerment (BEE) portal, BEE 123, was recently launched.

]]> It offers a range of tools, software, directories, news and BEE network partners to assist businesses of all sizes to understand and implement their BEE requirements.

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.

]]> The results of the annual survey show an increase of the BBBEE contributor status from an average of level eight to four in the period between 2006 and 2011.

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.

]]> The company says the BBBEE ratings for business entities, comprising of exempted micro enterprises, qualifying small enterprises, unlisted and listed companies, along with multinational corporations averaged 66.92 points out of a total of 100 for the year 2011. This is higher than the 55.03 points recorded in 2010.

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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.

]]> Now in their fifth year, the awards profile and recognise transformation and innovative, home-grown solutions around broad-based BEE in KwaZulu-Natal.

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.

]]> Changes to the BBBEE Act were presented by trade & industry minister Rob Davies in the form of an amendment bill last month and come after growing concerns from business about the increasing incidence of abuse .

Back to fronting

Unless you're a big empowerment partner like Shanduka or Mvelaphanda and can afford legal and financial advisers ...

]]> the chances of the empowerment partner being exploited are very high, says Lerato Ratsoma, managing director of verification agency Empowerdex.

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.
]]>

"While all are concrete steps to remodel our growth opportunities, I especially concur with those who advocate for creation of jobs to grow our economies particularly in Africa. Our sustainability and independence relies on workforce solutions that integrate Small and Medium Enterprises (SMEs) development and support by larger businesses" says Paul Malherbe, CEO & Managing Director for African Management Services Company (AMSCO).

He added that a full package of workforce solutions should also be considered as the existing workforce needs to be groomed to run globally competitive businesses that are sustainable. Africa has seen increased financial capital flows to the continent, but yet human capital, that is needed to unleash economic development, has not attracted the same level of attention.

"AMSCO, and the ATMS Project, are about human capital development in enterprises for the growth of our continent. We have placed over 900 expert managers on enterprises in 29 countries in sub-Saharan Africa and the development impact has been phenomenal while profits remained high. The secret behind it was threefold; job creation, capacity building and robust succession planning for in-country managers" Malherbe continued.

Wealth creation by the private sector and commercially operated state enterprises working the Government and Civil Society is crucial for Africa's home grown solutions to the economy.

AMSCO is a special purpose company established by the UNDP in 1989 to rollout the African Training and Management Services (ATMS) Project in order to assist African enterprises to become globally competitive, profitable and sustainable. The International Finance Corporation (IFC) is the Executing Agency and the African Development Bank is the Regional Coordinating Agency for the Project.

For more information contact

Mpho Kgosidintsi

Marketing and Communications Manager

African Management Services Company (AMSCO)

A Project of the UNDP

Tel: +27 (0)11 219 5000

Direct: +27 (0)11 219 5051

Mobile: +27 (0)79 871 3696

Fax: +27 (0)11 268 0088

Email: mpho.kgosidintsi@amscobv.com

Web: www.amsco.org

Facebook: www.facebook.com/amscobv

Twitter: www.twitter.com/amscobv

Physical: 4 Fricker Road, Illovo Boulevard, Illovo, 2196

Postal: PO Box 41706, Craighall, 2024, Johannesburg, RSA

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.

]]> The Department of Trade and Industry (DTI) states that the proposed changes to the Broad-Based Black Economic Empowerment (BBBEE) Amendment Bill are aimed at making this the overarching legislation on BBBEE matters.

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.

]]> The Company's actions in support of achieving a stronger Black Economic Empowerment standing are consistent with similar initiatives pursued by other leading South African companies across multiple industries.

PFK wins sustainability award

PFK Electronics recently won the 2011 Technology Top 100 Award for Sustainability.

]]> This award evaluates an entire organisation and its management as to its overall contribution within its chosen marketplace, and to South African society as a whole.

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.

]]> The company estimates that these facilities will have a total capacity to produce products to accompany 500 MW of solar photovoltaic (PV) generation.

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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.

]]> Search Specifics is 100% black and female-owned, having built its reputation on approaching the executive search and recruitment process professionally in addition to offering a high level of service.

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.

]]> Pommie Lutchman, CEO at Ocular Technologies, says that for Ocular, BBBEE is about more than just boasting rights; it is about true empowerment and reversing inequalities of the past.

SA's best employers

Highlighting trends in the quest to attract the best talent in the job market

]]> Now more than ever, the need for employers to attract the best talent and present their companies as an ideal career development environment has become a critical part of any business development strategy.