Hundred and Forty-Eight (148) Major B-BBEE Transactions Submitted to the B-BBEE Commission

As at 25 August 2017, the Broad-Based Black Economic Empowerment (B-BBEE) Commission has received hundred and forty eight (148) major B-BBEE transactions in line with the requirement of the B-BBEE Act, and is currently in the process of assessing them for compliance with the B-BBEE Act. The B-BBEE Commission has ninety (90) days to consider…

B-BBEE Commission Initiates Investigations into Possible Fronting Practices and Non-Compliance with B-BBEE ACT

The Broad-Based Black Economic Empowerment (B-BBEE) Commission has initiated investigations against specific entities for possible violation of the B-BBEE Act relating to the B-BBEE ownership structures and non-compliance with the Codes of Good Practice in respect of the verification process. All entities were notified, and if there are adverse findings against them, they will be…

B-BBEE Commission Welcomes The Threshold To Register Major B-BBEE Transactions and Lists Documents Needed

The Broad-Based Black Economic Empowerment Commission (“B-BBEE Commission”) welcomes the threshold of R25 million transaction value for major B-BBEE transactions to qualify for registration with the B-BBEE Commission as issued by the Minister of Trade and Industry on 09 June 2017 in the Government Gazette. So, from 09 June 2017 all major B-BBEE transactions must…

B-BBEE Commission Should Take Action Against Non-Compliant Companies – Minister Davies

The Minister of Trade and Industry, Dr Rob Davies says the Broad-Based Economic Empowerment (B-BBEE) Commission should take action against companies that are found to not be complying with the B-BBEE requirements for transformation. Minister Davies was speaking at the breakfast session held by the B-BBEE Commission on the national state of transformation, in Midrand,…

B-BBEE Community Participation is Crucial in Township and Rural Areas

The Director responsible for Compliance at the Broad-Based Black Economic Empowerment (B-BBEE) Commission, Ms Busisiwe Ngwenya says B-BBEE community education and participation is very key and crucial for those who are still establishing themselves as business people. Ngwenya was speaking at an information session hosted in Esikhawini, Kwazulu-Natal, today. The information session was intended to…

ABP called to retract misleading statement regarding its Accreditation as an Economic Empowerment Professional

The B-BBEE Commission has instructed the Association of B-BBEE Professionals (ABP) to publicly retract the statement it issued suggesting that it is a regulatory body for verification professionals in South Africa, which is misleading and untrue. The statement was carried in various media published on 13 September 2016. The Minister of Trade and Industry, Dr…

Accelerating the Work of the B-BBEE Commission is of Imperative Priority

The Acting Commissioner of the Broad-Based Black Economic Empowerment (B-BBEE) Commission, Ms Zodwa Ntuli says that an effective Commission is important for the pace of transformation of our economy to be accelerated to achieve the objectives of the B-BBEE Act. Ms Ntuli was speaking at a business engagement session that took place in Johannesburg where…

Fronting Contributes to Slow Economic Transformation – Deputy Minister Masina

The Deputy Minister of Trade and Industry, Mr Mzwandile Masina says one of the factors contributing to the slow pace of economic transformation is fronting. Masina was speaking at the Broad–Based Black Economic Empowerment (B-BBEE) conference on fronting practices held in Midrand today. The conference was meant to provide the overview of the Broad–Based Black…