It’s a Bird, it’s a Plane… No it’s a BBBEE Share Scheme

news_265_690_BBBEE_Compliance1As the title implies the average person would see a BBBEE share scheme as a miracle. In reality, it is not, like all share schemes it is aimed at purely distributing the wealth of the company amongst the employees. Yet BBBEE schemes are to do more with the National Government’s initiative to drive greater participation in and ownership of companies by the ‘previously disadvantaged’ person of South Africa.

Yet setting one up can have dire consequences for any company, especially if this could lead to major tax consequences for both the company and the employees at large. Thus what benefit does the company and conversely the employees gain from this transaction? For the employer, an increase in its BEE scorecard, allowing it to participate in government contracts and tenders. The employees will gain the right to share in the dividends of the company and have a say in the management of the company. It can be seen as a ‘win’ ‘win’ for both parties. However, it must be understood to benefit the employees and not just be for the benefit of the company.

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