In our last month’s edition we provided a summary of some of the salient features of the Revised Broad-Based Black Economic Empowerment Codes of Good Practice (“Codes”). We mentioned that the elements have now been reduced from seven to five. In this month’s edition we look at one of these five element: Ownership.
Together with Enterprise and Supplier Development and Skills Development, the Ownership element is one of the Priority elements. Large Enterprises have to comply with the minimum threshold for all three Priority Elements and Qualifying Small Enterprise (“QSEs”) are required to comply with only two of the three Priority elements, one of which must be Ownership.
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