Tag ArchivesBBBEE

BBBEE Fronting Practices – Recent Clarification

According to the Department of Trade and Industry (“DTI”), fronting means a deliberate circumvention or attempted circumvention of the Broad-Based Black Economic Empowerment Amendment Act No. 46 of 2013, as amended, (the “Act”) and the Codes. The Act introduced the definition of “fronting”, a concept which had previously been based on the common law criminal concept of […]

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Rapport: Interview with Nicolene Schoeman-Louw – Duvha bekyk oor Chinese

Nicolene Schoeman-Louw was interviewed in the Rapport Newspaper, published on 13 August 2017. The piece is about B-B BEE trusts and how to construct them in line with the legislation. It also deals with the consequences where this is not done. <read more>

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News Flash: BBBEE Employee Share Schemes – true empowerment or not?

Since the recent amendment of the Broad Based Black Economic Empowerment Act 53 of 2003 and its regulations, i.e. the Codes of Good Practice, (jointly referred to as the “BBBEE Act” or the “Act”), whereby complying with the ownership requirement of the BBBEE scorecard, employee share schemes have become more popular than ever. Despite this, […]

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Understanding “Skills Development” for BBBEE purposes

Understanding Skills Development is no longer only a nice-to-have, it is a necessity for all companies.  Skills Development has always been regarded as an important pillar for economic success and stability, however, with practical issues, like a lack of access to funding, facing South Africa, other avenues had to be explored to upskill and bridge […]

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preferential procurement

New Preferential Procurement Regulations to take into consideration

Imminent changes are looming and will become effective on 1 April 2017. These will affect organisations doing or wishing to do business with organs of state. This as a result of the new Preferential Procurement Regulations issued on 20 January 2017, in terms of the Preferential Procurement Policy Framework Act No 5 of 2000 as […]

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