Category: Black Economic Empowerment (B-BBEE)

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Financial Sector Codes and Construction Sector Codes – Our comments

The dti minister, Dr Rob Davies has today (1 December 2017) gazetted the Financial Sector Codes (FSC) and the Construction Sector Codes. The FSC in particular has been long awaited. Until now the financial sector had been using the original financial sector codes which gave all in the FSC an...

cliffcentral

The Real State of B-BBEE: Part 1 – 360 Biz

In October this year, the BEE commission planned to issue about 50 preliminary and final findings against companies for contraventions of the B-BBEE act. What are these contraventions? One of them is fronting. A major form of non-compliance is fronting, or the introduction of spurious schemes that purport to introduce...

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Are BEE Share Schemes Creating Shareholder Value? Listen to our Chairman, Keith Levenstein, discussing the types of BEE share schemes, their benefits and pitfalls.

Need a BEE Verification? We can assist you! View our managed services here. Click here to gather an enormous amount of free information from our website Interview on SAFM with EconoServ chairman Keith Levenstein   NASTASSIA ARENDSE:  We are looking at BEE share schemes. What prompted this idea was the Sasol Inzalo unbundling...

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BEE Commission to Face its Biggest Challenge and Set Precedent

The BEE Commission is about to set a precedent which will decide the validity of what, to date, have been questionable BEE transactions.  The BEE Act states that the BEE Commission must maintain a registry of major transactions. Regulations issued in 2017 defined a major transaction as a deal worth...

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JSE-listed companies will be required to submit their BEE Compliance Report to the BEE Commission by 1 June 2018. Read more about what is required.

By Lianne Friedman, CEO of EconoServ   An amendment to the JSE listing requirements will require companies to provide the BEE Commission with a copy of their compliance report. The first disclosure period is scheduled for 1 June 2018. The JSE says that the aim of the amendment is to...

bee ownership

How to sell part or all of your business for profit. How do the new codes affect ownership. Are you ‘giving away’ your business? Not if you plan property.

Ownership on the new codes has made the scorecard increasingly more difficult and companies have no choice but to explore their options. It accounts for nearly one quarter of all BEE points and a critical tool to ensure full compliance with other policies. We realise that making a decision to...

Lianne Friedman

We Are Years Ahead Of The Pack

5 years ago we started being concerned about some educational trusts, employee trusts and broad based schemes. Not because we talk on behalf of govt or anyone else, but because we saw the huge risk of our clients earning zero points for doing lots of work, and wasting money when...

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Compliance Stress

Last week the BBBEE Commission announced that it would be investigating 17 companies for possible fronting. We have compiled a detailed analysis and have a link to the list of the company names – more info… Compliance Stress There are many stress factors in the work place. There are deadlines...

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B-BBEE Commission is getting serious about fronting

Following on from our previous newsletter where we criticized the B-BBEE Commission for not taking sufficient action against the scourge of fronting, the Commission has now issued a media statement naming 17 companies that are currently being investigated for possible fronting practices and non-compliance with the B-BBEE Act. The media...

mining charter

Mining Charter 2017 – Why did the Dept of Mineral Resources add potentially contentious clauses? Read about the “trumping” clause.

I like to understand why someone takes a particular action. In this case “Why did the dept of mineral resources take the step of writing and put in some very contentious clauses in the new charter?”. Many simple minded people will state that it was written “by the Guptas for...

Practice Guide 01 Of 2016 The Recognition Of Third Party Procurement Spend

Download The Broad-Based Black Economic Empowerment Practice Guide here: [signinlocker id=”2544″] 1. The Recognition Of Third Party Procurement Spend 2. Broad-Based Black Economic Empowerment Certificates With Regard To Exempted Micro Enterprises And Qualifying Small Enterprises 3. Procedure For Requesting A Non-Binding Advisory Opinion [/signinlocker]

money-

Science proves money can buy happiness

Recent research by the Harvard Business School has proven that you can buy happiness if you spend money to save time. People who spend money to save time on items like housekeeping, delivery services and taxis are generally much happier than those who don’t. Likewise in business, you’re much happier...

B-BBEE Commission Disappoints

The business landscape has changed. Now more than ever external experts are needed to help business achieve the best possible results. Contact one of our consultants to see how we can assist your business achieve great results. B-BBEE Commission Disappoints We had hopes that the B-BBEE Commission (BEE Commission) would...

labour law presentation

Your EME/QSE Certificate may not be acceptable?

Need a BEE Verification? We can assist you! View our managed services here. Click here to gather an enormous amount of free information from our website The business landscape has changed. Now more than ever external experts are needed to help a business achieve the best possible results. Contact one of our consultants...