EMEX Leaves ABVA

Original publish date – Thu, 25 Feb 2010 12:14:50 +0000, Keith

EMEX Trust has announced that they have terminated their membership of ABVA. In their announcement, they stated that “ABVA recently amended its constitution to enable the chairman to make certain policy decisions. One of the initiatives is aimed at setting an interpretation standard for the industry. The DTI is the only entity that can prescribe rules on how to interpret the Codes of Good Practice and Emex Trust cannot be part of a voluntary association that follows interpretations which were not gazetted by the DTI.”

Keith Levenstein, CEO of BEE consultants, EconoBEE said: “For years we been complaining that ABVA has arbitrarily setting up rules and policies aimed at protecting its own interests. We even raised a complaint to the Competition Commission over one of the issues, and the Competition Commission received an undertaking from ABVA that they would not condone further actions of the sort we complained about. However ABVA have continued to set rules at the expense of transformation. Ironically their current chairman Andile Tlhoaele’s own company has not yet received accreditation as a verification agency.

ABVA has never had the authority or power to set up rules and interpretations, yet have continued to do so.
This move by EMEX reinforces our call last month for the minister to set up an ombudsman/arbitrator/adjudicator to help with interpretations on the BEE codes. It is becoming more urgent that the dti address the issue of interpretations and issue updated gazettes or directives, just like the dept of Treasury does for tax issues. It is not feasible, or in the interests of transformation for a anyone to ask the high court to rule on every outstanding issue. The dti si simply not doing their job, and effectively sabotaging B-BBEE as a result.

 

You may also like...