Tagged: DTI, Sanas & Commissioner

bee commission logo

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...

jse logo

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 commission logo

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...

BEE sector codes

B-BBEE Companies Must Comply or Face Action: Trade and Industry Minister

The Minister of Trade and Industry (the dti) Rob Davies has said that the Broad-Based Economic Empowerment (B-BBEE) Commission should take action against companies that are found not complying with the B-BBEE requirements for transformation. To date, the Commission has only received 27 reports from the Johannesburg Stock Exchange (JSE)...

EconoBEE - BEE Points = Business

BEE Commission Takes Aim at Ownership Schemes – EconoBEE Newsletter – 22 September 2016

  Ownership trusts have been an extremely common substitute for Ownership transactions. Trusts and similar schemes always had a dark cloud sitting over them because many believed they didn’t correctly follow the BEE legislation. Breaking news: This week The BEE Commissioner made her first moves at defining the status of...

BEE Commission Takes Aim at Ownership Schemes

The BEE Commissioner is doing an excellent job combating fronting. In a short space of time the Commissioner, Zodwa Ntuli has issued Practice Guides, and issued notices to various organisations she felt who were not following the spirit and intention of the codes. The latest media release concerns a consultancy...

EconoBEE - BEE Points = Business

Acting BEE commissioner speaks at EconoBEE event – EconoBEE Newsletter – 15 June 2016

  Acting BEE commissioner speaks at EconoBEE event On the 13th May 2016 EconoBEE was proud to host the acting BEE Commissioner Zodwa Ntuli at our monthly client breakfast. We had a fantastic event with over 80 professional business people from a wide variety of business interests. We host informative...

Scheming schemes

We pride ourselves on helping our clients get the best BEE score, in the best possible way, making perfect business sense in the most economical way.We know the BEE codes and the right strategies to adopt. We also understand the risks associated with BEE. We do not want our clients...

Black owned QSEs could drop a level

The Amended Codes have made BEE more complex. One aspect of the codes intending to make BEE easier for small black owned businesses (QSEs) could hurt those businesses. The codes state that if a business has an annual turnover of between R10million and R50million (excluding those with sector codes), then...

sanas logo bee certificate

SANAS (National Accreditation System) and its own BEE certificate

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 We have many clients who procure from SANAS (SA National Accreditation System). In many cases, this is an exclusion to a company’s eligible procurement, but it can...

Broad-based schemes

Still making the news is the clarification issued by the dti on 5th May 2015, and its subsequent retraction on 15th May 2015.   The intention of the clarification was to clamp down on dodgy or as the minister calls them “mischievous” broad-based schemes – not to close them all....

Broad-based/employee ownership schemes

  We are pleased that the minister has decided not to implement a blanket ban on broad-based and employee ownership schemes see http://www.thedti.gov.za/editmedia.jsp?id=3314. As we have said previously the minister would have to retract his notice, because it was wrong. A good analysis of some good broad-based and employee ownership...

Undue haste after long delay

The revised B-BBEE codes were issued as a draft on 5th October 2012. At the time the QSE codes were not included. The dti kept saying that the QSE draft codes would be released shortly. In October 2013 the dti released the final amended codes, again without the QSE codes....

BEE codes for small companies chided

BEE codes for small companies chidedby Samuel Mungadze, 13 October 2014, 05:58 – Business Day NO SOONER had the Department of Trade and Industry published new codes that require black economic empowerment (BEE) in small business than critics emerged, arguing that the move would stymie small business. The government and...

EconoBEE - BEE Points = Business

Amended QSE Codes Released – EconoBEE Newsletter – 10 October 2014

We at EconoBEE are very excited to announce that the DTI has now gazetted for public comment the Amended B-BBEE Codes of Good Practice for QSEs, The Development Methodology for Sector Codes, Specialised Enterprises Scorecard, Sale of Assets and Equity Equivalents. The deadline for public comments is 14 November 2014....