Tagged: Ownership

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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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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...

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...

mining charter

Mining Charter Newly Gazetted. Ownership has increased from 26% to 30%. It also affects suppliers to the mining industry.

We have had a tremendous response to our last newsletter covering the Mining Charter in great detail. If you missed the article you are welcome to visit our website to read it. Alternatively, if you require a solution our consultants can assist. Attention: Companies in the mining industry On the...

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JSE-listed companies lax in B-BBEE compliance – listen to SAFM’s – interview with Lianne Friedman.

The B-BBEE Commission says it will take action against non-complying JSE-listed companies. The amendment act requires JSE-listed companies to report on their compliance in terms of B-BBEE to the newly introduced commission. The format of reporting is yet to be prescribed but, given the requirement for public entities to do...

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...

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...

financial sector codes

Amended Codes Sub-Minimum requirements

  Introduction: The Amended Codes have sub-minimum requirements for three elements: ownership, skills development and enterprise and supplier. If an entity does not meet the minimum requirements on all three elements its calculated BEE level will drop by a further 1 level. Sub-minimum element – Ownership: The sub-minimum is 40%...

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...

Ownership

Original publish date – Tue, 10 Aug 2010 14:01:35 +0000, Keith Ownership is the most contentious issues of the B-BBEE elements. Many people condemn B-BBEE as a result of the misinformation surrounding ownership, yet ownership can be one of the best elements to not only earn points, but make profits.The...

Comments on ArcelorMittal BEE Deal

Original publish date – Mon, 16 Aug 2010 11:10:28 +0000, Keith Salient features:ArcelorMittal is creating a new business OPCO which will carry on business in South Africa as Mittal.South African assets of ArcelorMittal will be transferred to OPCO.OPCO is effectively the new ArcelorMittal in South Africa. OPCO will be owned...

Ownership revisited

Original publish date – Tue, 26 May 2009 10:41:41 +0000, Keith The more I hear of ownership deals, the more disillusioned I become that ownership is going to contribute to empowerment. To clarify, I’d like to see meaningful participation in the company by any empowerment partner. What is the point...

Phuthuma Nathi revisited

There seems to be a lot of unhappiness and complaints on various websites and blogs about this initiative. I’ve been wondering why and I think the following is true: This is one of the first very big broad-based offerings to the public in general. Most other BEE deals are between...

multichoice building

The Multichoice – Phuthuma Nathi BEE Deal

I’ve been looking at this BEE deal. From a BBBEE perspective, I think it will achieve its objective of gaining many new black shareholders. It certainly will enable Naspers/Multichoice to earn additional BEE ownership points. There is quite a lot of emotion surrounding this offer – the usual “it’s discrimination”...

OWNERSHIP IS ONE TO CONSIDER

OWNERSHIP IS ONE TO CONSIDER by Cathy Bryant    In order to bring certainty to a market place where “BEE deals” were being concluded with great fanfare but with very little economic flow-through into the economy to benefit people previously excluded from the economy, the Department of Trade and Industry...