Black Economic Empowerment (BEE) News
More newsWhat is BBBEE and why is it important?
South Africa is a country rich in diversity. This diversity extends not only to its natural environment but to its people and cultures. Apartheid subverted and stymied the development potential of this diversity by enabling laws and policies that oppressed and excluded the majority of its people, on the basis of racial classification, from effective political and economic participation.
Webinar Recording - Interpretation of the B-BBEE Codes
The B-BBEE Codes are subject to varying and sometimes contradictory interpretation by stakeholders.
B-BBEE practice note issued by the DTIC brings clarity on the rules for discretionary collective enterprises
On 18 May 2021, the Minister of Trade, Industry and Competition published a practice note, in terms of the Broad-Based Black Economic Empowerment Act 53 of 2003, as amended (B-BBEE Act), on the rules for entities such as broad-based ownership schemes (BBOSs), employee share ownership programmes (ESOPs), trade unions, not-for-profit companies, co-operatives and trusts (together referred to as discretionary collective enterprises (DCEs)) for purposes of B-BBEE measurement and recognition. The practice note aims to address the misalignment in the manner in which, amongst others, the B-BBEE Commission, verification agencies and B-BBEE advisors have been interpreting the treatment of DCEs in terms of B-BBEE legislation, in particular when it comes to ownership recognition.