On June 27, 2023, the US Departments of State, the Treasury, Labor, Commerce, and Homeland Security, and the United States Agency for International Development issued a joint advisory — the Africa Gold Advisory (“Advisory“) — that (i) highlights the opportunities and specific risks raised by the gold trade across sub-Saharan Africa and (ii) encourages industry … Read more
In brief In June 2023, the Johannesburg Stock Exchange (JSE) proposed amendments to the JSE Listings Requirements including a new section that contains the listing requirements of the Black Economic Empowerment (BEE) Segment of the JSE. Among other things, these requirements include that trading in BEE securities must be restricted to a BEE-compliant person pursuant … Read more
Broad-Based Black Economic Empowerment strives to ensure that the economy is structured and transformed to enable the meaningful participation of the majority of its citizens and to further create capacity within the broader economic landscape at all levels through skills development, employment equity, socio economic development, preferential procurement, enterprise development, promoting the entry of black … Read more
As a B-BBEE compliant small business, you will gain access to a number of favourable tax gains and be better positioned to attract more business. The B-BBEE policy system provides the country with a growth strategy that aims to promote a more equitable and economically inclusive society that will help South Africa realise its full economic … Read more
A while back a new law was introduced by finance minister Enoch Godongwana, basic state-owned organisations no longer need to rely entirely on BEE-compliant companies during procurement procedures. Years of resistance from big industry players, which claimed that the government’s preferential procurement policy drove up prices and hurt the economy have finally paid off. The … Read more
Training is a crucial component of B-BBEE as it addresses the skills shortage that is prevalent in South Africa. The skills shortage is a significant challenge for businesses in South Africa, which limits their growth potential. By providing training to their employees, businesses can improve the quality of their products and services, increase productivity, and … Read more
As business owners, we have a responsibility to contribute to the growth and development of our communities. B-BBEE (Broad-Based Black Economic Empowerment) is a crucial tool for promoting economic transformation and creating a more inclusive society. B-BBEE seeks to address the legacy of apartheid and promote equal opportunities for all South Africans, regardless of their … Read more
What is B-BBEE Training? B-BBEE, or Broad-Based Black Economic Empowerment, is a program in South Africa that aims to promote economic transformation and redress the inequalities of the past by increasing the participation of black people, women, youth, and people with disabilities in the economy. B-BBEE training is an important component of this program, as … Read more
The financial year-end is upon us and with one to two months to go, depending on when an organisation wraps up its year, business owners are ensuring best practices are in place to improve their B-BBEE score for the coming year. For a few organisations, the next few weeks are crunch time. There is still … Read more
The Black Economic Empowerment (B-BBEE) scorecard is a system used in South Africa to measure a company’s level of compliance with B-BBEE policies. The scorecard consists of seven elements, and it’s important for companies to understand each element in order to improve their B-BBEE rating. Here is a brief overview of each of the seven … Read more