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10 March 2010
 
 
Cosatu says job creation must come before empowerment
Linda Ensor
Broad-based black economic empowerment (BBBEE) should be subordinated to the imperatives of a job-creating industrial policy, the Congress of South African Trade Unions (Cosatu) said yesterday. To this end, the BBBEE laws should be amended to prevent “import fronting”, whereby black-owned companies won government tenders but simply imported their inputs to the detriment of local companies and jobs.
Business Day
Thursday, March 04, 2010
 
Group Five, BEE partner dispute split
Franny Rabkin
ILima Group, a black economic empowerment (BEE) partner to construction giant Group Five, yesterday argued in the high court in Johannesburg that the courts could treat BEE transactions differently from those not underpinned by public policy. ILima’s counsel, Vuyani Ngalwana, drawing from constitutional case law, said the government had a constitutional mandate to transform the economy, and BEE was one of the ways it had chosen to do so.
Business Day     Thursday, March 04, 2010
 
 
Auditors pleased with transformation rate
Sanchia Temkin
Transformation is blooming in the auditing profession in the wake of the public practice examination results, which were released at the weekend by the Independent Regulatory Board for Auditors (Irba). The results show that 78% of the 1094 black candidates who wrote the public practice exam last year were successful. Bernard Agulhas, CE of Irba, said: “Transformation of the auditing profession remains a high priority for Irba, and what is particularly gratifying...
Business Day     Tuesday, March 02, 2010
 
 
 
Brimstone ‘working hard’ to make empowerment work
Edward West
Brimstone Investment Corporation, the empowerment group that turned around to a profit in the year to December 31, had been working hard to manage its empowerment status and dividends would be paid to black shareholders holding 54% of the group, executive deputy chairman Fred Robertson said last week. Its investment interests include Life Healthcare, fishing groups Sea Harvest and Oceana, clothing maker House of Monatic, and financial services firms Lion of Africa and Aon SA.
Business Day
Monday, March 01, 2010
 
 
Fresh impetus
Larry Claasen
"It's a very positive budget," BEE Institute CEO Leila Moonda. It embraces transformation and also focuses on fostering economic growth, she adds. Some areas - such as the development of small businesses and the lack of incentives to buy local products - were neglected, but overall Moonda says she is happy with the direction of the speech.
Financial Mail
Friday, February 19, 2010
 
 
A much-needed boost
Razina Munshi
As government launched SA's first advisory council on broad-based black economic empowerment (BEE), expectations of an effective empowerment strategy rose - along with scepticism about the council's ability to fulfil its broad mandate. At the council's first sitting last week, deputy president Kgalema Motlanthe acknowledged that SA's empowerment strategy has had mixed success
Financial Mail
Friday, February 12, 2010
 
Bunker fuel empowerment deal done
Siseko Njobeni
CACULO Services, which is part of black economic empowerment group Caculo Investments, has established a joint venture, known as Matrix Kepu Bunkers, with Hamburg-based Matrix Marine Holdings to offer bunker fuels and lubricants in southern Africa. The move brings a black economic empowerment element to the supply of bunker fuels and lubricants in SA.
Business Day     Thursday, February 11, 2010
 
 
New body to expedite empowerment
Wilson Johwa
The government is banking on the recently appointed Broad-Based Black Economic Empowerment Council to speed up implementation of its affirmative action policy. The government’s economic transformation programme has been blamed for alienating the white community, while creating new social inequalities, especially among its intended beneficiaries.
Business Day     Friday, February 05, 2010
 
 
Empowerment fund invests in plant for local plastic
Charlotte Mathews
The National Empowerment Fund is planning to invest R30m-R40m in a factory to produce a locally developed, environment friendly chemical compound used in rigid plastics. The government-owned financing body has the goal of promoting black economic empowerment and enterprise. The plan depends on the outcome of a feasibility study due to be completed in the next six to eight months.
Business Day     Thursday, January 28, 2010
 
 
Black bankers score big from empowerment deals
Stuart Theobald
Black South African bankers are making a fortune out of the empowerment deals concluded by banks in terms of the financial sector charter. Banknotes calculates that the big four banks’ empowerment deals have netted participants a combined profit of R17-billion. And that’s real wealth, unencumbered by debt. The performance is thanks largely to luck in timing — most deals were done in 2004 and 2005 just as bank shares were getting into a bullish stride.
Business Times     Sunday, January 24, 2010
 
 
More Articles

Property sector still battling with transformation Business Day Thursday, January 21, 2010
Financial charter mess: something’s got to give Business Times Sunday, January 17, 2010
Employee share trusts are income Business Times Sunday, January 17, 2010
Drinks all round Financial Mail Friday, January 15, 2010
Starting the empowerment conversation afresh Business Day Tuesday, January 12, 2010
Imbalance of voices Financial Mail Friday, January 08, 2010
Sappi planning black empowerment equity deal Business Day Tuesday, December 29, 2009
AgriBEE deals worth R9m being probed Business Day Monday, December 21, 2009
Cement maker a year early reaching BEE target Business Day Tuesday, December 15, 2009
The way forward? Business Day Tuesday, December 15, 2009
Call for socialisation ‘beyond state’ Business Day Monday, December 14, 2009
Fighting for the rights of the rightful beneficiaries Business Times Sunday, December 13, 2009
RBM seals deal on empowerment Business Day Thursday, December 10, 2009
‘Uninventive’ deal fails to impress Business Day Wednesday, December 09, 2009
Barloworld’s Shongwe in union-BEE storm Business Day Monday, December 07, 2009
Throwing in the towel? Financial Mail Friday, December 04, 2009
Banks offer to reopen talks Business Day Monday, November 30, 2009
Equity deal sows the way Financial Mail Friday, November 27, 2009
Financial services charter exceeded many of its goals Business Day Thursday, November 26, 2009
Adcock signs empowerment deal of R1,3bn Business Day Wednesday, November 25, 2009
Most of private equity market achieves empowerment shareholding Financial Mail Thursday, November 19, 2009
Save the charter Financial Mail Friday, November 13, 2009
Charter boost for black accountants Business Day Monday, November 09, 2009
BEE will survive, even if sadder, wiser Business Day Thursday, November 05, 2009
Throwing in the towel Financial Mail Friday, October 30, 2009
Parties agree on probe into AgriBEE fund Business Day Monday, October 26, 2009
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Out of control
By Robin Wooley
2009/01/29 12:00:00 AM
Black Economic Empowerment (“BEE”) was meant to have found itself on more certain ground with the gazetting of the Codes of Good Practice in 2007. After all the years of anticipating an end to the moving targets and constantly shifting playing fields, the South African business community had cause to celebrate the birth of a decade of BEE certainty as the Codes superseded the plethora of sector charters and corporate self regulation.
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