Punish BEE non-compliance – BMF

2013-03-20 11:24

There should be consequences for companies who do not comply with black economic empowerment, the Black Management Forum (BMF) has said.

“These companies should be published in a public register and have meaningful fines imposed on them,” the forum’s managing director Nicholas Maweni said today.

“(We) also believe that the government must invest resources and capacity in monitoring the implementation of broad-based black economic empowerment on an ongoing basis.”

These proposals are part of submissions on the BBBEE Amendment Bill, to be tabled by the BMF at Parliament’s trade and industry portfolio committee today.

Maweni said the bill was long overdue as it addressed weaknesses identified in the BBBEE Act of 2003.

The BMF supported the formation of the BBBEE commission, which would oversee the implementation of the act, he said.

The commission would deal with non-compliance, introduction of offences, penalties and promoting good governance and accountability by creating an effective environment to implement BBBEE policies.

“This will go a long way in discouraging fronting practices that pose the greatest threat to economic transformation,” said Maweni.

“The BMF also feels strongly that the BBBEE commission should be constituted as a Chapter Nine institution, or be guided by those principles which will guarantee its independence.”

Chapter Nine institutions are organisations established in terms of Chapter Nine of the Constitution to guard democracy. They include the Public Protector, the Office of the Auditor-General and the SA Human Rights Commission.

Maweni said the BMF was encouraged that the proposed legislative amendments sought to give effect to the framework of the new growth path, aimed at enhancing growth, employment creation and equity.

He said the trade and industry department had to lead economic transformation in the nation, and align all sectors of the economy with the BBBEE Act.

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