ARTICLES RELATING TO BEE

Top economist slams BEE

2013-05-10 14:48

Professor Mthuli Ncube of the African Development Bank says black empowerment fails to create value, and that the entrepreneurship element it needs is missing.

Net1 deal chokes after AllPay attack

2013-04-19 18:24

Business Venture Investments says the attack by Absa subsidiary AllPay made it impossible to raise funding for a Net1 BEE deal.

BEE will harm SA, union warns

2013-03-13 16:33
81 comments

The broad-based black economic empowerment bill should be scrapped since BEE is detrimental to all South Africans, including blacks, says Solidarity.

Large sectors fall short of BEE laws

2013-01-29 20:18

There are low levels of compliance with black economic empowerment laws in sectors of the economy, including agriculture and manufacturing, a top official says.

Secret influence in BEE deals - report

2012-12-19 14:38

Certain people are non-negotiable when it comes to choosing beneficiaries in black economic empowerment deals, a former business executive has reportedly said.

BEE consultant lashes out at JSE survey

2012-12-06 18:44

A BEE consultant has lashed out at the JSE’s survey which shows that 21% of the Top 100 Companies were held by black South Africans.

Prasa ready for roll-out

2012-12-02 15:07

In a few weeks, the Passenger Rail Agency of SA will set the ball rolling for the transfer of R37bn into the hands of black South Africans.

Donations could cost BEE points

2012-11-01 08:20

Businesses could lose black economic empowerment points for making donations to charities which do not have 100% black beneficiaries, a report says.

Absa BEE partner offloads R3.4bn stake

2012-10-10 15:07

Absa says its eight-year partnership with its black economic empowerment partner Batho Bonke created value for both parties.

Revised BEE codes raise eyebrows

2012-10-03 07:58

Revised black economic empowerment codes could prejudice some companies, corporate law firm Webber Wentzel says.

Localisation push hits headwinds

2012-09-07 12:18

Local content requirements for firms bidding for tenders from government and parastatals are challenged by SA suppliers' struggle to compete with cheaper imports.

Prasa plans R15bn BEE scheme

2012-09-05 09:25

The Passenger Rail Agency of SA is planning a R15bn black economic empowerment programme as part of its plans to modernise Metrorail.

Woolworths douses racial fires

2012-09-04 12:55
102 comments

White workers at Woolworths have come to the retailer's defence, tweeting as individuals that racist employment claims are “baseless” and “100% untrue”.

BEE battle at ad firm

2012-07-15 10:16

One of SA’s biggest advertising firms, Y&R South Africa, has hauled directors of its BEE partner company to court to stop them from making what Y&R deems defamatory remarks.

PPC enters R1bn empowerment deal

2012-07-12 08:18

Cement maker Pretoria Portland Cement is to sell a 6.5% stake to its staff and black investors in a deal worth about R1.1bn, to meet affirmative action rules.

Well-connected BEE players lose lustre

2012-07-09 13:40

Business leaders who in the past succeeded through political clout rather than entrepreneurial initiative are no longer seen as iconic, according to a study.

Minister slams fuel industry BEE levels

2012-07-05 12:54

Energy Minister Dipuo Peters says an audit of the charter meant to give black industry players access to fuel infrastructure shows highly disappointing compliance.

Zuma: Whites still control SA economy

2012-06-26 12:33
416 comments

SA's economy is still under control of whites and more drastic steps are needed to ensure the black majority can benefit from its wealth, President Jacob Zuma says.

Transnet appoints BEE auditors

2012-02-20 11:11

Transnet has appointed SizweNtsalubaGobodo as its external auditor as part of state objectives to transformation and skills development, says minister Malusi Gigaba.

BHP coal arm, Nhleko in BEE deal

2011-12-13 14:16

BHP Billiton's SA coal unit is to sell an 8% stake to a black-owned consortium led by the Pembani Group, which is chaired by Phutuma Nhleko.

Kumba employees to reap big payout

2011-11-29 14:21

Kumba Iron Ore says over 6 000 workers will be paid more than R500 000 each as part of an empowerment plan.

Guilty firms to be fined for fronting

2011-11-24 13:48

Under proposed new laws, firms found misrepresenting their black empowerment credentials could be fined between 2% and 10% of their turnover.

BMF slates BEE Advisory Council

2011-11-18 12:20

The Advisory Council on black economic empowerment is toothless and should become a chapter nine body, says the Black Management Forum.

Amplats in R3.5bn BEE deal

2011-11-07 11:30

Anglo American Platinum, the world's largest producer of the metal, is to give a portion of the firm to communities where it mines.

Davies: New BEE tender rules out soon

2011-10-31 10:52

Trade and Industry Minister Rob Davies says new preferential procurement regulations will be out in December.

 

SA poorer thanks to BEE - study

2013-04-22 22:44
117 comments

South Africans are poorer as a result of Black Economic Empowerment, which has failed to speed up economic growth and reduce inequality, Solidarity says.

Call to punish non-BEE compliant firms

2013-03-20 10:57
123 comments

The Black Management Forum maintains there should be consequences for companies which do not comply with broad-based black economic empowerment.

Gold Fields confirms probe into BEE deals

2013-03-13 13:35

Gold Fields has confirmed that its black economic empowerment deals are under investigation, after press reports raised questions about them.

Ditch BEE, urges institute

2013-01-16 14:10

The Institute for Race Relations says there is no point in further futile attempts to reform BEE, and that the policy should be scrapped altogether.

Litha BEE deal talks continue

2012-12-18 10:34

Litha Healthcare Group is engaged in negotiations with a black economic empowerment party to secure a subscription for ordinary shares in the company.

Mining charter falls short of BEE act

2012-12-03 07:58

The mining charter in its current form betrays the principles of empowerment and should be aligned with the BEE Act, the Black Management forum says.

Expert: Mining needs real BEE

2012-11-14 14:33

Transformation of the mining sector as defined by the mining charter is not confined to ownership of the mines, says an expert.

Black business wants a bigger slice

2012-10-14 17:38

In pushing black entrepreneurs to help create jobs, the Black Business Council is asking for 30% of the planned R1.3 trillion infrastructure spending.

SABC denies white bias claims

2012-10-09 09:48

The SABC has dismissed a media report that it does not look after the needs of disabled staffers or blacks in junior positions.

Transformation remains far off target

2012-09-17 13:15

SA's business environment is still not conducive to the entry of black businesses in terms of capital, skills and market place, says an industry expert.

DiData details R1.26bn BEE deal

2012-09-05 12:34

Dimension Data has listed the outcome of its R380m transaction it signed eight years ago with an empowerment consortium led by Andile Ngcaba.

Threats to boycott Woolies

2012-09-05 08:21
267 comments

Woolworths must open all job positions to all race groups or face action, Solidarity has warned.

BEE investors to quit Absa

2012-08-05 10:47

Black economic empowerment investors in Absa, are set to sell their stake in the banking group, City Press reports.

Retail sector 'needs BEE charter'

2012-07-12 11:11

Despite black economic empowerment programmes by retail giants such as Pick n Pay, Massmart and Clicks, experts say the sector is not fully compliant.

Davies warns of stricter BEE codes

2012-07-10 11:41

Trade and Industry Minister Rob Davies warns that BEE points will be deducted from businesses which do not invest in enterprise, supplier, and skills development.

Bank chiefs have worst reputation

2012-07-09 11:54

Absa CEO Maria Ramos and Nedbank CEO Mike Brown have the worst reputations among the leaders of the JSE's top 10 companies, according to a survey.

Capitec's lucrative bet

2012-07-01 11:54

While many black economic empowerment deals are deep under water, Capitec Bank's black investors are smiling all the way to the bank.

SA's black wealth accumulation crisis

2012-04-29 10:59

As South Africa celebrates its 18th anniversary as a democracy, wealth accumulation continues to elude blacks, who make up about 90% of the population.

Net1 seals BEE deal

2012-01-26 16:43

Net1, whose subsidiary distributes social grants, says it has agreed to issue about a fifth of its shares to a black empowerment consortium.

Government unveils new BEE products

2011-12-07 10:46

Trade and Industry Minister Rob Davies says power pylons, rail rolling stock and buses are among products classified under preferential procurement regulations.

SMMEs lose faith in finance houses

2011-11-27 12:15

Of emerging entrepreneurs, 60% have lost faith in banks and government-owned finance houses, opting to finance small businesses from their own pockets, a study shows.

Num contests miners' BEE figures

2011-11-24 13:28

The National Union of Mineworkers says the Chamber of Mines figure of more than 26% black ownership in the industry is untrue.

October: BEE rules to aid industrialists

2011-11-17 22:00

Trade and industry DG Lionel October says changes to black economic empowerment rules are meant to create greater black participation in the core of the economy.

Zimplats output falls in Q1

2011-10-31 17:33

Zimplats says a shutdown caused production to drop and that it is on track to submit a revised local ownership plan to the Zimbabwean government.

Ramaphosa in deal with iconic businessman

2011-10-25 09:20

Chris Gardner, the businessman immortalised in the movie The Pursuit of Happyness, is to embark on a venture with Cyril Ramaphosa.

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