The Deputy Minister of Trade and Industry, Mr Mzwandile Masina says one of the factors contributing to the slow pace of economic transformation is fronting. Masina was speaking at the Broad–Based Black Economic Empowerment (B-BBEE) conference on fronting practices held in Midrand today. The conference was meant to provide the overview of the Broad–Based Black…
The Acting Commissioner for the Broad-Based Black Economic Empowerment (B-BBEE) Commission, Ms Zodwa Ntuli says fronting B-BBEE transactions, followed by fraudulent verification certificates, leads in a number of reported cases and complaints they’ve received since the Commission was established last year. Ms Ntuli was speaking at the seminar for Verification Professional hosted today in Boksburg.…
The Organisational Structure shown below is based on the defined strategic goals of the B-BBEE Commission informed by our mandate in the Act, taking into account the fiscal constraints. We are building the structure to meet the requirement over the initial planning period, and it is expected that this structure will be reviewed upon implementation…
Having considered our legislation and the historical background on B-BBEE policy and strategy, we have identified key areas that we will focus on in order to deliver on our mandate and functions as follows: Safeguarding the outcomes of an inclusive economy Implementing corrective enforcement to achieve compliance Researching, analysing and reporting on the state of…
Our operational environment presents various challenges for us, and this include lack of proper corporate governance, fronting tendencies, falsification of empowering credentials, misrepresentation of facts to secure contracts and quick fix solutions to empowerment, all of which present a fertile ground for unethical conduct in and outside the public sector. Having considered this environment and…
“An inclusive economy for all, together” Inclusive – refers to equal participation, equitable opportunities for of all, and benefits experienced by every section of the society across South Africa. This generally implies a link of macroeconomic and microeconomic factors of the economy for inclusivity to materialise. Economy – entails the state of the country in terms…
To facilitate the accelerated productive implementation of the Act Facilitate – to make it easy and possible for B-BBEE stakeholders to comply with and implement the B-BBEE Act by interacting and engaging with them; and by providing guidance and support through advisory opinions, explanatory notices and clarifications, amongst other things, on the application and interpretation…
An inclusive industrialised economy that is globally competitive. Inclusive – refers to equal participation, equitable opportunities for of all, and benefits experienced by every section of the society across South Africa. This generally implies a link of macroeconomic and microeconomic factors of the economy for inclusivity to materialise. As the B-BBEE Commission, we are vested with…
