African Tuna Traders CC in Violation of the B-BBEE Act by Using Black Employees as Shareholders to obtain Fishing Rights

MEDIA RELEASE DATE: 25 November 2020   The B-BBEE Commission has found African Tuna Traders CC, Umbhalo Trading (Pty) Ltd and Homotsego Trading (Pty) Ltd to have contravened the B-BBEE Act and has since referred the findings to the Department of Agriculture, Forestry & Fisheries for consideration. This is after an investigation revealed that credentials…

The Supreme court of Appeal Ruling on the Validity of the PPPFA Regulations on 2017 has no Effect on the B-BBEE Act and its Requirements

MEDIA RELEASE DATE:  04 NOVEMBER 2020   The B-BBEE Commission has noted the ruling by the Supreme Court of Appeal that declared the PPPFA Regulations of 2017 invalid and confirms that the ruling has no effect on the B-BBEE Act, as amended, and its requirements. The B-BBEE Act permits organs of state or public entities…

Deputy Minister Gina Slams Fronting Acts as sabotaging SA Transformation Agenda

MEDIA RELEASE 20 October 2020   The Deputy Minister of Trade, Industry and Competition, Ms Nomalungelo Gina has described fronting and misrepresentation of Broad-Based Black Economic Empowerment (B-BBEE) status by some South African companies as a demon that shatters the transformation agenda of the country.   She addressed a webinar hosted by the B-BBEE Commission…

B-BBEE Commission host session to update on scourge of fronting and misrepresentation of B-BBEE status

MEDIA RELEASE DATE: 19 October 2020   The B-BBEE Commission is hosting a webinar session to share with the public the investigation and enforcement cases received since its establishment in 2016, which include fronting, misrepresentation of B-BBEE status and falsification of B-BBEE certificates. The session is scheduled for 20 October 2020 at 10:00, with the…

B-BBEE ownership transactions promise to drive economic transformation if properly managed structured

MEDIA RELEASE DATE: 30 SEPTEMBER 2020   499 major Broad-Based Black Economic Empowerment (B-BBEE) transactions exceeding R25 million were submitted for registration to the B-BBEE Commission since 2017 to date, although it noted that parties often neglect to submit them within 15-days of conclusion, as per requirements of the B-BBEE Act. It is of the…

B-BBEE Commission hosts a webinar with practitioners on B-BBEE ownership structures

The Broad-Based Black Economic Empowerment (B-BBEE) Commission will host a webinar session on 29 September 2020 at 10h00 with practitioners that are involved in advising, negotiating or drafting of governing documents for B-BBEE ownership deals and structures for alignment with the B-BBEE Act. Panellists will share their experiences and keys compliance and governance issues emerging.…

Acquisition of Black Ownership and Method of Funding are Critical in Transforming the Economy

MEDIA RELEASE DATE: 6 AUGUST 2020   The Commissioner of the Broad-Based Black Economic Empowerment (B-BBEE) Commission, Ms Zodwa Ntuli said the acquisition of black ownership and method of funding are critical in transforming the economy and making sure that black owners have voting rights in their acquisitions. Ms Ntuli was addressing the participants on…