QSE AMENDED B-BBEE CODES OF GOOD PRACTICE

The DTI released a Gazette on 09 October 2014 for comment until 14 November 2014.

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WHAT TO EXPECT FROM B-BBEE IN 2015

We can anticipate 2015 to be the year that the DTI and Government will finally implement all the changes planned, spoken about and started to implement in 2014. It will also be the beginning of a process whereby Government will increase its stranglehold on industry to gain more revenue for the state and for the ruling party to try and regain lost ground from the voting public. B-BBEE will be one on these enablers through which this will be attempted.

So what can we expect?

“COMPLEX FRONTING” ENTERS THE FRAY

Fronting

You may feel that we are bombarding you with e-mails on B-BBEE recently, which is quite true, but there is a lot happening as the DTI and Government is slowly but surely getting there act together due to the pressure on B-BBEE to show results for those it intends to benefit.

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SPECIALISED ENTITY AMENDED CODES OF GOOD PRACTICE

There are some significant changes in the requirements for Specialised Entities, which in some cases make it easier than in the past. The Gazette starts off by clarifying what Specialised Entities are and further states that these entities can contribute to the ownership of other enterprises as broad based ownership schemes.

Some of the important factors regulating Specialised EME’s are:

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