This is not news but it's being reported. By the way you should check Citywire out – I know the editor and she's a proper financial journalist The Financial Sector Conduct Authority (FSCA) and the Broad-Based Black Economic Empowerment (B-BBEE) Commission have signed a memorandum of understanding (MoU). The MoU, signed today, strengthens their co-operation […]
FSCA and the BEE Commission – why I am concerned Read More »
It's not like me to post something that may agree with the BEE Commission. Here's an article I found that is interesting. I'll post it in its entirety This news may come as a surprise to many private companies operating in South Africa. Black economic empowerment is a voluntary process. It could never be made
When are you legally obliged to implement a BEE programme? Public sector is Read More »
This was sent to me by a few people. It's noise, it's nonsense, and isn't even good journalism. The awdoz is not good at her job. That job should not exist in the first place. There's not much going on there. They've lost two cases that I know about – both highlighting their incompetence. The
Yesterday's post is a request for money to take SANAS on. The precedent has been set by SERR Synergy and it does show how legally weak both SANAS and the dti's position is. However a court case between Cargo Carriers and the BEE Commissioner was heard in the North Gauteng High Court. Judgement was delivered
BEE Commission taken to court and loses. The Cargo Carriers saga Read More »
There's a story I like to tell, unlike some of my stories this one is true. Many years ago before I was as jaded as I am now I went to meet a potential client about something (more on that potential later). The gentleman I met there was telling me that his company was 60%
The might of the awdoz is felt as far as Nigeria Read More »
There have been three articles about the BEE commissioner who appears to put her status above everything else. It's a true application of empowerment über alles, something the bolshie bob attempted to by placing the BEE Act as being the highest piece of empowerment legislation, almost trumping the Constitution. I have long held the contention
The esteemed BEE commissioner has gone rogue – you only noticed now! Read More »
There is a genuine concern that the commissioner's issue with trusts will end up at SANAS. Not that that in itself should be a problem. SANAS is required to be cognisant of opinions but not waver from the prescripts of the BEE codes. I cannot see SANAS sending out a notice saying that broad-based trusts
A bit more on the trusts and the commissioner and that thorn called catastrophes Read More »
It certainly appears so. This is a strange story because it seems that only Business Day published the story. And as usual they published behind their paywall so you can't see it. I do have a copy though and I will lift a paragraph or two for your benefit. The Black Economic Empowerment Commission, which
Has the commissioner stepped over the trust mark? Read More »
This is a post that I have been wanting to write for a long time. I eventually wrote it as an article for Moneyweb, who published it on Friday and syndicated it to the Citizen (now I'm really famous). I have been mulling this over for a long time. Why is it that these BEE
Transformation or a smokescreen – the BEE codes are more of the latter Read More »
Conspiracy is a such a great word. It is simply defined as "the act of conspiring together". Conspiring is a little more nuanced. Merriam Webster offers these three definitions to join in a secret agreement to do an unlawful or wrongful act or an act which becomes unlawful as a result of the secret agreement
The SANAS/commissioner conspiracy Read More »
