Five out of the seven planned sessions are over. They are small and focussed. David Kalmin knows his clients and I know mine. The initial purpose of these sessions was to let our respective clients know that we are on top of what's coming. I think the difference between our sessions and most other commercial […]
Breakfast BEE sessions, a sort of report back even though they aren’t finished yet Read More »
There are clearly parallels between the Broederbond strategies to enrich themselves and give jobs and tenders to their pals and the ANC policies of black economic empowerment, crony capitalism and cadre deployment. One big difference is that the Broederbond invested heavily in education, training, conferences and workshops to enhance skills in order to prepare their
Black South Africans need an AfriForum and Broederbond – Max du Preez Read More »
And so spake the Independent yesterday One of the losing consortiums in Vodacom's R7.5 billion black economic empowerment (BEE) transaction claims that the cellphone company lied about its decision to award the stake to Thebe Investment and Royal Bafokeng Holdings. Tiger Consortium Telecommunications is demanding R100 million from Vodacom for damages it says were a
Tiger’s contorted Vodacom tangle Read More »
The nature of empowerment deals has changed in the last few years, MD Samara Totaram told investors at PSG’s recent AGM. “Early deals were fully vendor funded, with big discounts and long lock-ins. This has changed and today companies expect BEE shareholders to put skin in the game.” Another trend in BEE deal-making is the
Changing face of BEE deals, which are few and far between Read More »
I was at a meeting with a company who wanted to know what happens when the shareholders vest their shares. After about half an hour I figured they were talking about cashing out. I like cashing out – it generally means you are going to make some money. Companies who have done BEE deals don't
Vesting and a Rabbitt in the tree Read More »
We need to talk about this. It seems as though Russell Loubser's casual comment last week is actually going to happen. There were two articles about this today. It apparently is quite a far way down the line in being developed – we can expect it in September. South African bourse operator JSE (JSE:JSE) Ltd
Got this from Business Day this morning ILIMA Group, a black economic empowerment (BEE) partner to construction giant Group Five , yesterday argued in the high court in Johannesburg that the courts could treat BEE transactions differently from those not underpinned by public policy. ILima’s counsel, Vuyani Ngalwana, drawing from constitutional case law, said the
(Group) 5(0) ways to leave your lover Read More »
We are about to hit the third anniversary of the DTI's codes. This is significant because to my mind it is the first time that we can use the once empowered, always empowered; high watermark or continuing consequences principle. The reason for this is paragraph 3.5.1.3 of code 100 states that transformation must have taken
Once empowered – always empowered discussed (disgust?) Read More »
And I quote Chief operating officer of empowerment rating agency AQRate KZN Brigitte Brun said yesterday that the recession had a “helluva impact” on BEE deals. A lot of them that have been finalised have resulted in little real empowerment as black investors have been left with a huge debt burden. She said this
True empowerment is what exactly? Read More »
Tim Cohen wrote a rather hard hitting comment about Patrice Motsepe's strange comment about nationalisation in yesterday's Business Day “My belief has always been, if nationalisation is what is in the best interests of SA, I’ll support it, whether it’s nationalisation, or whether it’s socialism — if the policies are what will improve, uplift and
Motsepe re-evaluated Read More »
