As it turns out that the court found that there might have been a little (read a lot) misrepresentation about who the investors were behind the scheme. I am referring to the Rob Rose article in Currency. I’m not going to go into the details of the deal, you can get that from Rose’s article. […]
DimDat’s BEE move that turned into a fronting issue – naughty rich white men 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 »
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 »
The Broad-Based Black Economic Empowerment (BBBEE) Commission is investigating a number of companies and entities for allegedly violating the BBBEE Act. Major names among those under investigation include Netcare, Nokia, MTN, Eskom and the South African Social Security Agency (Sassa). Also to be investigated are six verification agencies. The suspected violations relate to BBBEE ownership structures
awdoz flexes her muscles, but has she chosen the correct opponents? Read More »
One of the things that I am particularly bad at concealing is my disdain for the ANC government, specifically Rob Davies' little kolkhoz, formally known as the DTI. It is staffed by incompetents. I really shouldn't moan because they give me something to write about. As I might have mentioned before the BEE Commissioner is
A united front – acute term for fraud Read More »
Bolshie Bob can thank his lucky stars that his job allows him to grow such a great beard. Such fashionable facial hair permits our minister of trade and industry to hide his red face when either he or his minions publish something or utter something that is just not defensible. I would imagine his skin
Oh there is descent – but what to do Read More »
(O) bservers point to a significant lack of clarity over the new codes. They also say the deadlines for implementing sector-specific changes may be too ambitious. "Without adjustment to these requirements, (construction) companies are at risk of losing their government contracts. The tick-box approach to BEE is over," Murray Chabant, CEO of empowerment consultancy Signa,
Tick box BEE has barely started Read More »
Du Plooy, who owned four close corporations (CCs), issued three different quotations to install fibre cabling at municipal premises in the Cape Town suburb of Kuils River. The quotations were in his CCs' names, which ensured that he was awarded the tender no matter which of the three quotations was accepted – a practice known
Cover-quoting: Cape man fined R30 000 Read More »
Oh the timing. It's holiday season and many people are going to be travelling between JHB and Durban, Cape Town, Tzaneen etc. In each case there are going to be toll fees and queues and roadworks and irritation and much cussing of SANRAL because they are planning to whack us another R500/month just to go
SANRAL derailed by a TOLPLAN front Read More »
Long-awaited amendments to the Broad-Based Black Economic Empowerment (BBBEE) Act will for the first time introduce penalties for fronting — 10% of annual turnover for companies and a fine or imprisonment of up to 10 years for individuals. via www.businessday.co.za First a plea to the world – if anyone has a copy please send it
BEE Act(?) amended Read More »
