Once empowered, always empowered

The government has lost two significant empowerment related cases

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This first one is the once-empowered, always empower issue.  To quote the Daily Maverick. “The minister uses the Mining Charter to guide his decision-making and applicants use it to guide their application. But once the application is granted and the transformation objectives are contained in the mining right itself and provided the mining company acts […]

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Zwanton Behaviour – malicious mine minister mangles Mpowerment

Leave a Comment / Mining, Mining Charter, Once empowered, always empowered /

This is the blog post that's been sitting in my head for over a week now. Let's say you are a mines minister who has been known to celebrate Diwali in Saxonwold and arrange for plane flights to Waterkloof and go to Switzerland to chat to Ivan about a certain Tegeta company and a mine.

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Why we should be overjoyed that ABSA may lose some of its BEE shareholding

2 Comments / FSC, Once empowered, always empowered /

There's been a bit of press about this, mostly about the fact that Tokyo wants to sell out via Mvelaphanda Holdings' 40% interest in Batho Bonke. Batho Bonke owns about 4% of ABSA. This is a joyous thing, a mitzvah, a blessing, a wonderful occurrence and other superlatives. Besides raising cash for Tokyo's campaign to

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FSC Continuing Consequences (or once empowered etc)

Leave a Comment / Continuing Consequences, FSC, Once empowered, always empowered /

(Before I start, I have prepared a comprehensive presentation on the draft FSC that I am more than happy to present to any concerned person). The issue of once empowered, always empowered was always going to be a deal breaker under the FSC. The appetite to go off and re-negotiate another deal after billions in

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Once empowered – always empowered discussed (disgust?)

Leave a Comment / BEE deals, Once empowered, always empowered /

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

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PIC and Cyril – two from Business Report

2 Comments / BEE deals, BEE Facilitator, BEE points, Broad Based BEE and the economy, Broad Based Black Economic Empowerment, Education and information, Once empowered, always empowered, PPPFA /

This is truly an hysterical article.  I would normally Tweet on these things but it warranted a lot more than 140 characters.   Ann Crotty reports that the Public Investment Corporation (PIC), which manages about R800 billion of funds on behalf of the Government Employees Fund, is in discussions with the Department of Public Works

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