This post was originally published in April 2013. Please excuse the indulgence of the repost. What is interesting is that certain links in the original post are now dead. I've had to look for new ones. The BEE world is really for the good times. Empowerment likes the idea that companies make money and […]
Delinquent, or absent shareholders and ownership – repost Read More »
Picture the scene – a newly despised BEE beneficiary is being interviewed by a journalist. The antagonism towards this person increases with every interview, but the beneficiary maintains his composure consistently. The interview now turns to the fact that the BEE deal might not generate that many points. Cue in interview. BR: Some of the
An ekspurt dupes the public Read More »
What a labour of love. I was sent this document by Mzwandile Jacks this afternoon for comment. What can you say to this – it's a JSE commissioned report and it comes up with an effective 18% black ownership of the JSE (this is vs the 24% that Solidarity came up with). The JSE got
Black ownership on JSE 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 »
It's made the press again -in fact it's made a lot of press. I was referred to the Business Day report by Robert Simmonds. This report concentrated on the beneficiaries, 20% of whom are SAB's lower paid white employees. And once again Mr Obvious (one Ajay Lalu) is asked for his opinion – to which
I made the Star Workplace last Monday. The article said that BEE deals should dry up until the new power base in the ANC is known. Stuff I have mentioned before on this blog. I’ve made my feelings about BEE deals well known through the years. In fact I started Caird 4 years ago because
I have gone through a re-branding process. Whilst Caird is technically a group of companies the name "Caird Group" was becoming a little wordy. So we are now operating simply as "Caird." Dianna Games’ column in this morning’s Business Day discusses Mugabe’s "Indigenisation and Empowerment Bill", which is waiting for Mugabe’s signature before it becomes
Section 38 made the Business Day this week, Changes to law will aid new deals (watch out for this link it is broken on their website – it might be fixed). The story provides a little history on the complexity of doing deals when they can’t be self financed. (I have to type this out
More on section 38 Read More »
Section 38 of the Companies Act, 1973 prohibits a company from providing financial assistance for the purchase or subscription of its own shares. To be more specific: 38. No financial assistance to purchase shares of company or holding company.— (1) No company shall give, whether directly or indirectly, and whether by means of a loan,
Amendment to Act will spur on empowerment Read More »
This article appeared in Business Day on Tuesday (1 Aug, 2006). http://www.businessday.co.za/articles/topstories.aspx?ID=BD4A242965 There is no shortage of financial institutions with cash for these deals, the question should be "are there enough deals out there?" I think I might not have a full understanding of the number of deals there are to be had out there,
Foreign banks looking for a piece of BEE action Read More »
