At face value it appears to be some sort of black industrialist assertiveness. Dig my man the Zunguriser Sandile Zungu, a vice-president of the Black Business Council and an economic adviser to President Jacob Zuma, described this as a "most welcome" move that would help create new black industrialists. "Whoever hates this clarification notice is […]
Something very sinister is happening here Read More »
Let's say that you are the boss of the dti. You are informed by a small group of very politically connected people who purport to be businessmen but are either rent boys or professional blacks, that the BEE codes of your predecessor aren't cutting the mustard and that they need to be refined to "bring
Not that this should come as a surprise. He's not been ready ever, a feature of an incompetent person who as a result of political patronage gets put in charge of the one ministry that he is least capable of running. If you want to get an idea of how little he cares about the
May the 1st approaches and Rob’s not ready Read More »
A recent email from AQRate said the following This is probably the question we are asked the most often. Will these Amended Codes and all Sector Codes really become effective on 1 May 2015. A well known BEE Consultancy recently advised that there would be a delay and this was refuted in the strongest of
BEE sector codes’ – your BEE options Read More »
A rumour is now doing the rounds that the period for comment for the second round of codes has been extended to the full 60 days – I can't find this notice on the DTI's website but it is an embarrassment for them and probably won't be put up. I think we have until 9
The underlying stench is overwhelming Read More »
Zuma has appointed new members for the presidential black economic empowerment council, his office said on Thursday. They are: – Trade and Industry Minister Rob Davies; (communist – liabilitiy) – Susan Shabangu, Minister of Women in the presidency; (useless mining minister – liability) – Labour Minister Mildred Oliphant; (look at the state of employee legislation
Zuma appoints new BEE council. Really? Read More »
Once upon a time competent minister of trade and industry published the Broad-based Black Economic Empowerment Act (53 of 2003). The incumbent then decided to amend it and added in a lot of unmonitorable rubbish and sent it off to the most competent of competent people, the Duke of Nkandla, for signature. The amendment lies
Section 9 of the BEE Act and the proposed QSE Codes (inter alia) Read More »
The news that the DTI planned to bring verifications in house was sent to me yesterday. I immediately phoned Gerhardus Burger (who is no longer at IRBA) and we had a little chuckle. The problem I had yesterday was that I didn't know who actually said that they would can verification agencies. Lo and behold
DTI taking over verification, over my section 22 Read More »
Thank goodness for Keith Levenstein. Those in the industry know that he knows not what he speaks of, and so he is a blogger's dream. In fact I reckon Hlaudi has already issued him with the very first journalist's licence. His latest press release, which was published by Engineering News , has certainly got tongues
Junk status, BEE and Levenstuck Read More »
The irony of Sarbanes-Oxley was that it was intended to prevent more Enrons and Worldcoms but it ended up being a gigantic tax on small companies. — @pmarcaThe IPO is dying. Marc Andreessen explains why. – Vox via fredwilson.vc Fred expands on this in a later post One thing I have seen over and over
Unintended consequences of over-legislating (we aren’t alone) Read More »
