Sometime in the next 12 months your BEE certificate will come up for renewal. In the month or two before that date, your verification agent will be working to prove what you say is true and give you the BEE points you deserve. In the months before that, you have the time to spend the […]
The time of the year associated with gift giving is upon us. Many different ways exist for giving and sharing presents but one often encountered in coffee groups, workplaces and other social gatherings is a Secret Santa, where people are expected to buy something for someone else for a certain value and to receive another […]
In this article we look at the official stats on the BEE ownership, contrast them to what we know, and see what this tells us about the ‘lay of the land’. Hint – it’s not what the BEE commission think it is… Energy showcase: In his recent budget speech Minister Mboweni did not paint a […]
Many companies use trusts as part of their BEE ownership structures, but these are often abused and as a result the BEE Commission does not react well to structures that include trusts. In this article we explore the origin of trusts, the nature of discretionary trusts (and related problems in terms of BEE ownership requirements), […]
Who do you serve? The journey of a business leader is often about ego. “I founded this business”, “I closed that deal” or “I employ 350 people”. This stuff may feel true but it turns people off. Real leaders leave their ego at the door. Real leaders serve others through their business; they realise that […]
As an entrepreneurial business grows, its shareholders face a continual choice around how much of profits should be reinvested. Given entrepreneurial optimism, early or continued success and a while to go before retirement, most re-invest profits continuously for years, if not decades. The result (if things go well) is that successful founder-shareholders end up with […]
Solidarity, a 120-year old trade union with 140 000+ mostly white members, has engaged in a legal strike against the Sasol Khanyisa (BEE) share scheme which it claims is discriminating against white Sasol employees. Context: the rise and fall Sasol Inzalo: Khanyisa is Sasol’s second attempt at BEE. The Sasol Inzalo Scheme was launched about […]
There are 2 reasons to do a BEE ownership deal: To contribute towards making South Africa a more stable, racially inclusive economy. To grow your South African business (the reason most BEE deals are really done). So how does a BEE deal help you grow? As a recap, the BEE Act is effectively a set […]
In a classic case of fronting, the owners of a panel-beating shop could face criminal charges, blacklisting by Treasury from getting government tenders and an investigation by the Companies and Intellectual Property Commission for violating the Close Corporations Act. The B-BBEE Commission found that Willie and Petronella Saunders were trying to divert profits earned by […]
We recently met with a large-Ngo (>200K members), whose mandate means that they are clearly and outwardly opposed to BEE ownership. This is primarily because they regard it as government interference in a free market. We presented the Tusker structure as a way for their members, who might be opposed to BEE ownership because of […]
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