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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