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Former Public Protector Thuli Madonsela says there is a need to rethink the current Broad-Based Black Economic Empowerment (BBBEE) model.
She believes it has reinforced white supremacy, instead of undermining it. For family-owned businesses, BEE (Black Economic Empowerment) is bizarre because you are forcing a family-owned business to now have an artificially black partner, and I think that the model must be discussed. Support independent journalism Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. Subscribe
Third consecutive level 1 B-BBEE rating for Samsung SA
By Brandstories
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Samsung continues to play an active role in Govermentâs vision for a more inclusive society.
Samsung strongly believes in the transformative power of technology and innovation to effect societal change. This makes the achievement of a third successive Broad-Based Black Economic Empowerment (B-BBEE) Level 1 Contribution Status, a significant milestone. It is aligned with Samsungâs belief that companies must remain firmly committed to empowering people with skills and opportunities that help build the nation.
âAs Samsung, weâre committed to building on our long-ranging transformational vision. This is already reflected internally as our people are representative of the countryâs demographics, race and gender. Ultimately, we are completely focused on creating real empowerment through ownership and control of South Africa s economy, and remain aligned with the Governmentâs tran
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Aim to provide policy clarity on broad-based ownership schemes. 12:00
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Ebrahim Patel â addressing âdifferences in opinionâ that exist. Image: GCIS
Minister of Trade, Industry and Competition Ebrahim Patel says the department will soon publish a âpractice noteâ on broad-based worker ownership structures to be used by companies across different sectors of the economy.Â
Worker ownership is seen as an important catalyst for developing a greater level of partnership between workers, managers and owners of companies. The lack of clarity on whether or not the beneficiaries of such schemes are indeed black and have actual voting rights at board level has had a negative impact on some of the investment strategies and effectiveness of the structures.Â
Transformation in Banking Report 2020
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The Banking Association South Africa (BASA) Transformation in Banking Report 2020 reflects the progress made by banks in transforming the industry and increasing economic inclusiveness and empowerment, despite constrained economic conditions.
Significant progress was made on key metrics that track the transformation of the industry and its support for Broad-based Black Economic Empowerment in 2019. These include:
Ivanhoe’s journey of discovery and development at its tier-one Platreef palladium-platinum-nickel-copper-rhodium-gold discovery also marks its 27th anniversaryIvanhoe Mines Co-Chairs Robert Friedland and Yufeng “Miles” Sun congratulate the people of South Africa for achieving 27 years of peace, freedom and democracy. It was on this day in 1994 that South Africa held its first multiracial general election, marking …
Ivanhoe’s journey of discovery and development at its tier-one Platreef palladium-platinum-nickel-copper-rhodium-gold discovery also marks its 27th anniversary
Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Co-Chairs Robert Friedland and Yufeng “Miles” Sun congratulate the people of South Africa for achieving 27 years of peace, freedom and democracy. It was on this day in 1994 that South Africa held its first multiracial general election, marking the end to apartheid.