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Tackling B-BBEE issues in business

B-BBEE has become a key part of government policy and doing business in South Africa.

With more than 20 years into a new democratic era, Broad-Based Black Economic Empowerment (B-BBEE) has become a key part of government policy and doing business in South Africa.

However, the legislation presents business with certain challenges. Pieter Steyn, head of the B-BBEE practice at Werksmans Attorneys, discusses the following key issues affecting business in South Africa arising from B-BBEE compliance in this Moneyweb webinar:

  • The legal framework for B-BBEE and the role and powers of the B-BBEE commission;
  • Recent B-BBEE commission investigations and cases including the MTN and Eskom decisions;
  • The use of trusts in B-BBEE ownership structures;
  • The severe consequences of fronting practices (10% of turnover fines, 10-year jail terms and being blocked from state tenders for 10 years). What are the red flags?
  • Understanding the role of B-BBEE in state procurement. When can sub-contracting amount to a fronting practice?

Brought to you by Werksmans Attorneys.

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