In October this year, the BEE commission planned to issue about 50 preliminary and final findings against companies for contraventions of the B-BBEE act. What are these contraventions? One of them is fronting. A major form of non-compliance is fronting, or the introduction of spurious schemes that purport to introduce black shareholders (sometimes a domestic worker) without assigning any benefits to them. This enhances a company’s B-BBEE status and increases its chance of winning contracts. Fronting is prevalent and some companies have already been issued with findings and more are following, according to the BEE Commissioner Zodwa Ntuli. Talking to Teboho Mafodi and Bulelani Balabala about the real state of B-BBEE and its transformation - or better yet, the lack there off - is Mr Keith Levenstein, founder of EconoServ. He is the moderator of the B-BBEE forum on Business Masters. Keith has been involved in broad-based black economic empowerment since 2005. His business is well known to all in the industry. Their aim in this forum is to assist businesses in becoming BEE compliant.
Teboho Mafodi looks at the creative industry with a focus on markets. He's joined by Karabo Songo, Group Founder and CEO of Olive Communications, as well as Yandisa Sokhanyile from Xanopia Women's Group to enlighten us on the creative solution their partnership with Commonwealth Businesswomen's Network has brought to Africa.
Teboho Mafodi puts the focus on financial management for this edition of 360 Biz. He brings many viewpoints to the table on “all things business”. Incorporating all stakeholders, from established business, to government, SMMEs, entrepreneurs, professionals and legislators. Together these sectors provide practical solutions for real challenges facing African businesses.
Broad Based Black Economic Empowerment (BBBEE) is a form of Economic Empowerment that aims to redress the impact of systemic racism on economic opportunities. Recently the BBBEE codes were revised for a number of reasons. Joining Teboho Mafodi to delve deeper into these reasons and look into the implications of…
Ellis and Arnie are joined by Dylan James, director of Entrepreneur Expo to discuss the state of entrepreneurship. They also discuss the apparent paralysis in the government and in the private sector including recent chaotic scenes from parliament and the board room brawl at PPC (A major cement company).