'60% of companies are not meeting crucial black economic empowerment targets'
CAPETALK.CO.ZA / 18 APRIL 2018 - 05:59 / STAFF REPORTER
The Broad-Based Black Economic Empowerment (B-BBEE) Commission says 60% of entities in South Africa are at the lowest level of compliance.
The Commission appeared before Parliament’s select committee on trade and international relations on Tuesday.
Commissioner Zodwa Ntuli - Image - Web
It says it has noted fronting practices as a continued problem.
Commissioner Zodwa Ntuli says the areas of ownership, skills development and enterprise and supplier development needs improvement.
If you do not meet the 25% plus 1 target on ownership then you drop one level down, if you do not meet the targets set for skills development and enterprise development you also drop one level down.
A whole lot of companies have not been able to meet those priority elements, so they are not meeting the sub minimum of 40% on those points, so automatically they will drop down to the lowest level.
— Zodwa Ntuli , Commissioner for B-BBEE Commission - Listen to :
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER