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'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 :

Link: https://omny.fm/shows/afternoon-drive-702/parliament-hears-that-bbbee-fronting-is-still-an-i/embed?style=artwork

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LINK : http://www.capetalk.co.za/articles/300289/60-of-companies-are-not-meeting-crucial-black-economic-empowerment-targets

Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER

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