Litigation fund to be used to enforce EE targets – BMF
POLITICS WEB / 21 AUGUST 2019 - 12.22 / STAFF REPORTER
This will serve as a tool to enforce transformation in an effort to achieve justice, fairness and equity
BMF LITIGATION FUND: A CRITICAL DRIVER FOR ROBUST SOCIO-ECONOMIC TRANSFORMATION
The BMF is raising a litigation fund from which it can draw resources to litigate against gross violations derailing transformation efforts in South Africa. The fund is in line with the organisations 43rd national annual general meeting resolution to intensify the BMF’s advocacy against non-compliance. The BMF has historically played an important role through advocacy to advance the national objectives of socio-economic transformation. This is one of the four pillars of the raison d’être of the BMF.
The basis of the BMF Litigation fund will be to provide the forum with litigation financing in endeavors intended to:
Advise and champion all public interest litigation incidental to the founding principles of the organization and its members, including the general public on behalf of the BMF;
Hold public interest companies established in terms of section 72 (4) of the Act accountable for not achieving targets set in Employment Equity Plans;
Champion alternative dispute resolutions as a cost-effective mechanism for the resolution of disputes relating to the interpretation and implementation of Employment Equity Plans in line with section 20 (2) (g) of the Employment Equity Act, section 166 of the Act and King IV Report on Corporate Governance;
Represent the Forum as a material stakeholder that should be consulted by public interest companies in line with principle 16 of the King IV Report on Corporate Governance,
Lead the process of ensuring that Social and Ethics Committees prioritise Employment Equity and transformation as key performance indicators for public interest company boards, in particular by acting upon the outcomes of Social and Ethics Committees seminar convened by Companies Tribunal which advocates the involvement of civil society.
To this end and against the above-background the BMF seeks to reinforce its monitoring capacity through the establishment of the fund which will serve as a tool to enforce transformation in an effort to achieve justice, fairness and equity.
About the Black Management Forum
The Black Management Forum (the BMF) has been in existence for 43 years. It is a thought-leadership organisation with the main purpose of influencing socio-economic transformation in our country, in pursuit of socio-economic justice, fairness and equity. The BMF stands for the development and empowerment of managerial leadership and the creation of managerial structures and processes that reflect the demographics and values of the wider society.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER