On 25 November 2024, judgement was handed down regarding a matter involving Dimension Data Facilities (Pty), Dimension Data Investments South Africa (Pty) Ltd, NTT Limited and others. The matter pertained to the element of Ownership and how certain structures circumvent the objectives of Broad-Based Black Economic Empowerment.
A part of the Summary of the High Court Case Judgement stated the following:
Broad-based Black Economic Empowerment Act 53 of 2003 - Conspiracy by senior
executives of a group of companies to use en comandante / Limited Partnerships and Private Equity Fund Management structures to circumvent the objects of the Broad-based Black Economic Empowerment Act 53 of 2003 and the codes of good practice.
Ownership Services are available to assist members in understanding Ownership requirements as well as Fronting Practices.