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Ian Ferguson | 2 March 2026 Peter Attard Montalto’s most recent column refers (“After the budget delivery is up to line departments”, February 25). Our state does not do “long, hard slogs”, or if it does it is usually to double down on irrational, racial and ideologically damaging economic policies. One example is the Mining Charter, which blocks any foreign direct investment into new mining, the sector that is responsible for the present windfall in tax revenue. Due to the Employment Equity Act we in effect severely limit our human capital and human capital development, so there are very few people who are even capable of doing the “long, hard slog”. This is all before we even consider the huge opportunity cost of BEE, especially in underserved poor communities, Starlink being but one example of shooting ourselves in the foot. Breaking out of the 1%-2% growth trap will not be achieved by a “long, hard slog”, it will only be done once we move on from using the past to justify racial retribution and black nationalism. We need to get to a place where all South Africans (and foreign investors) have equal opportunity to invest and contribute unhindered by state over-reach and self-defeating legislation. For economic growth it matters not who owns the means of production (which our state is fixated on), but that investors are willing to put up their hard-earned money for a fair return, which legislation clearly does not encourage. Get this right and the “long, hard slog” may add value. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://www.businessday.co.za/opinion/2026-03-02-letter-state-policies-limit-growth/

Myrna Sachs | 2 March 2026 In today’s rapidly evolving workplace, employee well-being can no longer be viewed through a narrow or purely physical lens. Mental health and invisible disabilities, once considered private or peripheral, are now central to organisational sustainability, productivity and inclusion. Employers and HR leaders have a responsibility to create environments where employees feel safe, seen and supported, even when their challenges are not immediately visible. A useful starting point is understanding the role of structured workplace health support. Health risk management services help organisations navigate health-related risks, absenteeism and incapacity. This includes verifying medical conditions that may qualify as disabilities under employment legislation and guiding employers on appropriate accommodations. The aim is not merely compliance but enabling employees to remain healthy, engaged and productive. The cost of ignoring mental health Mental health disorders often go unnoticed at work. Stigma remains a significant barrier to disclosure; many employees fear discrimination, job loss or being perceived as weak. Others are unaware that support structures even exist. The cost of this silence is staggering. South Africa loses more than R250 billion annually due to untreated mental health conditions. Depression affects over a quarter of the population, and mental health–related absenteeism costs the economy billions more in lost productivity. Indirect costs such as presenteeism, reduced performance and team disruption can be four times higher than salary costs. Access to mental healthcare further complicates the picture. South Africa has only 600–700 psychiatrists, with just 25–30% in the public sector, leaving roughly 200 specialists serving most of the population. With about 0.31 psychiatrists and one psychologist per 100,000 people, the treatment gap is severe. Cultural beliefs, economic inequality and limited healthcare infrastructure deepen the challenges. This makes the workplace a critical platform for intervention, promoting open dialogue, investing in awareness and embedding supportive policies. Understanding Invisible Disabilities Invisible disabilities are conditions that are not immediately apparent but significantly impact a person’s ability to function at work. These include mental health conditions such as anxiety and depression, chronic illnesses like fibromyalgia and lupus and neurodivergent conditions such as ADHD or autism. Although an estimated 7.5–15.7% of South Africans live with disabilities, up to 90% of people with mental illness do not receive care. Invisible disabilities are highly individualised. Two employees with the same diagnosis may function very differently. For instance, while one employee with diabetes may work without limitation, another may experience debilitating fatigue or unpredictable complications. Categories of unseen conditions While experiences differ, invisible disabilities often fall into overlapping groups, including pain and fatigue conditions, neurological conditions, cognitive impairments, neurodevelopmental conditions and mental health conditions. Stigma and lack of awareness continue to hinder inclusion. Destigmatisation requires education, empathy and leadership modelling. Trauma-Informed Leadership Since COVID-19, trauma-informed leadership has gained prominence. This approach acknowledges that employees carry unseen emotional burdens, loss, financial stress, violence or systemic inequality, all of which influence behaviour and performance. The shift is from asking  ‘What’s wrong with you?’  to  ‘What happened to you?’ Trauma-informed leadership prioritises psychological safety, trust and empowerment. Embedding these principles into onboarding, performance management and policies is critical, particularly in South Africa, where historical and socioeconomic trauma remains pervasive. Episodic disabilities and the need for flexibility Some invisible disabilities are episodic, meaning symptoms fluctuate. Conditions like lupus may be manageable on some days and debilitating on others. Employees often hide these conditions for fear of being seen as unreliable. Yet silence prevents access to reasonable accommodation. Flexible arrangements can make an enormous difference: Remote or hybrid work options Flexible or adaptable schedules Adjusted deliverables during flare-ups Managers play a central role in creating the psychological safety needed for employees to disclose their needs. Navigating reasonable accommodation Employers sometimes struggle with balancing performance expectations and accommodation needs. However, with transparent communication and mutual respect, these challenges become manageable. Reasonable accommodation is not about lowering standards; it is about enabling employees to meet them in ways aligned with their health realities. When implemented effectively, it boosts engagement, performance and retention. From Inclusion to Disability Justice Modern wellbeing frameworks must evolve beyond compliance toward disability justice, an approach focused on equity, empowerment and collective access. This includes: Multiple mental health support avenues Employee assistance programmes Peer support networks Ongoing education and awareness initiatives Intersectionality is vital. Disability experiences are shaped by race, gender and socioeconomic status, particularly in South Africa’s unequal landscape. Access to mental healthcare remains uneven, especially in under-resourced communities. From individual accommodation to systemic inclusion Forward-thinking organisations are reframing wellbeing in several important ways: Equity over equality:   Not everyone needs the same support, people need what allows them to thrive. Universal design for wellbeing:  Policies should support everyone, not only those who disclose disabilities. Examples include mental health days, flexible schedules, sensory-friendly spaces and trauma-informed communication. Culture over compliance:  Legal compliance matters, but psychological safety matters more. Measure what matters:  Beyond absenteeism, organisations should track psychological safety, inclusion sentiment and uptake of flexible policies. Turning strategy into action Inclusive wellbeing frameworks begin with listening. Needs assessments should capture the experiences of employees with invisible disabilities. Policies must incorporate flexibility. Managers require training to identify challenges and understand neurodivergence. impact must be measured. A collective responsibility Normalising conversations around mental health and invisible disabilities is not the responsibility of HR alone. It requires leaders, managers and colleagues working together. Inclusive workplaces do not happen by chance. They are built through empathy, education and intentional design. The call to action is clear: Commit to creating environments where every employee, with a seen or unseen disability, has the support they need to thrive.  ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://iol.co.za/ios/news/2026-03-02-redefining-workplace-well-being-addressing-mental-health-and-invisible-disabilities/

The following rules apply when calculating Mandated Investments for under Statement 100 of the Amended General B-BBEE Codes of Good Practice :   "Mandated Investments means any investments made by or through any third party regulated by legislation on behalf of the actual owner of the funds, pursuant to a mandate given by the owner to a third party, which mandate is governed by that legislation. Some examples of domestic mandated investments and the portions of those investments subject to the Exclusion Principle  are contained in Annexe 100A attached to statement 100."   Furthermore, as per clause 3.7 of Statement 100 of the Amended Codes of Good Practice, the following is stated:   "3.7 Mandated Investments   3.7.1 When determining Ownership in a Measured Entity, Rights of Ownership of Mandated Investments may be excluded.   3.7.2 The maximum percentage of the Ownership of any Measured Entity that may be so excluded is 40%.   3.7.3 A Measured Entity electing not to exclude Mandated Investments when it is entitled to do so may either treat all of that Ownership as non-Black or obtain a competent person's report estimating the extent of Black rights of Ownership measurable in the Measured Entity and originating from that Mandated Investments.   3.7.4 A Measured Entity cannot selectively include or exclude Mandated Investments and therefore an election to exclude one Mandated Investment is an election to exclude all Mandated Investments and visa versa.   3.7.5 A Measured Entity applying the Exclusion Principle to Mandated Investments cannot benefit from the Modified Flow-Through Principle."   Ownership Services  are available to members with any queries relating to the Ownership Scorecard.

The SANAS Website  publishes information on all accredited B-BBEE Rating Agencies, which, apart from the contact details, includes:   o   The unique SANAS accreditation number; o   The date of SANAS accreditation and the expiry; o   The status of accreditation, which could include one of the following: Accredited | A B-BBEE Rating agency has successfully passed the SANAS accreditation process and applied to retain its status as a SANAS Accredited B-BBEE Rating Agency. Expired | When a B-BBEE Rating Agency has allowed its SANAS Accreditation to expire. Withdrawn | Where a B-BBEE Rating Agency either voluntarily or involuntarily withdraws its accreditation. Suspended | SANAS has issued a B-BBEE Rating Agency with a serious non-conformance/s regarding their B-BBEE Verification processes and procedures that needs to be addressed. A B-BBEE Rating Agency may retain its accreditation status depending on the result of actions implemented.   o   The scope of Accreditation, which is a certificate that states what B-BBEE Code of Good Practice they are accredited to measure. For example, there may be an accreditation allowing a B-BBEE Rating Agency to conduct a B-BBEE Verification on the General, Construction and Financial Services B-BBEE Codes of Good Practice. However, without specific accreditation, it would not be able to conduct a B-BBEE Verification on the Tourism B-BBEE Sector Codes of Good Practice.   Therefore, before choosing a B-BBEE Rating Agency, an organisation must check its Scope of Accreditation to ensure that it can conduct a B-BBEE Verification  on the relevant Sector Code of Good Practice. If a B-BBEE Rating Agency conducts a B-BBEE Verification on a Sector Code of Good Practice they are not accredited to measure, the B-BBEE Verification Certificate issued on this basis will be null and void.   B-BBEE Verification Services are available to advise Members in relation to this area.

Luke Fraser | 25 February 2026 Finance Minister Enoch Godongwana says South Africa is finally seeing a shift following over a decade of financial struggles, with debt now stabilising after 17 years. Speaking at the 2026 National Budget, Godongwana said that South Africa is starting to turn the corner. Over the last decade, South Africa has been decimated by state capture, credit downgrades, the Covid-19 pandemic and the grey listing by the Financial Action Task Force (FATF) in 2023. “Faced with this crisis, we chose not to be defined by it. Instead, we turned it into a catalyst for change,” said Godongwana. “We committed to a clear reform agenda and a disciplined fiscal strategy built on three principles: stabilise debt, invest in infrastructure and spend better.” He said that South Africa is now starting to see results, with debt set to stabilise for the first time in 17 years. Debt is now expected to fall in the coming years. The minister said that the budget deficit has narrowed significantly, and debt-service costs are also falling. There have been several key improvements, according to the Minister: South Africa has been removed from the FATF grey list. It secured our first credit rating upgrade in 16 years. Borrowing costs have eased, creating space for growth and development. The consolidated budget deficit has narrowed to 4.5 per cent of GDP for 2025/26, an improvement from 4.8 per cent that we estimated in the 2025 Budget. The deficit falls to 4% in 2026/27 and 3.1% the year after. He noted that gross debt stabilises as a share of GDP in 2025/26, at 78.9%. National Treasury said that the gross debt will then reach 77.3% of GDP in 2026/27 and decline to 76.5% by 2028/29. “The slightly higher debt peak this year reflects weaker nominal GDP growth and our decision to take advantage of strong investor demand in domestic and global markets by increasing issuance in 2025/26,” said the minister. The main budget primary surplus, which ignores income expense, stands at 0.9% of GDP for 2025/26. In the next financial year, the primary surplus is expected to reach 1.6%, and then 1.9% in 2027/28, and 2.3% by 2028/29. The minister added that the growth outlook is steadily improving. National Treasury expects real economic growth of 1.6% in 2026, which will beat its 1.4% estimation for 2025. “This improvement reflects the continued strengthening of economic performance from the second half of 2025,” said the minister. “Over the medium term, growth is expected to average 1.8 per cent, reaching 2 per cent by 2028.” Beats own estimates South Africa has also beaten its own tax goals for the 2025/26 financial year, with tax revenues revised upward by R21.3 billion. Godongwana said that South Africa’s tax system has demonstrated resilience amid slow economic growth. For 2025/26, the gross tax revenue was revised up by R21.3 billion compared to the initial 2025 Budget. This came off the back of higher-than-expected net VAT, corporate income tax and dividends tax collections, improving the in-year outlook. Despite the weak growth environment, South Africa has benefited from a commodity boom, particularly gold and platinum, which have recorded massive price increases over the last year. Following improved results, the government decided to withdraw the R20 billion in tax increases provisionally included in the May 2025 Budget. “The improving fiscal position allows us enough room to withdraw the proposed tax increases, without putting fiscal sustainability or economic activity at risk,” said the minister. Gross tax revenue is estimated to reach R2.01 trillion, which is R21.3 billion above 2025 Budget estimates. Over the medium-term expenditure framework, tax revenues are set to rise from R2.13 trillion in 2026/27 to R2.38 trillion in 2028/29, and the tax-to-GDP ratio will average 26.1% After two years with no inflationary relief, personal income tax brackets and medical tax credits will be fully adjusted for inflation. Other tax thresholds and limits are also adjusted for inflation. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://businesstech.co.za/news/budget-speech/852137/south-africa-is-turning-the-corner-for-the-first-time-in-17-years/

SA News | 25 February 2026 Transformation will not succeed unless all key stakeholders embrace it, defend it and implement it with conviction.   This is according to the Minister of Trade, Industry and Competition, Parks Tau. He was speaking during the historic engagement session between the Department of Trade, Industry and Competition and all 11 Broad-Based Black Economic Empowerment (B-BBEE) Sector Charter Councils in Pretoria on Tuesday. The session marked the first time that all Sector Charter Councils convened collectively with the custodian of the Broad-Based Black Economic Empowerment Act to assess progress, confront weaknesses, and chart a strengthened, outcomes-focused path for economic transformation in South Africa. Opening the session, the Minister described the engagement as a landmark moment for B-BBEE, noting that while progress has been recorded, the next phase of transformation must place sharper emphasis on impact, accountability and scale. Recent B-BBEE data presented during the session showed black ownership at approximately 29%, JSE-listed companies at 31% black ownership, black women ownership at around 12%, management control between 39% and 51%, and transaction values reaching approximately R600 billion. “These numbers reflect a policy that has made a significant impact in undoing the injustice of the apartheid economy. But transformation works when it is implemented. It fails when it is ignored or circumvented,” said Tau. He underscored that South Africa is at a decisive moment. “Crossroads are not places of collapse; they are places of choice. And now, choices must be made,” he said. A key outcome of the engagement was agreement on the need to move from a compliance-driven approach to an outcomes-based transformation framework. There was also a call to move beyond ticking boxes and focusing only on numbers. “We must ask what has actually changed in ownership, management, skills, enterprise growth and industrial capability,” said Tau. Discussions also focused on the effectiveness of skills development spending, with the Minister noting that over R100 billion had reportedly been spent on skills development over three years. “With that level of investment, we should not be facing the skills crises we see today. Sectors must demonstrate tangible skills outcomes rather than expenditure alone,” he said. The engagement concluded with consensus on a three-point action approach: addressing funding mechanisms, optimising implementation within the current legal framework, and reviewing institutional architecture where systems are not functioning effectively. “We are not here to create conflict. We are here to fix what is not working, strengthen what is working, and ensure that transformation remains central to South Africa’s economic trajectory,” he said. Tau confirmed that feedback from the engagement will be consolidated and presented to Cabinet as part of the ongoing review of the B-BBEE framework. Delegates further agreed that this engagement marked the beginning of a more structured and continuous platform between the government and Sector Charter Councils. “This is not the last engagement; it is the first in this format. If this country does not transform, none of us will succeed,” he said. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://www.sanews.gov.za/south-africa/transformation-will-succeed-if-all-defend-it-minister-tau

Jeanette Chabalala | 23 February 2026 Business tycoon Sandile Zungu says while control of the economy is firmly in the hands of a minority, 90% of black South Africans have no meaningful management or control of the economy. “It is a despicable situation. It is unacceptable. It has got to be challenged,” Zungu said in an interview with Sowetan editor Sibongakonke Shoba for the podcast show In the Know. According to Zungu, whites make up 10% or less of the population — a figure he says is dwindling — yet control of the economy is firmly in their hands. “The other side of the coin is that 90% of black South Africans, that includes Indians and Coloured South Africans, have no control of the economy. They have no meaningful management or control of the economy,” he said. Zungu was responding to questions on whether there should be changes to the government’s black economic empowerment policy. Zungu said as long as the demographics of SA were not finding expression in the economy, both in management and ownership, that was something that needed to be challenged. On the economy and how it should be revived, Zungu said unemployment had nothing to do with empowerment. That the economy was not transforming enough and not creating enough opportunities for youth employment had nothing to do with empowerment or with the narrow nature of transformation. “It’s very important to state that categorically. More often than not, out of desperate times, people eat this narrative hook, line and sinker that BEE has robbed the economy of an opportunity to create jobs. It’s a lie. It must be dismissed with the contempt that it deserves,” he said. He said empowerment laws must be enacted with the sole intention of hastening black participation. “Tweak them with the sole intention to hasten black participation at a mass scale because our social order, our political order which is stable, is at risk if the margins of the economy are littered with black souls and the centre of the economy is lily white, which is the current situation. It is unacceptable.” Zungu also said the government needed to do better, to work faster and persuade corporate SA to embrace change. He said the failure of the economy to create employment was, in large part, because of the macroeconomic choices the country has failed to make — or the macroeconomic choices that have been “disastrous”. “It could be attended to by a government that is prepared to confront the problems we have.” Zungu cited the sale of Iscor to ArcerlorMittal as an example of lost local control. He said ArcelorMittal SA was quickly absorbed into the parent company’s global supply chain, limiting what it could produce and leaving SA at a disadvantage. “We are far from the markets. Logistics of any supply chain dictate that unless we come up with massive incentives, why must things be made in the southern tip of the world?” he asked. “We were likely going to be a loser,” he said, adding that ArcerlorMittal was a shade of its former self. He added that job losses in towns such as Newcastle in KwaZulu-Natal and Vanderbijlpark in Gauteng have been disappointing. Zungu also said the sugar industry had suffered a massive disappointment over the years. “Government must make a choice and say: ‘I would rather protect those who are benefiting here and creating employment here, and beneficiating primary produce here, [turning] sugarcane into sugar, than protect those who want sugar to land here cheaply’.” ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://www.sowetan.co.za/news/2026-02-23-watch-90-of-black-south-africans-excluded-from-economic-control-zungu/

From time to time, the South African National Accreditation System (SANAS) publishes a list of B-BBEE Rating Agencies   that no longer have SANAS accreditation due to it being withdrawn voluntary or involuntary, or due to its expiry. The core aim of publishing the list is to assist those receiving B-BBEE Certificates in identifying invalid credentials.   This list will further assist B-BBEE Rating Agencies when verifying the element of Enterprise and Supplier Development. It is vital to take note of the date of withdrawal or expiry as a B-BBEE Certificate will remain valid for 12 Months if issued before the date that a B-BBEE Rating Agency lost its accreditation.   B-BBEE Certificates issued by SANAS Accredited B-BBEE Rating Agencies must contain the unique SANAS Accreditation Symbol to ensure that the B-BBEE Verification Certificate is valid.   B-BBEE Verification Services  are available to assist members to ensure that they understand the requirements for Valid B-BBEE Verification Certificates.

Based on the recent Draft Amendments to Statement 400 of the General B-BBEE Codes of Good Practice, the Introduction of a Needs Analysis for Enterprise & Supplier Development initiatives are very much welcomed.   Clause 4.15 of the Draft Amendments to Statement 400 of the General B-BBEE Codes of Good Practice states the following:   Measured Entities who selects to comply with Enterprise Development and Supplier Development as well as those partnering with the Transformation Fund are required to submit a needs analysis, performance metric (with outputs and outcomes such as turnover growth, job growth, increased access to local and international markets, increase in profitability, greater innovation), and an annual Monitoring and Evaluation report (to B-BBEE authorities, inclusive of the Verification Agency) to verify their contributions and impact to the beneficiaries to ensure compliance with the ESD objectives.   A Needs Analysis is a formal, systematic process to identify and evaluate an organisation's business needs. It is specific to an individual or group of employees, customers, or B-BBEE Beneficiaries. Deficiencies identified in the outcome of such an analysis are often referred to as ‘gaps’. In other words, the difference between what is currently done and what should be done.   A Needs Analysis is vital for rolling out a successful Enterprise Development or Supplier Development programme. The BEE Chamber has created a generic template that members can easily adapt to suit their circumstances.   Enterprise & Supplier Development Services   are available to assist members in creating a customised Needs Analysis template according to their gaps or needs.

Tasneem Bulbulia | 19 February 2026 The Competition Tribunal has confirmed, as an order, a consent agreement between the Competition Commission and Wilmar SA (formerly Wilmar Continental Edible Oils and Fats). Although it has agreed to enter into a consent agreement and pay a settlement amount of R1-million among other requirements, Wilmar denies having contravened the Competition Act. In December 2016, the commission initiated a complaint against Wilmar and other firms for alleged price-fixing and/or fixing of trading conditions in contravention of the Competition Act. The commission later added allegations of market division against Wilmar and another firm under the Act. The commission and Wilmar have agreed that settlement is a pragmatic resolution to their longstanding disputes. In addition to paying the settlement amount, Wilmar has undertaken a range of public interest and compliance commitments. These include an investment of R49.5-million over five years in several public interest initiatives, outlined below. The education initiative will comprise a combination of learnerships, apprenticeships and bursaries to historically disadvantaged persons and/or otherwise underprivileged candidates. Funding under the education initiative shall be limited to post-school education and training and shall not include primary education. For the school infrastructure development initiative, a specified amount shall be specifically allocated for the eradication of pit latrines at rural schools; and other school infrastructure projects including the construction of new schools and the refurbishment and re-equipment of existing schools. Another initiative, the enterprise and supplier development fund, will be applied towards business incubation initiatives, including the provision of capital to support the establishment and expansion of small, medium-sized and microenterprises and businesses. Beneficiaries of this fund shall be integrated into Wilmar's supply chain and shall receive a guaranteed commercial engagement with Wilmar for a certain specified minimum period. In addition to financial support, the initiative shall provide a comprehensive suite of developmental interventions, including but not limited to structured mentorship, regulatory compliance training and IT enablement. Wilmar has also committed to foreign direct investment, which includes establishing a new rice packaging plant, among others. Meanwhile, in terms of the consent agreement, Wilmar agrees and undertakes not to engage in any anti-competitive conduct that is in contravention of the Act. It will also develop, implement and monitor a competition law compliance programme as part of its corporate governance policy, which is designed to ensure that all employees, management and other functionaries do not engage in conduct that is in contravention of the Act. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://www.engineeringnews.co.za/article/tribunal-confirms-settlement-between-commission-wilmar-2026-02-19

Staff Writer | 22 February 2026 President Cyril Ramaphosa has doubled down on Black Economic Empowerment in South Africa, saying that instead of loosening the laws or heeding calls to abolish them, the country should lean into taking them further. Responding to the debate on his State of the Nation Address last week, the president chided political parties, including those within the Government of National Unity (GNU), for wanting to scrap the laws. He insisted that broad-based BEE (BBBEE) had been fundamental to improving the lives of black people in South Africa, reducing inequality and reversing the injustices of the past. BEE critics have long argued that the laws have only worked for a select few—typically those connected to the once-majority ANC and its control over government contracts—while leaving the vast majority of the population in poverty. BEE proponents, meanwhile, have often cited the yawning gap between black and white wealth in South Africa as evidence of why race-based laws are necessary to make the playing field more equal. However, this same point has been used in response to show exactly why BEE does not work, as the inequalities persist despite the government’s very direct interventions. In his response, Ramaphosa addressed these points directly, noting that between 2006 and 2023, black African households experienced real income growth of 46%, coloured households 29 % and Indian households 19%. This disproves the “myth” that BEE has only worked for the few. “It is no accident that the level of poverty in the black African population fell from 67% in 2006 to 44% in 2023,” he said. “Nor is it any accident that the level of poverty in the coloured population fell from 43% to 25% in the same period.” However, he said that, despite this progress, the average income of white households is still nearly five times higher than that of black African households. “This is the gulf we must close through deliberate and sustained efforts to expand opportunity. Now is not the time to abandon BEE. Now is the time to make it more effective,” he said. Reviewing BEE laws Ramaphosa said that South Africans should stop seeing BBBEE as a cost to the economy, but rather an opportunity for sustainable growth. “That is why I announced in the State of the Nation Address that we are undertaking a review of our Broad-Based Black Economic Empowerment framework to ensure that it supports greater transformation and inclusive growth,” he said. The government has launched several initiatives over the past year that have taken different approaches to BEE—some extremely interventionist, others more flexible. On the interventionist side, the Department of Employment and Labour has forged ahead with new racial Employment Equity targets across 18 sectors in South Africa. These targets, characterised as racial quotas by critics and “flexible goals” by the government, require businesses with over 50 employees to file five-year plans to ensure their workforces reflect the country’s demographics. While the laws allow for exemptions and deviations, companies have to racially profile their workforces and ensure they meet percentage-based targets by 2030, or face steep fines and penalties. On the more flexible side, the government has shown a willingness to waive strict BEE compliance measures on ownership requirements to attract foreign companies and investment. This is particularly in the telecommunications and mining space—though not without controversy and pushback from both sides of the BEE debate. The Department of Trade and Industry is also in the process of setting up a R100 billion fund for black businesses, with the latest iteration offering BEE points to companies that contribute. Under the proposal, companies that contribute 3% of their net income to a so-called Transformation Fund will earn double the points currently available for a scorecard that measures businesses’ support for greater economic inclusion. The increased number of points will improve companies’ access to government and corporate procurement. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://businesstech.co.za/news/government/851722/ramaphosa-doubles-down-on-more-bee-in-south-africa/

Pieter Steyn | 17 February 2026 The Codes set out the methodology for calculating a firm’s BBBEE rating.  Significant changes have been proposed to cater for the proposed new Transformation Fund and changes to the BBBEE procurement scorecard. While not yet binding and still open for public comment, the proposed changes indicate Government policy and have important potential implications for business in South Africa . On 29 January 2026, proposed changes to the Codes were published for public comment by the Minister of Trade, Industry and Competition in the Government Gazette.  A minimum 60 day period is required for public comment in terms of the Broad-Based Black Economic Empowerment Act. The proposed Transformation Fund was first announced by the Minister in January 2025 and a draft Concept Document was issued for public comment in March 2025.  The Fund’s purpose is to support firms owned and controlled by “Black People” as defined in the Act.  Details however remain unclear but a website (http://sa-transformationfund.co.za) is operational and indicates that the Fund will be managed by a separate Special Purpose Vehicle (SPV) whose board will be appointed by the Minister.  An “Oversight Committee” will consist of representatives from both the public and private sectors. The Fund represents an important policy shift by Government away from incentivising private sector driven initiatives towards a State driven process. The proposed changes to the Codes introduce contributions to the Fund as an alternative to Enterprise Development (“ED“) and Supplier Development (“SD“).  A firm will currently score 5 points if it spends 1% of its annual Net Profit After Tax (“NPAT“) on ED and 10 points if it spends 2% of its NPAT on SD.  The proposed changes provide that a firm will score 20 points if it contributes 3% of its NPAT to the Fund. Points will be prorated to the extent that the NPAT targets are not met and a firm which does not score a minimum 40% of the total points for ED/SD or Fund contributions will have its BBBEE rating discounted by one level. It is important to note that a firm must choose between ED/SD or contributing to the Fund.  It cannot do both. This means that a firm’s existing ED/SD initiatives will likely be terminated if it decides to contribute to the Fund.  The proposed changes to the Codes do not contemplate a phasing out period for existing ED/SD initiatives by firms who choose to contribute to the Fund. The termination of existing ED/SD initiatives will negatively affect existing ED/SD beneficiaries and have potential legal and other commercial consequences for both the firm and beneficiaries.  These consequences will have to be assessed by each firm. Only 5 additional points will be scored if a firm meets the 3% NPAT target for Fund contributions.  A key consideration for a firm in deciding whether or not to contribute to the Fund will be whether the additional points scored will materially enhance its BBBEE rating. The Fund’s website states that contributions to the Fund will be “mostly tax-exempt under section 56(1)(h) of the Income Tax Act” and that donors may claim a deduction under section 18A of the Income Tax Act.  Tax benefits may be an incentive for firms to contribute to the Fund but each firm will need to assess this and more clarity is required on any such tax benefits. The website also states that firms will be required to sign a “Participation Agreement” with the Fund.  A template of such agreement is not yet provided and it is not clear if it will simply record the payment of the contribution or impose other obligations. This will be a material factor and needs to be clarified. The proposed changes to the Codes also involve significant changes to procurement and supplier targets. The existing available 27 points for preferential procurement have been reallocated by introducing the following new categories – 100% black owned Qualifying Small Enterprises (“QSEs“) with a 15% procurement target for 2 points 100% black owned Exempted Micro-Enterprises (“EMEs“) with a 15% procurement target for 2 points 100% black owned suppliers with a 25% procurement target for 7 points 100% black women owned suppliers with a 12% procurement target for 3 points The existing 2 bonus points will only be scored if a firm meets a 100% procurement target from suppliers 100% owned by Designated Groups (defined as certain unemployed Black people, Black youth, disabled Black people, Black people living in rural/undeveloped areas and Black military veterans).  Currently the 2 bonus points are scored if a firm meets a 2% procurement target from suppliers at least 51% owned by Designated Groups. These changes represent a significant challenge for firms to score procurement points especially as a failure to score the minimum 40% target will result in an automatic downgrade of a firm’s BBBEE rating. The 100% threshold requirement seems too high (for example procurement from a 99.99% Black owned firm would not qualify).  Furthermore the thresholds for defining EMEs and QSE’s remain at 2013 levels (R10 million and R50 million annual revenue respectively) and are long overdue for an increase. Amendments have also been proposed to the Codes dealing with QSEs and Equity Equivalent programs to provide for the option of making contributions to the Fund and changing the procurement and supplier targets for QSEs. It is important to note that the current proposed changes only relate to the so called “Generic” Codes.  Codes of Good Practice for specific sectors of the economy (including the Agriculture, Chartered Accountancy, Construction , Financial , Information and Communication Technology (ICT), Forestry, Property, Tourism and Transport sectors) are not affected and remain in place for firms operating in those sectors.  This means that firms covered by Sector Codes will not score points from contributions to the Fund and their procurement scores will not be affected by the proposed changes unless and until the Sector Codes are updated to accord with the changes. The proposed changes are not final or binding and the public commentary period has not yet expired.  The final Codes may differ from the changes proposed on 29 January 2026.  Given the important implications of the proposed changes, business and the public should  consider submitting comments to the Minister and any final changes to the Codes must be carefully assessed. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://www.polity.org.za/article/unpacking-the-significant-proposed-changes-to-the-generic-codes-of-good-practice-codes-on-broad-based-black-economic-empowerment-bbbee-2026-02-17