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Eunéne Levine | 30 September 2025 A strategic analysis of South Africa's National Entrepreneurship Strategy (NES), proposing collaborative public–private partnerships to bridge skills gaps and foster sustainable entrepreneurial ecosystem development. 1. Executive summary: From blueprint to shared success The draft National Entrepreneurship Strategy represents a critical and timely policy intervention aimed at leveraging entrepreneurship to address South Africa's persistent challenges of youth unemployment and economic stagnation. The strategy correctly identifies skills development as a foundational pillar for fostering a vibrant entrepreneurial culture and enhancing the sustainability of micro, small, and medium enterprises (MSMEs). The central thesis of this analysis is that while the NES provides a conceptually sound and welcome blueprint, its successful implementation requires a collaborative, ecosystem-wide approach to overcome deep-seated, systemic challenges. This paper explores those challenges and proposes a framework for public-private partnership to ensure the strategy's success. The analysis finds that the skills gap in South Africa stems from a significant methodological gap between policy and implementation. The formal education and training system, as currently constituted, exhibits a disconnect between its outputs and the practical, real-world demands of a dynamic economy. This is compounded by challenges in institutional coordination, data intelligence, and a pedagogical approach that often prioritises theory over application. Furthermore, the report finds that skills, while necessary, are not a sufficient condition for entrepreneurial success. A skilled entrepreneur's potential can be constrained by a challenging operating environment characterised by infrastructural limitations, constrained access to finance, and a complex regulatory framework. These challenges are best addressed through a spirit of genuine collaboration between the state and key private sector stakeholders, a partnership the NES rightly seeks to foster. In conclusion, the path forward lies in evolving from a mandate for skills development to a pragmatic, action-oriented strategy that prioritises genuine public-private partnership, a significant enhancement of entrepreneurial education pedagogy, and a simultaneous, high-impact focus on all five pillars of the NES. The strategy's ultimate success will be determined not by the elegance of its design, but by the robustness of its collaborative implementation in the face of long-standing systemic friction. 2. Introduction: Contextualising the national imperative South Africa is grappling with one of the world's most significant youth unemployment challenges. The unemployment rate for young people aged 15–34 was estimated at 60.8% in 2024, up from 38.2% in 2018. This demographic group constitutes nearly one-third of the nation's population, making their economic inclusion a central pillar for social and economic stability. This situation is further compounded by a pronounced skills gap; over 60% of South African companies identify skills shortages as a key barrier to business transformation by 2030, a phenomenon described as a "misalignment between the skills South African employers demand, and the skills our young people possess". The small business sector, widely regarded as a potential engine for job creation, is characterised by low survival rates and stagnant growth, creating far too few economic and employment opportunities to absorb the millions of unemployed citizens. In response to this national imperative, Cabinet approved the publication of the draft National Entrepreneurship Strategy (NES) and its Implementation Plan in mid-September 2025. The strategy is positioned as a visionary blueprint to enhance the involvement of young people and historically disadvantaged businesses in the economy by promoting entrepreneurship and ensuring the sustainability of micro, small, and medium enterprises (MSMEs). This policy is not a new beginning, but rather the third iteration of a national small enterprise development strategy, building on the foundation of the 1995 White Paper and the subsequent Integrated Strategy for Entrepreneurship and Small Enterprises (ISPESE). The NES is designed to be a strategic roadmap that integrates the work of other key departments and partners, aiming to coordinate the entire ecosystem for entrepreneurship development in the country. This report offers a constructive examination of the NES, with a particular focus on its skills dimension. The purpose is to move beyond a descriptive summary and provide a rigorous, evidence-based analysis of how the proposed framework can be collectively strengthened to genuinely transform the national skills landscape and, by extension, the economic prospects of South Africa's youth. 3. The Policy Framework: A Blueprint for Skills and Ecosystem Reform The NES is a multifaceted policy framework structured around five key pillars, with "Enhancing entrepreneurship education and skills development" occupying the first position. The strategy explicitly recommends that entrepreneurship be incorporated into the curricula of the departments of Basic and Higher Education as a "viable career choice". This proposal is not a radical departure from existing policy but rather an amplification of a pre-existing mandate. The Department of Basic Education has already been pursuing a Sector Plan for Entrepreneurship Education in Schools: 2030, and its E3 (Entrepreneurship, Employability and Education) initiative, launched in 2018, has been piloting project-based learning methodologies in schools to cultivate an entrepreneurial mindset among learners. The E3 initiative's ambitious objective is to have 100% of learners develop the necessary skills, knowledge, and solution-oriented mindsets to complete school, study further, gain employment, or start their own enterprises by 2030. The NES is conceived not as a standalone policy but as a coordinating instrument designed to harmonise government efforts with private sector stakeholders. It is intended to align with and add value to other major national plans, including the National Integrated Small Enterprise Development (NISED) Masterplan, the National Development Plan (NDP), and the Economic Reconstruction and Recovery Plan (ERRP). The Department of Small Business Development's Annual Performance Plan for 2024-25 explicitly lists the implementation of the recently developed National Entrepreneurship Strategy as a key objective, with a commitment to support 10,000 youth-owned enterprises within that financial year. A critical feature of the NES is its recognition of the complex, systemic nature of entrepreneurship development. While the skills pillar is central, it is presented alongside four other equally vital areas: facilitating technology exchange and innovation; improving access to finance and markets; optimising the business regulatory environment; and promoting awareness and networking. This holistic approach acknowledges that a skilled entrepreneur is only one component of a successful ecosystem, and that an entrepreneur's ability to thrive is dependent on a supportive and collaborative environment. 4. A system under strain: The gap between policy and reality While the NES presents a compelling vision, an analysis of the existing landscape reveals a significant gap between policy intent and practical outcomes. South Africa's education system, despite a curriculum that aims to equip learners with the knowledge and skills for self-fulfilment and meaningful societal participation, has not yet consistently produced a workforce with the competencies required by the economy. The National Curriculum Statement Grades R-12 already espouses principles such as "high knowledge and high skills" and "active and critical learning". Yet, research indicates that the current approach to entrepreneurship education (EE) is not yet yielding the desired effect of producing "business-minded youth". The core of this challenge lies not in the absence of an entrepreneurship curriculum, but in the methodology of its delivery. Entrepreneurship is currently fragmented and incorporated into existing subjects such as Life Skills and Economic Management Sciences, rather than being a standalone subject with dedicated pedagogical focus. This diluted approach appears to be a significant factor behind the prevailing skills gap. The data reveals a clear and critical leverage point for intervention: 96% of teachers cite a lack of training as a major impediment to the effective implementation of entrepreneurship education. This presents a significant opportunity for targeted public-private partnerships to provide the necessary training and support to our educators, directly empowering them to deliver on the NES's goals. Even with a policy mandate from the highest levels of government, the frontline implementers require enhanced capacity, knowledge, and support to translate that mandate into tangible results. The need for greater commitment from business people to support schools with entrepreneurship skills further highlights an opportunity to build a more cohesive and supportive ecosystem that extends beyond the state. The skills planning system itself is hampered by challenges in data accuracy and coordination that contribute to the chronic skills mismatch. While the Skills Development Act (SDA) provides an institutional framework to develop and improve the skills of the South African workforce, the system's effectiveness is impacted by these data challenges. Academic analysis points to the complexities of the Sector Education and Training Authorities (SETAs), noting that the process is "too complex" and affected by "poor data coming from employers". This can lead to a situation where skills development funding is not optimally directed. The absence of a standardised, empirical approach to labour market research means the system is essentially operating with limited visibility, unable to always accurately identify and respond to real industry demand. The NES's aim to "coordinate the ecosystem" can therefore be powerfully advanced through a collaborative reform of the fundamental data collection and analysis mechanisms that underpin the entire skills development landscape. Without this, any new strategy, regardless of how well-intentioned, will be built on a foundation of incomplete intelligence. 5. Beyond the formal curriculum: The ecosystem of shared challenges The National Entrepreneurship Strategy correctly acknowledges that skills development is only one of five critical pillars for fostering a vibrant entrepreneurial ecosystem. This recognition is vital, as a skilled entrepreneur, no matter how capable, operates within a challenging operating environment requiring collective action. The success of the skills pillar is therefore inextricably linked to our collective progress on the other four pillars. A skilled entrepreneur's journey can be impacted by persistent financial, infrastructural, and regulatory hurdles. Access to finance remains a significant barrier, with only one in five SMEs reportedly able to secure the funding they need to grow their businesses. Traditional lending practices, which often rely on collateral and rigid credit scoring systems, can financially exclude the "missing middle" of small and early-stage enterprises. Furthermore, a significant portion of entrepreneurial energy and resources is diverted to navigating the operating environment. The South African economy faces external factors such as energy disruptions (loadshedding), water shortages, and supply chain bottlenecks. The case studies of entrepreneurs who have pivoted their businesses to supply backup power solutions in response to loadshedding illustrate a diversion of entrepreneurial effort from innovation and growth to a primary focus on business continuity and resilience. The NES's promise to foster an "enabling environment" presents an opportunity for public and private sectors to collaborate on addressing these foundational challenges with shared urgency. On a deeper level, the regulatory environment itself is perceived by some in the private sector as an obstacle to growth. The Centre for Development and Enterprise (CDE) has argued that some government interventions, rather than fostering a dynamic small business sector, have made it more difficult for enterprises to survive and expand. This sentiment is underscored by Business Unity South Africa (BUSA), which initiated legal action against the state over what it deemed "unworkable" Employment Equity Sector Targets. The business community's expressed frustration with a perceived lack of "meaningful consultation" points to a trust deficit that can be bridged through the collaborative partnerships the NES requires to succeed. The strategy's pillars are not independent components; they are a system of interdependencies. A collective failure to make progress on one pillar, such as regulatory reform or access to finance, will limit the potential of the others, including skills development. 6. Bridging the gap: Lessons from effective interventions Despite the systemic challenges, evidence from the private and non-profit sectors provides a clear roadmap for effective skills training and development. These successful interventions demonstrate that a practical, hands-on, and outcome-oriented approach can yield tangible and measurable results. The PwC Faranani Rural Women Training Initiative, for instance, focuses on providing highly practical business management skills, including the ability to draft a business plan, understand financial concepts like costing and break-even analysis, and implement effective marketing strategies. The outcomes of this initiative are compelling: 68% of its graduates have reported an increase in business profitability, with one participant successfully increasing her revenue by 20% on a consistent monthly basis. The UNIDO Entrepreneurship Curriculum Programme (ECP) similarly demonstrates the power of practicality. Its curriculum is "action-oriented," with more than 50% of the program's time dedicated to practical research, such as identifying business opportunities and learning from successful entrepreneurs directly. This approach stands in stark contrast to the fragmented, theory-heavy curriculum currently in place in much of South Africa's basic education system. A study on the teaching methods for entrepreneurship in South African universities reinforces this perspective, highlighting that the most effective pedagogy includes "business plan development" and practical, experience-based learning. 7. The path forward: A call for ecosystem collaboration Overcoming the systemic challenges facing South Africa's entrepreneurial landscape is not the sole responsibility of the government but requires a concerted, collaborative effort from all stakeholders. The National Entrepreneurship Strategy provides the ideal framework for such a partnership. The private sector, with its deep industry knowledge and practical expertise, is uniquely positioned to support the NES and help bridge the gap between policy and real-world outcomes. This can be achieved through concrete Public-Private Partnership (PPP) models focused on high-impact areas. One of the most critical areas for collaboration is in curriculum co-creation. Organisations with proven track records in practical entrepreneurship training can partner with the Department of Basic Education to co-design and pilot hands-on, action-oriented entrepreneurship modules. These modules, grounded in real-world business principles, can be integrated into the national curriculum to provide learners with the practical skills they need to succeed. Another high-impact opportunity lies in teacher training. The private sector can play a pivotal role in addressing the training gap identified among educators by funding and facilitating specialised teacher training programs. Led by experienced entrepreneurs and business educators, these programs can equip teachers with the confidence and competence to deliver the new, practical entrepreneurship curriculum effectively. Finally, a national mentorship network can be established, powered by private sector volunteers. By connecting experienced business leaders with aspiring young entrepreneurs, we can provide the guidance, support, and network access that is so crucial for early-stage business survival and growth. At Shaper, we are committed to being an active partner in this national endeavour. We stand ready to share our expertise in curriculum design, teacher training, and mentorship to help realise the ambitious and vital goals of the NES. We believe that through genuine collaboration, we can collectively build a vibrant and inclusive entrepreneurial ecosystem for all South Africans. 8. Conclusion: From blueprint to shared success The National Entrepreneurship Strategy is a vital and well-conceived blueprint for unlocking South Africa's economic potential. Its success, however, is not pre-ordained. It requires a fundamental shift from a top-down, policy-driven approach to a collaborative, ecosystem-wide movement. The challenges of skills mismatches, pedagogical gaps, and a difficult operating environment are not insurmountable, but they are too complex for any single entity to solve alone. The path forward lies in a pragmatic, action-oriented strategy that prioritises genuine public-private partnership. By co-creating curricula, investing in teacher training, and building robust mentorship networks, we can transform the educational landscape. By working together to streamline regulations, improve access to finance, and stabilise our infrastructure, we can create an environment where entrepreneurs can thrive. The NES provides the architect's plan. It is now up to all of us – government, the private sector, civil society, and individual entrepreneurs – to collectively build the scaffold that will turn this vision into a lasting reality. Shaper is ready to play its part in this crucial national project, and we invite our partners across the ecosystem to join us in building a more prosperous and entrepreneurial future for South Africa. ‘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.bizcommunity.com/article/the-architect-and-the-scaffold-a-collaborative-pathway-to-sas-national-entrepreneurship-strategy-409659a

CIPS | 30 September 2025 Chartered Institute for Procurement & Supply Southern Africa says sustainability is about reducing carbon and delivering economic parity. Business News - As global pressure mounts for businesses to embrace environmental, social and governance (ESG) principles in their operations, South Africa has a unique opportunity to lead the way globally by aligning ESG commitments with B-BBEE transformation. This is the view of Paul Vos, Regional Managing Director of the Chartered Institute for Procurement & Supply (CIPS) Southern Africa. “Where other countries focus mainly on environmental issues, we can use procurement to build greener and more inclusive supply chains, supporting black-owned SMEs while meeting global climate targets.” According to the B-BBBEE Commission’s “Analysis of Major B-BBEE Transactions” report for 2023/24, black ownership decreased to 57% in FY2023/24, down from 59% the previous year. However, black women ownership significantly increased from 20% to 37%, showing progress in gender inclusivity. At the same time, South Africa’s ESG response is gaining momentum. Many listed companies are already reporting against international standards and exporters are preparing for stringent European carbon rules. The Sanlam ESG Barometer 2024 shows that 40% of respondent companies in South Africa make use of the Taskforce on Climate-related Financial Disclosures and 33% the Carbon Disclosure Project reporting frameworks, both encouraged by the Johannesburg Stock Exchange and the South African Reserve Bank. What sets South Africa apart, Vos says, is the intersection of ESG and B-BBEE. “Sustainability in South Africa is not just about reducing carbon. It’s also about economic justice – developing local suppliers and bringing black-owned businesses into value chains. When you align these goals, you don’t just tick boxes, you create real impact.” Despite the progress that is being made, South African businesses face real challenges in implementing sustainable procurement. Many SMEs lack the systems and resources to comply with ESG requirements while reliable data on supplier environmental and social impacts remains limited. Furthermore, sustainability investments, such as renewable energy or waste reduction systems, require capital that not all suppliers can afford. Evolving regulations around carbon taxes, producer responsibility and public procurement create added complexity. However, far from being a cost, sustainable procurement is increasingly seen as an investment in business resilience. “Forward-thinking companies are already seeing the returns,” Vos says. “Whether it’s cutting electricity bills through solar power, attracting ESG-conscious consumers, or retaining access to global markets, the benefits are clear.” CIPS highlights South African leaders such as Shoprite, Woolworths, Anglo American and Nedbank for pioneering eco-conscious strategies, from renewable energy rollouts to responsible financing and circular economy initiatives. Looking ahead, CIPS predicts several key trends will define procurement across Southern Africa: Carbon becoming a standard line item in contracts. Greater adoption of circular economy principles – reuse, recycling and waste minimisation. Growing convergence between ESG and B-BBEE goals. AI tools being deployed to enhance transparency and flag sustainability risks. Vos says CIPS is committed to playing a central role in accelerating this shift. “Our mission is to ensure procurement delivers the triple bottom line – people, planet and profit – through a single, strategic approach. We’re equipping professionals with the skills they need, bringing government and business together, and sharing practical tools so that companies can move from talking to doing.” With sustainability and inclusivity no longer separate agendas, CIPS urges South African businesses to act now to make procurement the engine of a more equitable, low-carbon economy. ‘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.knysnaplettherald.com/News/Article/Business/businesses-urged-to-align-esg-and-b-bbee-for-sustainable-procurement-success-202509290310

SA News | 28 September 2025 Tourism Minister Patricia de Lille says South Africa’s tourism sector is not a “side story” but central to the country’s economic policy, driving jobs, transformation and sustainable growth. Speaking at the World Tourism Day 2025 celebrations held at Constitution Hill’s People’s Park in Braamfontein on Saturday, De Lille highlighted the sector’s contribution to the economy and new initiatives to boost arrivals and domestic travel. “It is a profound honour to celebrate World Tourism Day 2025 here at Constitution Hill People’s Park. This is not just a venue, but a place of memory and freedom. A reminder that democracy is not only about the rights we enjoy, but about the opportunities we create,” she said. The Minister announced that the Department of Tourism has invested in the site’s development. The Department has allocated R12 million to the development of the park.  She said the Constitution Hill Precinct Development Plan designates the park as homage to the Constitutional Court in much the same way as the gardens in front of the Union Buildings.  De Lille stressed the year’s global theme: "Tourism and Sustainable Transformation", as a call for inclusive growth.  “Today, we gather to affirm a truth that grows clearer each day: tourism is not a side story, tourism is economic policy. It is a driver of jobs, of pride, and of transformation that is sustainable, inclusive, and unstoppable,” she said.  She said sustainability must translate into real benefits.  “Sustainable transformation means that tourism’s benefits must be shared widely. From our villages and townships to our metros and coastal hubs. It means that as we grow, we safeguard the treasures that define us: our land, our heritage, and our culture. This transformation is not abstract. “It is visible when a family-owned guesthouse in Bizana is fully booked, when walking tours by a young entrepreneur in Mamelodi tell our stories with pride and when a small café in Mpumalanga becomes a must-visit stop.  “This is how tourism builds not only an economy, but a nation. South Africans are rediscovering the joy of being tourists in their own land,” the Minister said.  Tourism’s economic footprint According to De Lille, domestic and international tourism continued to grow strongly in 2025. “This year during our Sho’t Left Travel Week we had 650 deals. Between January and June 2025, domestic trips increased by 14,8%, with 3.8 million holiday trips recorded contributing R15,4 billion to the GDP. During that same period, we welcomed 5 million international visitors, who spent R48,7billion. These arrivals through our port of entries mark a 12% increase. “In July 2025, we welcomed over 880 000 international visitors, a 26% increase compared to the same month last year. These figures are set to increase with the roll out of the Electronic Travel Authorisation (ETA),” she said.  The ETA system, which will go live in October, is expected to significantly boost arrivals.  “The ETA which goes live next month in a phased approach, is set to increase international arrivals by 1 million creating between 80 000 to 100 000 jobs. This will add on to the 1,8 million jobs the sector is already sustaining while contributing 8.8% to South Africa’s GDP,” De Lille said. Investments and innovation De Lille also confirmed that major international events would continue to showcase South Africa.  “Next year, South Africa will host the LIV Golf right here in Gauteng’s Steyn City and in 2027 we host the ICC Cricket World Cup. These are sporting events that translate into jobs and livelihoods,” she said.  She highlighted the Tourism Investment Summit as another milestone, where eight infrastructure projects worth nearly R1 billion were unveiled.  “The summit has been impactful with growing interest being expressed. We continue to grow the pipeline of bankable projects, which will be presented at the next year’s investment summit,” the Minister said.  De Lille also noted that young people are designing the future of tourism. This month the winners of the inaugural Tourism Hackathon were crowned. Students from 21 Higher education institutions competed to make travel experience more memorable through AI solutions.  The Minister added that projects such as the Kgodumodumo Dinosaur Interpretation Centre at SanPark’s Golden Gate had already attracted 50,000 visitors since its launch in June. Call to action De Lille called on South Africans to embrace tourism as a driver of national pride and transformation. “Friends, on this World Tourism Day, let us raise our voices with pride: We are building a tourism sector that is not just bigger, but better. Not just profitable, but inclusive. Not just competitive, but sustainable. “Here at Constitution Hill, the home of freedom and resilience, we declare that tourism is economic policy, tourism is transformation, tourism is our future,” the Minister said.  De Lille’s World Tourism Day programme concluded with a walking tour of Johannesburg’s inner city and a visit to the Soweto Expo, which she described as “live entertainment, unique hand-crafted products and an opportunity to mingle with the entrepreneurs who make tourism tick.” “Remember, every photo shared, every review posted, every memory made here tells the world: this is a country where transformation is real, and joy is everywhere,” she 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/tourism-economic-policy-not-just-leisure-de-lille

Georgia Collins | 28 September 2025 At P&G, technology supports D/deaf and hard-of-hearing staff with live captions, transcription, visual alerts and ChatPG, building inclusive workplaces. Procter & Gamble's (P&G) commitment to sustainability and innovation extends into creating an inclusive work culture. Virginie Helias, Chief Sustainability Officer at  Procter & Gamble (P&G) , says: "We are committed to improving people's lives with innovation that delivers irresistible performance and is more sustainable." This policy of advancement isn't restricted to products alone, but also embraces workplace inclusivity. P&G actively works towards promoting a culture that is inclusive not only for its consumer base but also for D/deaf and hard-of-hearing members of its workforce, enabling all employees to contribute to the company's success. Fostering an environment where such communities can thrive is key to sparking innovation throughout the organisation. Adapting workplace facilities and technologies Central to P&G's mission is the creation of workplaces equipped to support a Disability Confident culture. This involves building adaptive environments  and providing accessible accommodations such as sign language signage, captioning on training videos and visual alert systems. An embodiment of this commitment is the IT Accessibility Hub situated in P&G's Geneva Business Centre, inaugurated in 2024. The facility serves as a resource centre, providing adaptive technologies to meet diverse employee needs effectively. By integrating these technologies, P&G ensures that D/deaf and hard-of-hearing employees, along with others, can reach their full potential. Ranked fourth in Sustainability Magazine's Top 250 Most Sustainable Companies report in 2025, P&G continues to lead by example in sustainability and inclusivity. Innovative communication tools in manufacturing Ensuring effective communication is pivotal in manufacturing settings where collaboration and coordination are essential. P&G utilises accessible communication tools and emerging technologies, like glasses with built-in captions and voice-to-text applications, to remove barriers for D/deaf and hard-of-hearing employees. These tools promote seamless interaction, diminishing the reliance on interpreters and encouraging more direct engagement among staff. “For a long time, I needed a sign language interpreter,” says Scott Van Nice, a Deaf Privacy & Responsible AI Project Manager in P&G's Global Business Services organisation. “I still do in many respects. But P&G has given me and many of my D/deaf and hard-of-hearing colleagues the confidence to be able to perform without an interpreter due to the many accessibility solutions available.” The adoption of internal tools like P&G’s generative AI, ChatPG, complements these efforts by aiding tasks such as summarising meeting notes, which further assists employees in maintaining efficiency and productivity. Community support and business success Central to P&G's ethos are its Disability Employee Support Groups. These groups are essential in providing a platform for connection and support. They empower disabled employees and their allies to feel valued and increase their unique contributions to the business. Effective support systems championed by individual managers and teams ensure that D/deaf and hard-of-hearing employees are equipped with the tools and confidence needed to succeed. In a manufacturing environment, where noise is prevalent, having an understanding and supportive team can greatly impact the experience of workers like Kayley Judd, a Deaf Fabric Care Packaging Engineer at P&G’s Lima, Ohio plant. She says: “The manufacturing environment  is not exactly quiet, but my team at the Lima plant has been incredibly supportive, clarifying anything I missed or did not understand, and invested in getting the tools that will help me succeed. "Because it can be intimidating in a manufacturing setting, having avenues of tools ready makes a world of difference.” Through these efforts, P&G not only enriches the work culture for its employees but also fuels innovation that leads to creating more accessible products and authentic representation in advertising, inherently benefiting the company's brand and consumer relations. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://manufacturingdigital.com/news/how-p-g-leverages-technology-to-support-deaf-communities

Thabo Makwakwa | 28 September 2025 The US government has revealed that South Africa remains a key gateway for investment in Sub-Saharan Africa, leveraging what is widely regarded as the region’s most advanced and industrialised economy.  Despite significant challenges, including a fraught political environment and persistent economic obstacles, the country’s relatively stable institutions and mature financial markets make it an attractive destination for foreign investors. A recent report by the US Department of State, “2025 Investment Climate Statements: South Africa,” highlights these strengths and the challenges investors face navigating this dynamic market.  The report states, “Its relatively stable institutions, independent judiciary, and robust legal framework form key pillars supporting a conducive investment environment.  Alongside a free press, mature financial markets, and experienced local partners, these factors significantly facilitate US and other foreign investments.” However, South Africa’s economic trajectory has been far from linear.  According to the report, many analysts describe 2010 to 2020 as a “lost decade,” marked by economic stagnation compounded by corruption and financial mismanagement.  The COVID-19 pandemic further delayed recovery efforts, while underlying infrastructure weaknesses continue to weigh on growth prospects. One of the most pressing issues remains the ongoing energy crisis. The state-owned power utility, Eskom, operates aging coal-fired plants suffering from years of deferred maintenance and internal corruption.  The resulting rolling blackouts, or load shedding, have disrupted industrial operations and shaken investor confidence. “While recent deployments of behind-the-meter solar capacity and improvements at Eskom slightly eased outages during much of 2024, power shortages re-emerged in early 2025,” the report notes.  Recognising the urgency, the government has crafted new regulations to allow private sector involvement in electricity transmission and plans to issue tenders for new grid infrastructure by late 2025. On the political front, the 2024 national elections led to the formation of a wide-ranging ten-party coalition government known as the Government of National Unity (GNU).  The report states that the coalition brought stability and a commitment to reviving economic growth. Still, investor skepticism persists regarding the GNU’s cautious approach to market reforms and property rights protection . “Concerns persist around policies that some view as threats to economic freedoms, particularly regarding land ownership,” the report warns.  A focal point of controversy is South Africa’s new Expropriation Act of 2024, which President Cyril Ramaphosa signed into law in December.  The legislation updates the apartheid-era framework, recalibrating compensation to a “just and equitable” standard rather than market value and allowing for “nil compensation” in targeted scenarios such as abandoned land. “This environment poses a delicate challenge for property owners and foreign investors alike, raising significant concerns about the security of land tenure and investment protection,” the report reads.  Furthermore, it highlights that “ inflammatory rhetoric from some political factions advocating illegal land seizures exacerbates the uncertainty.” South Africa’s ambitious Broad-Based Black Economic Empowerment (B-BBEE) program, designed to address historical inequalities by enforcing ownership and employment criteria favouring Black South Africans, complicates foreign market entry, especially in government contracting and mergers. “To navigate these challenges, some US companies have utilised alternative routes like the Equity Equivalent Investment Program (EEIP) and Employee Share Ownership Program (ESOP),” the report points out, noting particularly positive experiences in the technology sector despite some administrative hurdles. The report states that the government actively promotes foreign direct investment through entities such as the Department of Trade and Industry and Competition (DTIC) and InvestSA, which provide streamlined services and various incentives.  Yet, it said that private sector stakeholders express concerns about the increasing politicisation of mergers and acquisitions and regulatory trends that could dampen South Africa’s investment appeal. The report also praises South Africa’s hybrid legal system, which draws from civil, common, customary, and constitutional law traditions, for offering relatively strong property and contract protections.  Still, it cautions that protracted legal proceedings and recent limits on investor-state dispute settlement access may present challenges. The US State Department report affirms South Africa’s status as a leading regional investment hub, underpinned by institutional stability, developed markets, and strategic reforms.  It advises investors to use a measured approach, “leveraging government facilitation programs while anticipating ongoing reforms and potential challenges.” ‘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/news/politics/2025-09-28-despite-challenges-south-africa-remains-a-vital-investment-hub-us-report-reveals/

Statement 000, Clause 7 of the Amended General B-BBEE Codes of Good Practice makes the following references:   “7. Eligibility of Joint Ventures and Start-up Enterprises   7.1 The measurement of Unincorporated Joint Ventures will be done as follows:   7.2 Unincorporated Joint Ventures are required to compile a consolidated verification certificate.  A consolidated verification certificate will consolidate the verified compliance data of joint venture partners, in accordance with paragraph 7.3 below, as if those Measured Entities were a single Measured Entity.   7.3 The consolidation of compliance data shall be based on a weighting in accordance with the joint venture agreement relevant to the specific joint venture. Therefore, should two companies enter into an Unincorporated Joint Venture, their respective scores in terms of the relevant Code of Good Practice will be weighted according to their proportionate share in the joint venture and added together for a combined score out of 100.   7.3.1     Should a company qualify in terms of the Qualifying Small Enterprise Scorecard, its B-BBEE score out of 100 must be used to calculate the consolidated score.   7.3.2     51% Black Owned EMEs and 51% Black Owned QSEs will qualify for a score of 95 points, while 100% Black Owned EMEs and 100% Black Owned QSEs will qualify for a score of 100 Points.   7.3.3     EME’s other than those in paragraph 7.3.2 above will qualify for a score of 85 Points.   7.3.4     The JV B-BBEE Certificate is valid for 12 Months and only applicable to a specific Project.   7.3.5     Notwithstanding the B-BBEE Status Level attributed to the JV in terms of the above mechanism, the black Ownership of the respective partners may be flowed through to the JV in proportion with the respective JV partners’ economic interest and voting rights in the JV as determined by the JV agreement.   7.4 Start-up Enterprises are deemed to have qualifying B-BBEE Status in accordance with the principles of paragraph 4 of this Statement.   7.5 Despite paragraph 7.4, a Start-up Enterprise may be measured in terms of the QSE scorecard or the Generic scorecard should they choose to.   7.6 Despite paragraph 7.4, a Start-up Enterprise must submit a QSE scorecard when tendering for any contract, or seeking any other economic activity covered by Section 10 of the Act, with a value higher than R10 million but less than R50 million. For contracts of R50 million or more they should submit the Generic scorecard. The preparation of such scorecards must use annualised data.”   An Incorporated Joint Venture means establishing a new company with representative shareholders to obtain a B-BBEE status.  As per Schedule 1 of the Amended General B-BBEE Codes of Good Practice , an Unincorporated Joint Venture  means a joint venture between two or more Measured Entities affected by agreement without incorporation.  Requirements between each Sector Code may differ.   Technical Compliance Services are available to help members understand requirements for Unincorporated Joint Ventures.

The rule of thumb in claiming Broad-Based Black Economic Empowerment (B-BBEE) points is to follow the money directly to the end Beneficiary. Therefore, incorporating a third party between an organisation and a Beneficiary will not warrant a claim. The valid B-BBEE credentials of the end Beneficiary will be needed in order to validate the claim as well as confirmation from the end Beneficiary that the benefit has flowed to them.   Technical Compliance Services  are available to advise how members in relation to Third Party interventions.

Staff Writer | 22 September 2025 Business Unity South Africa (BUSA) is the next business interest group to take on the Department of Employment and Labour (DEL) over its sectoral employment equity targets. The targets came into effect from 1 September 2025, requiring all businesses in South Africa, employing more than 50 people, to work out a five-year plan to make their workforces demographically representative. The targets prescribe a set percentage of representation in the workforce, requiring businesses to restructure accordingly. The department set out specific numerical targets across 18 industries in South Africa that businesses must fill with ‘designated employees’. These designated groups include black (African, Coloured and Indian), female and disabled workers. For example, after five years, businesses in the accommodation and food service sector should have 56.7% of top management be from these ‘designated groups’—38.1% of which should be female. The same industry should have 78.3% of senior management reflect these groups. 84.7% of professional and middle-management positions and 95.9% of skilled technical employees should also reflect individuals from designated groups. The targets were announced in April 2025 and have already been challenged legally by business lobby Sakeliga and the National Employers Association of South Africa (Neasa). While the groups have failed in their first court bid to stop the targets from being implemented, they are now trying to get the matter directly to the Constitutional Court. BUSA’s legal challenge will now add to the pile of legal proceedings. However, unlike Sakeliga and Neasa, BUSA does not oppose the Employment Equity Act or the targets in principle, but is homing in on the DEL’s implementation. Specifically, the group said it has been forced to go the legal route to challenge the targets because the department’s consultations with stakeholders ended up being performative, ignoring glaring issues raised. “In BUSA’s view, the current sector targets are fatally flawed both substantively and procedurally. If allowed to stand, they risk undermining the very goal of an inclusive, transformed economy,” it said. Performative consultation with business The group said it had tried to engage with the department in good faith, but what was supposed to be a meaningful consultation ended up as a “presentation” and “performative engagement”. It said it raised several issues with the targets and the laws, which were simply left unresolved by the department. These included: Limited consultation time: Employers were given less than a week to respond; most received draft targets the night before meetings, which lasted only an hour. Insufficient information on methodology: The DEL has failed to provide sufficient explanation for how it calculated the targets or the demographic assumptions used. For example, the EE disability target was raised to 3% without DEL providing sufficient supporting data or adequately explaining how this figure was reached, despite acknowledging the lack of disability statistics. Insufficient sectoral analysis: Limited assessment conducted to determine whether targets were achievable across industry-specific realities. Conflicting compliance frameworks: The targets are not aligned with B-BBEE sector codes, creating regulatory confusion. One-size-fits-all targets: DEL’s refusal to differentiate among subsectors ignores operational, geographic, and structural diversity. “Poorly developed targets risk damaging vital sectors of the economy. If targets are unrealistic or not based on the skills available in each sector, companies may find themselves unable to comply,” BUSA said. “This creates uncertainty and weakens the integrity of the regulatory process, ultimately undermining the transformation and inclusion that the Employment Equity Act is meant to achieve.” The business group stressed that it was not trying to undermine the EEA or to work against sectoral transformation. It added that it continues to work with the government to address these issues. However, it said that rushed, opaque, and procedurally irregular processes not only fail the test of legality but also work against transformation by making compliance impractical and unenforceable. “The need for transformation is urgent, but urgency must not become recklessness,” it said. “We’re acting now to protect the credibility of equity policy. Unworkable targets do not advance transformation. They deepen frustration and erode trust in public policy.” ‘Disclaimer - The views and opinions expressed in this article are those of the au thor(s) and not necessarily those of the BEE CHAMBER’. https://businesstech.co.za/news/government/838139/south-africas-new-employment-equity-targets-face-another-major-legal-battle/

Staff Reporter | 21 September 2025 AgriSETA has warned the public about a surge in scams falsely using its name to promise jobs and training opportunities. Farmers and job seekers are urged to stay vigilant, and to verify all offers via www.agriseta.co.za AgriSETA has raised a red flag over a surge in scams falsely claiming to be linked to the agricultural skills authority, warning farmers, job seekers, and the public not to fall victim to these fraudulent operations. In a strongly worded statement, AgriSETA distanced itself from schemes by CreativeMindz, JobsRecruitment, and Youth of Tsomo . The organisation said it does not endorse, partner with, or participate in any of the activities linked to these groups. “These fraudulent operations often involve misrepresentation of our brand, services, or personnel to deceive individuals,” the authority said. “We urge the public to exercise extreme caution and vigilance when encountering any suspicious communication, offers, or requests for personal information that purport to be from AgriSETA or its employees.” According to AgriSETA, many of these scams target vulnerable people by promising jobs, learnerships, or training opportunities in exchange for money or personal details. The authority stressed that it will not be held responsible for any personal or financial losses suffered as a result of these scams. Instead, the public is urged to confirm all information through AgriSETA’s official channels: www.agriseta.co.za or 012 301 5600. “We are committed to protecting our stakeholders and the public from deceptive practices and are exploring all available avenues to address such issues,” the organisation added. AgriSETA is an entity of the Department of Higher Education and Training and plays a key role in strengthening skills development across South Africa’s agricultural sector. Its vision is to enable a skilled, transformed, and prosperous industry, while its mission focuses on increasing access to impact-driven skills through strategic partnerships and credible research. How to protect yourself from scams Food For Mzansi also shared practical advice for farmers, job seekers, and students to avoid falling victim to fraudsters: Never pay money to apply for a job, bursary, or learnership. AgriSETA does not charge fees for applications or training opportunities. Check the source carefully. All official communication will come from AgriSETA’s website or official email addresses ending in @agriseta.co.za. Verify before you act. If an offer sounds suspicious, contact AgriSETA directly on 012 301 5600 to confirm its legitimacy. Be cautious of social media promises. Fraudsters often use fake Facebook pages, WhatsApp groups, or SMSes to spread misinformation. Report scams immediately. Sharing details of suspicious activity with AgriSETA can help protect others. ‘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.foodformzansi.co.za/agriseta-warns-public-against-fraudulent-scams-misusing-its-name/

Nomvula Zeldah Mabuza | 22 September 2025 When news broke that China would inject $10 billion into South Africa’s technology and industrial sectors, it sparked both excitement and scepticism. Position it as the biggest external bet on South Africa’s innovation future to date. For a country where economic stagnation, youth unemployment and skills erosion have become generational challenges, the investment appears messianic. But is this the turning point South Africa has been waiting for, or another headline promise destined to join the long list of initiatives that did not deliver as intended? The truth is that South Africa has never been short of ambitious plans. From the Reconstruction and Development Programme (RDP) to the Accelerated and Shared Growth Initiative for South Africa (ASGISA), bold frameworks repeatedly promised jobs, transformation and growth. Yet poor execution, weak governance and lack of institutional continuity eroded their impact. The lesson is sobering: capital, whether domestic or foreign, is only as transformative as the governance structures, institutions and skills ecosystems that absorb it. The Chinese investment is not equivalent to ASGISA. It is external, strategic and tied to Beijing’s global Belt and Road ambitions. But the parallel is cautionary: unless South Africa learns from past failures, the $10 billion could dissipate without delivering on its potential. The stakes are immense. South Africa’s unemployment rate remains among the highest globally, with youth unemployment at 44% (Stats SA, 2024). The digital economy could add $40 billion to GDP by 2030 (World Bank, 2023), but this requires investment in skills, infrastructure and innovation ecosystems. The Chinese capital, if channelled into technology parks, digital infrastructure, renewable energy and advanced manufacturing, could accelerate the shift from a resource-based economy to a knowledge-driven one. Yet execution is decisive. Without accountability, transparent allocation and industry collaboration, the investment risks become another underutilised opportunity. South Africa must also confront a hard truth: it is not only money that has been missing, but the skills pipeline to deliver. According to the World Economic Forum, the country ranks 84th out of 141 nations in human capital competitiveness. Less than 20% of graduates are in STEM fields, while employers consistently report mismatched skills. The ICT sector alone reports an annual shortfall of more than 70 000 professionals (ICASA, 2023). To absorb $10 billion effectively, South Africa would need massive investment in STEM education and digital training, public–private partnerships in which local firms are not passive bystanders but co-creators of technology ecosystems and regional collaboration that positions South Africa not in isolation but as a hub for SADC and beyond. Without this, even the most advanced tech parks risk standing underutilised, symbolic of ambition without capacity. Global experience reinforces this point. Morocco’s renewable energy push, supported by international capital, succeeded because of strong governance and execution discipline. Rwanda’s Kigali Innovation City, though smaller in scale, has become a magnet for digital talent by combining foreign capital with rigorous skills development. India’s rise as a tech hub was not the result of a single investment but decades of consistent state support, skills building and partnership with its diaspora and private sector. The consistent thread is that money catalyses change only when paired with governance and human capital. Chinese investment, like any large-scale foreign capital, comes with both opportunities and risks. The Belt and Road Initiative has channelled billions into infrastructure across Africa, including the $4 billion standardgauge railway in Kenya, the Lekki Deep Sea Port in Nigeria, the port expansion in Djibouti and the fibre-optic backbone projects in Ethiopia. These projects demonstrate the scale and speed at which Chinese capital can transform logistics and connectivity. Critics caution that the debt burdens associated with some of these initiatives raise long-term risks. Others argue that Western scepticism often overlooks its own legacy of extractive engagement with Africa. For South Africa, the challenge is to strike a careful balance: embracing investment while maintaining strategic autonomy. This requires clear conditions such as technology transfer, local procurement, joint ventures and knowledge partnerships. The real risk is not the origin of the capital but whether South Africa exercises sufficient agency in determining how it is applied. Counterarguments deserve serious attention. Some will argue that $10 billion cannot fix systemic problems rooted in education, governance and institutional accountability. They are correct. But dismissing the investment outright ignores its potential catalytic effect. Others will warn that South Africa risks dependency on China. Yet diversification is possible if this investment is treated as one component of a broader industrial strategy that also embraces Western, African and domestic partnerships. Another concern is whether South Africa’s institutions are disciplined enough to manage capital of this scale, given the record of state capture and project delays in the past decade. These cautions must be acknowledged. The larger risk is complacency: assuming that money alone will create jobs. The reality is more demanding. Without skills pipelines, transparent monitoring and measurable outcomes, the initiative could echo failed promises of the past. Preventing this requires measurable outcomes. If even 20% of the investment is directed into ICT infrastructure and training, it could create over 100 000 new jobs in the digital economy by 2030 (World Bank estimates). Skills development should not be a side effect but a primary goal embedded in contracts and partnerships from the outset. The local private sector must be engaged not as contractors but as co-investors in innovation ecosystems. Otherwise, South Africa risks a future where technology is imported, not built and opportunities bypass domestic entrepreneurs. Ngozi Okonjo-Iweala, Director-General of the WTO, once observed: “Africa does not lack resources. It lacks the capacity to transform them into prosperity.” This investment will test whether South Africa has learned to build that capacity. The $10 billion from China is not a panacea. It will not solve every structural weakness. But if strategically managed, transparently executed and domestically anchored, it could mark the beginning of South Africa’s transition into a true innovation economy. This is not about foreign capital rescuing South Africa. It is about South Africa proving that it can take global partnerships and channel them into national transformation. The choice is stark: harness this investment to empower its youth and create jobs or let it fade into the long history of missed opportunities. The verdict will not be written in policy documents or press releases. It will be written in the lives of millions of young South Africans waiting not for promises but for opportunities. Nomvula Zeldah Mabuza is a Risk Governance and Compliance Specialist with extensive experience in strategic risk and industrial operations. She holds a Diploma in Business Management (Accounting) from Brunel University, UK, and is an MBA candidate at Henley Business School, South Africa. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://businessreport.co.za/economy/2025-09-15-south-africas-10-billion-question-can-chinese-investment-build-africas-silicon-valley/

Koketso Molepo | 18 September 2025 Poverty is one of the greatest curses that a human being can suffer, and our government has created poverty for many of our people in this country while enriching only the connected few. My introduction contains a painful truth. As a young South African, I have seen first-hand how mismanagement, misplaced priorities, and outdated policies continue to rob our people of dignity, hope, and opportunity. South Africa is blessed with resources, talent, and resilience, yet too many of our citizens remain trapped in cycles of poverty. If we are serious about building a thriving nation, we must confront these realities with courage, urgency, and vision. The Burden of Laws that Strangle Growth Instead of creating an environment for innovation, entrepreneurship, and investment, our country has chosen to impose restrictive laws that inhibit growth. • B-BBEE (Broad-Based Black Economic Empowerment): While designed to correct historical injustices, in practice it has become a gatekeeping mechanism that benefits a politically connected elite. It discourages investment, especially from foreign companies who cannot navigate its bureaucracy. • Rigid Labour Laws: South Africa’s labour market is among the most restrictive in the world. Businesses fear hiring because retrenchment is a legal nightmare. This strangles job creation and leaves millions unemployed. • Expropriation Without Compensation: The very idea undermines investor confidence. No one will pour money into land, factories, or infrastructure if tomorrow it can be seized without fair recourse. These laws, though born from certain ideals, are suffocating our future. To attract capital, we must embrace policies that encourage wealth creation, entrepreneurship, and competition. Lessons from the Health Sector Our public hospitals tell a heartbreaking story. I lost my brother, Khutso Molepo and my sister Tebogo, at Edenvale Hospital, not because of a lack of will from doctors and nurses, but because of a lack of resources, staff, and infrastructure. It is a tragedy repeated across South Africa. Yet, on the other side, our private hospitals are some of the best in the world. Why are we not actively engaging the heads of Netcare, Life Healthcare, and Mediclinic to transfer knowledge and systems to the public sector? Imagine what could happen if our government swallowed its pride and asked, “How can we replicate your excellence for the benefit of all South Africans?” That collaboration could save lives, just as it could have saved Khutso and Tebogo. The Path Forward: Growth, Investment, and Friendship Our future must be built on growth. Poverty cannot be wished away, it is only eradicated when people have jobs, when businesses thrive, and when opportunities multiply. To get there, we must: • End destructive policies like B-BBEE and expropriation without compensation. • Reform labour laws to encourage businesses to hire freely and expand. • Offer bold incentives to global investors. Imagine telling millionaires and billionaires of the world: “Come to South Africa. Build here. Grow here. For the first 5 or 10 years, your investments will be tax-free.” The message would spread globally that South Africa is open for business. At the same time, we must make friends with rich nations—not by begging, but by offering partnerships that benefit both sides. The world is searching for growth markets. South Africa can be that place, but only if we create certainty, stability, and opportunity. The curse of poverty must not define South Africa’s destiny. We must face the truth: policies that were meant to empower us are instead impoverishing us. We must be bold enough to tear down the barriers to growth, wise enough to learn from those who have succeeded, and brave enough to invite the world to invest in our future. I see a South Africa where no child dies in a hospital corridor because of neglect. I see a South Africa where investors flock because they know their money is safe. I see a South Africa where hard work, not political connection determines success. The time for excuses is over. The time for action is now. ‘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.politicsweb.co.za/opinion/a-vision-of-a-young-south-african-for-the-future-o

Kgolo Qwelane | 17 September 2025 Tax changes would have rendered preference share funding unattractive and obsolete as a funding tool. The halt by the government on the proposed tax changes to the treatment of preference share funding in the 2025 Draft Taxation Laws Amendment Bill is to be welcomed.  This is a relief regarding mergers & acquisitions activity, as the changes would have caused lower investment returns for BEE investors, reduced the secondary market for BEE deals and created a more difficult BEE deal-making environment.  The proposed framework would have harmed the tax treatment of dividend payments on preference shares, removing the only viable source of finance for equity transactions and adversely affecting BEE deals in SA.  According to the BBBEE Commission, BEE transactions with a gross value of R660bn were registered in 2017-24. Of these concluded BEE deals only the net value (after settlement of associated funding) would end up in participants’ hands. Broad-based participation in BEE schemes While early BEE transactions primarily benefited a few key individuals, they have since become broader and more inclusive. Hundreds of thousands of black beneficiaries have participated in broad-based schemes in the form of employee share ownership plans (Esops) — such as Shoprite, Absa, Harmony and Valterra — and retail schemes such as Vodacom YeboYethu, MultiChoice Phuthuma Nathi, SAB Zenzele, MTN Zakhele Futhi, Sasol Inzalo and Barloworld Khula Sizwe.  Many of these schemes caused significant value being generated for many citizens. Kumba’s Envision Esop saw eligible employees receive share units that entitled them to dividend payouts twice a year and a final pretax payment of about R576,000 each when the scheme was unwound in 2011.  How preference share funding works BEE transactions are typically funded through a combination of entry discounts, equity contributions from the BEE parties, external funding (largely through preference share funding) and vendor funding from the sponsor company to cover the shortfall.  At the end of the BEE transaction term, sufficient shares are sold to settle the outstanding funding, with only the balance representing a “profit” for the BEE investor.  Successful BEE deals are characterised by the following: strong share price performance, competitive funding rates and long transaction terms.  Consequences of the proposed tax amendments The proposed changes in the 2025 Draft Taxation Laws Amendment Bill regarding preference shares would have seen preference share dividends (previously exempt from tax) become taxable in the hands of the recipients/funders without a corresponding deduction at the preference share issuer level. Considering SA tax law does not generally allow for a tax deduction of interest when a loan is used to finance share acquisitions, these tax amendments would have significantly curtailed a major source of equity financing for share transactions.  Good news for investors and economic growth By putting an end to the proposed changes to preference share funding existing deals, BEE investors will no longer be subject to an estimated 37% increase in funding costs and new deals will no longer be charged at a higher funding rate from inception.  This is good news, as the tax changes would have rendered preference share funding unattractive and obsolete as a funding tool, discouraging investment, potentially harming economic growth, reducing taxes associated with M&A transactions and resulting in unintended consequences for the thousands of citizens who would otherwise benefit from BBBEE schemes. ‘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.businesslive.co.za/bd/opinion/2025-09-17-kgolo-qwelane-canning-of-proposed-changes-to-preference-share-funding-welcome/