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Bursaries play a critical role in South Africa’s Broad-Based Black Economic Empowerment (B-BBEE) framework, specifically under the Skills Development element of the scorecard. They represent more than just financial aid, they are a direct investment in shaping the country’s future workforce.   By funding higher education for Black South Africans, companies not only contribute to Transformation but also help close the gap between economic opportunity and educational access. Bursaries empower talented young individuals who may otherwise be excluded due to financial barriers, ensuring that economic growth is both inclusive and sustainable.   Bursary Services are on hand to assist with managing Bursary programmes on behalf of Members.

Bizcommunity | 10 September 2025 Over 600,000 South Africans use South African Sign Language (SASL), and it's one of the country’s official languages. However, Deaf and speech- and hearing-impaired South Africans still struggle to access essential services. This is why collaborations like the one between ER24 and Vodacom are so crucial in ensuring South African communication services are more accessible. The collaboration began in 2017 with the launch of the Vodacom 112 Emergency Services App, linking customers directly to the ER24 Emergency Contact Centre. No one left behind It has since expanded to include the introduction and management of the National Relay Service (NRS) – for those who rely on SASL and other accessible formats to interact with the wider world. As Rajes Govender, contact centre manager at ER24, explains, "Vodacom’s NRS enables seamless communication for those who are Deaf or hard of hearing, making it possible for them to engage fully in society. “The service provides various options, including a video relay service with a SASL interpreter, a voice relay service, and a text relay service for those with speech impairments." People can choose from a range of relay services tailored to their specific needs, including voice relay, text relay, live chat, captioned telephony relay, and video relay – free to registered Vodacom prepaid and contract customers. Specially trained relay officers interpret calls and messages in real time, facilitating clear communication between users and the people or services they are interacting with. Ensuring equal access There are currently eight national relay officers – three are qualified SASL interpreters and five can assist with voice-related queries from Blind and Paraplegic patients. With the option of both video and voice-based services, the broader disabled community can reach out to ER24 when they need emergency medical assistance. "At Vodacom, we believe the NRS is vital in ensuring equal access to everyday services that many take for granted,” says Fay Saib, managing executive of customer operations at Vodacom. “For members of the Deaf community, simple tasks like booking a doctor’s appointment, reserving a table, or even calling for help in an emergency can be overwhelming. “The NRS bridges that gap by bringing these services directly to their phones. As Vodacom, we remain committed to developing inclusive, people-centred digital solutions, and we are proud to partner with ER24 in this important initiative." “This partnership is so much more than a national awareness month,” Govender concludes. “It’s about independence, dignity, and ensuring that no South African is excluded from the care and services they need.” ‘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/how-vodacom-and-er24-are-bridging-the-communication-gap-for-south-africa-deaf-community-732412a

Early payments apply to Supplier Development Beneficiaries only. Clause 3.7 in Statement 400 of the Amended General B-BBEE Codes of Good Practice  outlines the definitions, as well as the only circumstance in which a Large Enterprise can qualify for early payments:   “3.7 Beneficiaries of Supplier Development or Enterprise Development are EMEs, QSEs or Generic Entities which are at least 51% Black Owned or at least 51% Black Women Owned utilizing the flow through principle. However, in terms of Generic Entities, this is based on the provision that at the first instance of receiving assistance from the Measured Entity, it was identified that such suppliers were EMEs or QSEs. This recognition for Generic Entities will only be allowed for 5 years from the first time of receiving assistance from the Measured Entity.”   Enterprise & Supplier Development Services  are available to help members determine how to claim Early Payments.

Brendyn Lotz | 9 September 2025 The Zaka Index reveals that 82 percent of respondents between the ages of 18 and 35 earn less than R6 000 per month. This leads to young people skipping meals, delaying payments, and turning to less-than-ideal loans to make ends meet. All of this has a drastic impact on mental and physical health. The latest Zaka Index, which outlines how young people between the ages of 18 and 35 think about money, is out now. The index is the product of Blackbullion South Africa and Sanlam. The index surveyed 1157 people from across South Africa and hopes to give us all a better idea of the struggles that young people face. The bad news is that the struggle is immense, even for those who don’t form part of the unemployed youth . By far the most concerning finding is that 82 percent of respondents earn less than R6 000 per month. We suspect that some folks are still living at home, but R6 000 is an insignificant amount of money for people to earn, even if you don’t have to pay rent. This low income leads to other problems. Nearly every respondent (80 percent) says they have either skipped meals or delayed important payments due to lack of funds. Half (51 percent) of respondents also report feeling financially stressed every day. That stress takes a massive toll on your mental and physical health, given that 41 percent find food to be the hardest thing to afford consistently. And before the boomers at the back talk nonsense about luxuries, the Zaka Index covers this, with the monthly spend on luxury items averaging out at R283. And do you know what the biggest “luxury” is per this report? Airtime and data. Not streaming or takeaways, airtime. “The cost of financial stress is more than emotional, it affects decision-making, mental health, and the ability to plan ahead, often forcing short-term survival choices over long-term growth. According to the 2024 DebtBusters report, 93% of South Africans said stress negatively affects their home life, 76% said it impacts their work life, and 74% reported a negative impact on their health. In this environment, unexpected expenses can trigger a financial crisis, eroding resilience and reinforcing a cycle where young people are constantly on the back foot,” reads the Zaka Index. The report reveals that an unexpected cost of just R1 000 would cause a crisis among respondents, with many having to resort to loans and other means to make up the cost. Predators in plain view With so little money on the table, there appears to be a habit of youngsters taking out loans to pay for things they can’t afford otherwise. In the report, which you can find here, the index spoke to some respondents, and in every quote, a loan or some form of credit is mentioned. While some form of debt is essential for establishing a credit history, many of the respondents seem to turn to predatory payday or short-term loans, loan sharks, or even gambling. All of these sources of money are easy to find nowadays and can often end up putting youngsters under greater financial strain. For example, a popular, well established short-term loan provider will lend you R1 000 for 30 days, but it will cost you R1 304.86 to pay it back. A person who takes that loan isn’t just R304.86 short, they are short the full amount because they never had the R1 000 available in the first place. Financial education is vital, but it’s often overlooked, and loan providers are aware of this and take advantage of it, within the bounds of the law, of course. “I have invested in schemes a couple of times, thinking they were legit. I have taken loans not thinking of the consequences. I thought I was financially literate until I ended up under debt review at the age of 28 because of family,” one respondent told the Zaka Index. But it’s not solely the responsibility of the youth to be aware of finance. Finance is complicated and, more importantly, boring for most people. “The ZAKA Index shows that young people aren’t careless with money and making impossible trade-offs in a high-cost environment,” says Leana De Beer, CEO of WaFunda (which powers Blackbullion South Africa). “The ask now is to translate these insights into practical, continuous learning and targeted support that builds small buffers, improves decision-making and opens pathways to opportunity.” Investing in the youth now is extremely important, as this is the next generation, and if that generation isn’t financially healthy, we’re in a lot of trouble. ‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’. https://htxt.co.za/2025/09/can-you-survive-on-a-r6000-salary-82-percent-of-youth-have-to/

Bizcommunity | 8 September 2025 According to Statistics SA’s Q2 2025 labour data, 46.1% of young people aged 15–34 – around 4.9 million individuals – are unemployed. Township communities, long excluded from the formal economy, remain among the hardest hit. Linking learners with township entrepreneurs In partnership with Yes, Takealot Group is sponsoring 75 learners placed with 25 township-based SMMEs, all active Takealot Marketplace sellers. The learners provide administrative and operational support, helping small business owners free up time to focus on growth, while gaining practical work experience and digital skills. “This initiative is about more than numbers – it’s about people, opportunity, and lasting change,” says Tshepo Marumule, Takealot Group’s head of public policy and external affairs. “By integrating young people into the heart of township-based small businesses, we are tackling two of South Africa’s most pressing challenges: youth unemployment and the need to strengthen SMMEs.” Boosting township economies The programme covers SMMEs in Gauteng communities including Soweto, Soshanguve, and Krugersdorp, operating in sectors ranging from fashion and beauty to agriculture and household goods. Businesses report improvements in efficiency, digital engagement, and sales. Lufuno Rasoesoe, MD of Tosh Detergents, says: “Having four Yes learners sponsored by Takealot Group has been a tremendous boost. They’ve brought energy, commitment, and a hunger to learn that has positively influenced our team culture.” For learner Yanga Plaatjie, the experience is equally significant: “I am learning so many skills and gaining knowledge that will help me in the future. I am truly grateful for this opportunity.” Scaling for future impact The pilot has achieved a 95% retention rate, with many sellers eager to retain their learners beyond the programme. Takealot aims to expand the initiative nationwide, with targets set for 2028: Create 20,000 income-generating opportunities through the Takealot Township Economy Initiative (TTEI) Train 6,000 last-mile delivery drivers Onboard 5,000 personal shoppers Onboard 5,000 marketplace sellers The group says its long-term goal is to embed inclusive growth into South Africa’s e-commerce ecosystem by supporting small businesses, creating employment, and expanding digital participation. ‘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/takealot-backs-township-entrepreneurs-with-new-learnership-programme-732372a

ITWeb Netcampus | Tebogo Makgatho South Africa is facing a youth unemployment crisis, with 63.9% of young people (ages 15-24) jobless (StatsSA, 2023). While many blame a sluggish economy, the real issue runs deeper – a massive mismatch between the skills young people have and those employers need. The skills gap crisis A 2023 report by the Department of Higher Education and Training (DHET) reveals that over 50% of South African graduates lack the skills demanded by the job market. Employers consistently report shortages in:  Leadership and management (critical for high-level roles)  Digital literacy and AI skills (essential for the 4IR economy)  Problem-solving and communication (needed at all career levels) Why is this happening? 1. Outdated education system Many schools and TVET colleges still teach obsolete curricula, leaving students unprepared for modern jobs. Only 33% of university graduates qualify in high-demand fields like engineering, while humanities graduates struggle with the highest unemployment rates (DHET, 2023). 2. The 4IR skills shortage There are skills that have been identified as scarce skills in the ICT Sector – AI, ML, data science, cloud computing, cyber security, RPA and automation, practical tech application, soft skills, infrastructure and equity, etc. Netcampus focuses on these skills to ensure the beneficiaries are skilled in jobs for the future. Renewable energy, AI and green hydrogen are booming – but SA lacks trained technicians and engineers (SAREM, 2023). Without urgent reskilling, we risk missing out on the jobs of the future. 3. Employers and educators aren’t aligned Only 21% of SETA training programmes match industry needs (DHET, 2023). Many graduates know theory but lack workplace-ready skills like teamwork and adaptability. How do we fix this? Reform education : Schools and universities must prioritise STEM, coding and soft skills (like communication and critical thinking). Legislators need to align more with global technology leaders and OEM through their accredited and certified training providers in the public and private sectors  Strengthen TVET colleges : More industry partnerships (eg, apprenticeships with organisations like SITA and Mimecast).  Upskill the workforce : Government and businesses must invest in short courses for digital and green economy skills. "Technical generalists – especially those fluent in programming languages like Python and familiar with cloud platforms such as Azure, are in high demand across AI and infrastructure teams.” (Business Insider, 2024) At GovTech 2025, we’ll debate cutting-edge systems like the Citizen Super App and blockchain procurement. But none of these matters if we lack skilled professionals to implement them. Proven solutions: The Netcampus model Netcampus is committed to empower learners, making them part of a successful journey to become employed professionals through a learnership programme called the Kagisano Labour Program, in partnership with the Unemployment Insurance Fund (UIF). Unlike other skills development service providers that train students and leave them to find employment, Netcampus Group ensures that its learners are placed in employment. The programme is national and thus far, 4 000 learners have been trained through the Kagisano Labour Program, with about 3 000 placed in employment. Netcampus continues to work with various employers to ensure that learners are aligned to employers’ specific workplace needs and skills Netcampus, in partnership with Microsoft, has engaged key stakeholders – including the Department of Higher Education and Training (DHET) leadership and TVET colleges, Bapedi Kingdom, Botshabelo Digital Hub, provincial governments, Limpopo Connexion and Telkom Foundation – to launch an ambitious initiative to empower 100 000 South Africans with AI knowledge and digital fluency. The programme reached over 104 000 individuals and 50 were awarded the globally recognised AI-900 certification. This milestone marks a significant step in driving digital transformation and future-ready skills across South Africa. The Cybersecurity Youth Development Program is a strategic initiative by the Gauteng Department of e-Government, in partnership with Netcampus, aimed at equipping unemployed youth in Gauteng with critical cyber security skills. This programme addressed the growing need for cyber resilience in government and the broader digital economy. A total of 9 929 candidates were selected and trained on topics that included cyber security fundamentals, ethical hacking, digital forensics and Microsoft AI. The top 50 students proceeded to receive advanced classroom training in modules such as GRC, pen testing and emerging technologies. The Netcampus AI leadership programme has equipped public sector and industry leaders with the strategic understanding required to guide AI adoption, governance and policy development. Over 3 000 delegates have been trained from key partners and customers, namely the National School of Government, Western Cape Provincial Government, Gauteng Provincial Government, Eastern Cape Provincial Government and the National Department of Education. Netcampus partnered with Microsoft, SITA and the Department of Communications and Digital Technologies (DCDT) to collaborate in enabling paperless government for key government departments. This project has strengthened technical capabilities in SharePoint for content management, Power Platform for low-code solutions, Teams for communication and OneDrive for secure file sharing and collaboration. Over 66 beneficiaries benefited from this skilling initiative within SITA and DCDT, where end-users and functional consultants received key skills and certifications exams. Netcampus has embarked on learnership and internship programmes for the disabled youth. The internship and learnership programmes are delivered on behalf of Netcampus’s blue-chip corporate clients. A total of 100 learners from KwaZulu-Natal are enrolled in the internship programme and will be trained on Microsoft Security and Microsoft Azure, while 60 learners from Gauteng will be trained on a learnership programme providing various qualifications. Your role in the solution At GovTech 2025, the Netcampus Group will showcase how South African organisations can move “From Classroom to Cloud: Scaling SA’s Tech Talent Pipeline”. The Netcampus Group will share: For employers: How to sponsor high-impact scholarships (ROI case studies). For government: Skills transfer clauses that work in IT contracts. For tech professionals: Two-hour/month mentorship frameworks. The bottom line South Africa’s youth can’t afford to wait. If we don’t act now, the skills gap will keep widening inequality and stunting economic growth. It’s time to bridge the gap, because every young person deserves a fair shot at a decent job. ‘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.itweb.co.za/article/you-cant-build-a-digital-government-without-first-building-digital-talent/dgp45MaBpxkqX9l8

The Legal Sector Charter Council recently published Guidance Notice 01 of 2025 .   The purpose of this Guidance Notice  is to provide information required on the measurement of the Legal B-BBEE Sector Codes of Practice. This information for B-BBEE Verification purposes is in addition to physical interviews conducted.   Members are encouraged to take note of this significant Guidance Notice .

The Legal Sector Charter Council recently published a Notice to all Attorneys to participate in a Stakeholder Engagement session.   Part of the Notice stated the following:   “The Chairperson of the Stakeholder Engagement Committee of the Legal Sector Charter Council hereby invites attorneys to a dedicated engagement session with the Legal Sector Charter Council.   The purpose of this engagement is to unpack and provide clarity on the provisions of the Legal Sector Code, with specific focus on how it impacts and applies to attorneys. This will also serve as a platform to raise questions, exchange views, and deepen understanding of the Code’s objectives and implementation.”   The BEE Chamber encourages all interested parties to attend the session.

A High Court Judgement   has been recently released on whether the numerical targets set by the Minister are lawful or not.   The conclusion of this High Court Judgement   stated the following:   “In summary, this Court concludes that an interdictory relief is not appropriate in the circumstances of the present case. A suspension of the exercise of statutory powers is inappropriate and the provisions of section 172(1)(b) of the Constitution finds no application. This Court is not in a position to examine whether the numerical targets set by the Minister (exercise of statutory power) are lawful or not. A Court of review is better placed to conduct such an examination, when considering the rationality or otherwise of the exercise of the statutory powers. This Court disagrees with a contention that the numerical targets set by the Minister are arbitrary and discriminatory of women. Regarding costs, the appropriate order is that of each party paying its own costs.”   Members are encouraged to take note of this significant High Court Judgement .

Mmatumelo Lebjane | 3 September 2025 The object is to bypass tenderpreneurs and strengthen Gauteng's infrastructure. Gauteng Premier Panyaza Lesufi has confirmed the relaunch of the province’s flagship youth employment program, Nasi iSpani, with ambitious plans to train and deploy 45,000 unemployed young people in technical skills. Lesufi briefed the media on Wednesday at the premier's office, Joburg on the upcoming relaunch of his recruitment program. He said Nasi iSpani will be rolled out this weekend across technical schools, which will double as training centres during school holidays. He said young people will be offered training in artificial intelligence, bricklaying, welding, plumbing, painting and other trades.  Lesufi said the aim was to build state capacity, reduce reliance on tenders and simultaneously fight unemployment. “The province will no longer be reliant on tenderpreneurs, who frequently engage in disputes and legal battles with municipalities over contracts. “We cannot have unemployment so high while our schools stand empty during holidays. These are our training centres. This is about equipping young people so they can rebuild the province,” said Lesufi.  The provincial government has allocated R50m to kick-start the program, with other state agencies expected to add resources. Trainees will not only gain skills but also be deployed to complete unfinished government projects, which Lesufi said had cost the state R13bn in delays and legal disputes. These range from incomplete schools and clinics to broken traffic signs and derelict social infrastructure. “Instead of waiting for tenders that get delayed or end up in court, we will use this pool of trained youth to paint our schools, repair traffic lights and fix public facilities. This program is not about politics, it is about dignity and skills.” Lesufi said that while Nasi iSpani offered short-term relief, it was paired with long-term plans. He said the province has been in talks with the department of higher education and the Setas to ensure that the funding of the intended 45,000 young people goes ahead as planned. “We are fighting for permanent jobs but until then, Nasi iSpani is a safety net that ensures no young person is left behind,” he said. “On economic transformation and job creation we have taken a sharpened focus on accelerating inclusive economic growth, with deliberate efforts to unlock investment and create sustainable jobs, and when it comes to service delivery acceleration, we have made a commitment to improving infrastructure, health, education and basic services, with measurable timelines for implementation.” The premier said despite challenges, the program has been a great success and they are working on a vetting process to ensure that those who are recruited are South Africans. ‘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.timeslive.co.za/news/south-africa/2025-09-03-lesufi-relaunches-nasi-ispani-to-train-45000-jobless-youth/

Creamer Media | 3 September 2025 Eastcape Midlands TVET College (EMC) has, thanks to its partnership with the Schneider Electric Foundation and Schneider Electric, established a state-of-the-art electrical laboratory, and now joins the ranks of the French Southern African Schneider Electric Education Centre (F’SASEC) network as a Centre of Excellence. Situated at EMC’s Brickfields Road Campus in Uitenhage, Eastern Cape, the laboratory equips electrical apprentices - enrolled in the QCTO (Quality Council for Trades and Occupations) programme - with hands-on experience in advanced electrical and electronic systems. Training is conducted on equipment generously donated by the Schneider Electric Foundation and Schneider Electric. Speaking at the official opening of the centre, Zanélle Dalglish, Global Leader: Training & Education Affairs at Schneider Electric said: “As the skills gap continues to widen, there’s an urgent need to equip young professionals with future-ready capabilities.  “At Schneider Electric, we’re proud to play a role in addressing this challenge by embedding our solutions directly into learning environments. This practical exposure not only enhances technical proficiency but also reinforces our commitment to preparing the next generation of talent for the energy and digital sectors.” Complimenting the newly implemented education benches donated by the Schneider Electric Foundation, more than 300 students have already been upskilled at EMC through Schneider Electric’s circularity equipment donations programme on industry relevant training panels.”   Since 2009, the Schneider Electric Foundation has impacted over a million young people globally through meaningful investment and partnerships, contributing to equitable education and workforce development. Training institutions like EMC are part of the Foundation’s Energy Technical Training programme and play a fundamental role in nurturing talent for the energy transition, especially within underserved communities. Thareef Bloew, Artisan and Technician Training Manager said: “Seeing our students train on Schneider Electric’s state-of-the-art equipment which were generously donated is game-changing,” “These aren’t generic training panels; they’re the exact systems used in industry today.  There’s no doubt our new Centre of Excellence gives them unparalleled confidence and competence from day one. “Furthermore, it aligns with the QCTO Electrician qualification, which is fundamentally built around the pillars of Industry 4.0. Think smart grids, IoT integration, advanced automation and energy efficiency – these aren't futuristic concepts here; they're core to our curriculum. Schneider Electric’s s technology and expertise allow us to deliver this curriculum authentically. Our students aren't just learning about Industry 4.0; they're working with it daily.” Industry-ready equipment  EMC’s School of Occupational Training, which delivers apprenticeships and industry-aligned skills programmes, will now offer learners hands-on training with the latest technology in electrical and electronic systems. The centre has been fitted with advanced training equipment from Schneider Electric that include: Combination motor starter trainers. Three-phase Variable Speed Drive (VSD) trainers. Programmable Logic Controller (PLC) / Human-Machine Interface (HMI) trainers. Domestic household trainers. These systems will support practical learning aligned with the registered QCTO electrical apprenticeship qualification, ensuring learners are trained in line with the demands of today’s energy sector. Testimonies from students echo this transformation. Sivikele Ndzwaiba, a third-year apprentice, shared: “What I like about the Schneider Electric panels is that they allow us to explore new technology, particularly industrial automation. You can write your PLC and visualise operations on your HMI, it’s an efficient and industrial solution.” Stephan Esterhuizen, also from EMC, added: “The PLC-HMI training panel teaches us how to monitor different variables in a factory setting. It’s not just technical know-how; it’s insight into the industry of tomorrow.” In addition to equipment donations, the collaboration also includes: Train-the-Trainer programmes to upskill EMC facilitators. Access to Schneider Electric’s Energy University – a complimentary digital learning platform. Technical support and global best practice sharing. Peer collaboration with other F’SASEC institutions across Southern Africa. As a public TVET institution under the Department of Higher Education and Training, EMC serves communities across the Eastern Cape. Many of its students come from disadvantaged backgrounds, and initiatives like this play a crucial role in breaking barriers and building brighter futures. ‘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/eastcape-midlands-college-and-the-schneider-electric-foundation-launch-electrical-centre-of-excellence-2025-09-03

Roy Cokayne | September 2025 A former stockbroker lodged the claim, relating to a BEE transaction involving JSE-listed Northam Platinum. Prominent South African businessman Lazarus Zim has been summonsed by a former stockbroker to pay him nearly R123.7 million plus interest, for allegedly breaching an agreement linked to a broad-based black economic empowerment (BBBEE) transaction involving JSE-listed Northam Platinum . According to court documents, Peter Wayne Roberts lodged the claim at the High Court in Johannesburg and is seeking judgment against Zim for the R123.690 615 payment, interest on this amount at 7% per annum from 21 September 2021 to date of payment, as well as costs and any alternative relief. Zim, who was Northam Platinum’s chair when the deal began in 2014, has indicated through his attorneys that he will defend the matter. The BEE transaction was finalised on 21 September 2021. Moneyweb requested comment from Zim via his attorneys. David Kotzen of David Kotzen Attorneys said on Friday they had discussed this matter with their client and, “As the litigation is underway, it is our advice to our client not to comment at this stage.” Zim, a former chair of Mvelaphanda Resources, Kumba Iron Ore, Telkom SA, and TransHex Group, has also served as CEO of Anglo American South Africa, managing director of MTN International, and president of the Chamber of Mines. He reportedly had links with the controversial Gupta family, the alleged kingpins of state capture, but apparently cut ties with the family in 2010. Roberts was previously the chief investment officer (CIO) of Atisa Group and, in 2023, received a R25 million payout from Discovery Life for a permanent disability claim. The life insurer initially repudiated the payout but was forced to pay it after unsuccessful appeals against a High Court judgment. Roberts claims he entered into an oral agreement with Zim in March 2014, related to the Mining Charter requirement that Northam Platinum must have at least 26% BEE ownership. At the time, Northam Platinum no longer complied with the Mining Charter after an earlier BEE deal collapsed. Zim had previously participated as a BEE shareholder through Afripalm Resources (Pty) Ltd, which, together with Mvelaphanda Holdings (Pty) Ltd, was the primary BEE shareholder of Northam Platinum with a shareholding of 22%. The collapse of the share price of platinum producers, including Northam Platinum, resulted in the principal BEE shareholders in the company breaching their covenants under the financing arrangements, and the disposal of their shareholding in Northam Platinum to remedy this breach. Self-funded BEE structure Roberts claims Zim wished to participate in a new BEE structured shareholding, but in a self-funded structure. Regarding this proposed transaction, Roberts alleges he was to advise and assist in formulating a new self-funded BEE structure, in which Zim and other historically disadvantaged South Africans could participate through corporate vehicles. It is further alleged that Zim would ensure that Roberts would participate to the extent of 20% of the corporate vehicle representing Zim’s interests. Roberts claims he went on to advise on and assist in formulating a self-funded BEE structure, in which one company as the primary vehicle, would hold the entire issue of Northam Platinum shares for ten years. Zambezi Platinum Limited was incorporated on 2 June 2014 as a public company and the primary vehicle to hold the Northam Platinum shares, through which the interests of historically disadvantaged individuals would be indirectly held. Business Venture Investments 1841 (Pty) Ltd was incorporated on 26 September 2014, as a corporate vehicle to be a shareholder of Zambezi Platinum Ltd. Zim allegedly changed the former’s name to Atisa Platinum (Pty) Ltd on 11 May 2015. Roberts claimed Zim would indirectly participate as a shareholder of Atisa Platinum (Pty) Ltd, Zambezi Platinum Ltd and Northam Platinum. It’s further alleged that, on 21 October 2014, Zambezi Platinum and Northam Platinum concluded a framework agreement in terms of which Zambezi Platinum would acquire 31.4% of Northam Platinum’s issued share capital, with a lock-in period of 10 years. Roberts says Zim arranged for 20% of the issued share capital of Atisa Group to be transferred to Micawber 612 (Pty) Ltd, a company 100% owned by him. He claims this was on the basis that Atisa Group would be the holding company of Atisa Platinum. But, according to Roberts, sometime before 11 February 2015, Zim “breached the agreement and altered the structure” of Roberts’s participation by substituting Business Venture Investments No 1848 (Pty) Ltd – a company in which Roberts did not hold any shares – as the holding company of Atisa Platinum. Roberts says shareholders of Northam Platinum approved a transaction on 19 March 2015 that enabled the issue of 159 905 453 shares to Zambezi Platinum. He claims this transaction was implemented on 20 March 2015, resulting in Zambezi Platinum holding 31.4% of Northam Platinum’s issued share capital. Zim participated in the deal through the BVI 1841 Consortium*. (Note, Roberts claims there are several different Business Venture Investment companies, ringfenced and incorporated specifically to hold shares.) It’s alleged that Zambezi Platinum acquired the Northam Platinum shares through the self-funded BEE structure, with funds from the issue of JSE-listed preference shares. This meant the historically disadvantaged individuals were not required to pay any consideration for the Northam Platinum shares, which Zambezi Platinum acquired in terms of the transaction. Roberts claims a further transaction was implemented on 21 September 2021, in terms of which Northam Platinum: Acquired all the preference shares in Zambezi Platinum; Acquired 100 693 877 Northam Platinum shares to settle accumulated dividends owed on the preference shares and the redemption of the preference shares; Repurchased 59 211 576 Northam Platinum shares from Zambezi Platinum at R160 per share; and Acquired voting and economic control over Zambezi Platinum, which then made a distribution in cash to its shareholders of R9 473 852 212. He states this resulted in R1 212 653 084 being distributed to Atisa Platinum on 21 September 2021, leading to Business Venture Investments No 1848 (Pty) Ltd acquiring a beneficial value of R618 453 073 – which is 51% of the R1 212 653 084. Roberts alleges that had Zim complied with their agreement, he would have received R123 690 615 on 21 September 2021, which is 20% of the R618 453 073. *Roberts claimed the structure and effect of this transaction was that: Business Ventures 1834 (Pty) Ltd Ltd, held 12.8% of the share capital of Zambezi Platinum and had an effective interest of 20 467 898 Northam Platinum shares. Atisa Platinum (RF) held 100% of the issued share capital in Business Venture Investments 1834 (Pty) Ltd. Business Venture Investments 1849 (Pty) Ltd held 100% of the share capital of Atisa Platinum (RF). Business Venture Investments No 1848 (Pty) Ltd held 51% of the share capital of Business Venture Investments No 1849 (Pty) Ltd and an effective interest of 10 438 628 Northam Platinum shares. ‘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.moneyweb.co.za/mineweb/prominent-sa-businessman-lazarus-zim-sued-for-over-r123m/