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LATEST NEWS ON B-BBEE

B-BBEE Commission launches investigation into possible fronting practices and non-compliance with B-BBEE Act. The B-B BEE Commission has initiated investigations against specific entities for possible violation of the B-BBEE Act relating to the B-BBEE ownership structures and non-compliance with the Codes of Good Practice in respect of the verification process.


New Preferential Procurement Regulations do not exempt organs of state and public entities from implementing B-BBEE. The 2022 PPPFA regulations have not removed the obligation for organs of state and public entities to implement B-BBEE as part of preferential procurement.


MTN to launch new accelerator program to support small and medium-sized enterprises (SMEs). MTN Xlerator is a new enterprise supplier development (ESD) program that plans to increase the number of SMEs in MTN's supply chain. The program will provide SMEs with access to training, mentorship, and financial support.


Transport Sector Code - We are still awaiting more info but apparently this will be published 2nd week of December 2023.10.25.


Tourism Sector - A white paper has been published by Particia De Lille with comments and objections due by 30 Oct 2023. This will without doubt have major effects on the current BEE Tourism Sector Code.


YES, partners with LeadHERship to create opportunities for young women. YES, a youth employment service, has partnered with LeadHERship, a program that supports young women, to create opportunities for young women to enter the workforce. The partnership will provide young women with access to training, mentorship, and job placement assistance.


There is a growing focus on inclusive B-BBEE. This means ensuring that B-BBEE benefits are shared across a wider range of people, including women, youth, and people with disabilities.


A growing focus on B-BBEE beyond ownership. This means considering other factors, like skills development, enterprise and supplier development, and socioeconomic development.


A growing focus on B-BBEE compliance. The B-BBEE Commission is taking a more initiative-taking approach to enforcing B-BBEE compliance. These trends are likely to continue to shape the B-BBEE landscape in the coming years.

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