New Rules for B-BBEE

By Erika Holmes, Partner & Head of B-BBEE

Soon 51% black-owned large enterprises will be level 2; and
“At least 30% black-women owned” finally means “at least” and not “more than”!

1. DTI has recently published 3 proposed amendments to the generic Broad-Based Black Economic Empowerment (“BBBEE”) Codes of Good Practice on 29 March 2018 and 15 June 2018.  These, in summary, provide that:

1.1 automatic recognition levels will be given to 51% and 100% black-owned large entities with annual turnovers exceeding R50m,