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DTI shocks SA Inc. with BEE “clarification notice”

7 May 2015 8:20 PM

Broad-based empowerment and employee ownership schemes will from now on count less than individual share ownership.

The Department of Trade and Industry has issued an unexpected "clarification notice" that has the business sector up in arms.

Broad-based empowerment and employee ownership schemes will from now on count less than individual share ownership.

These changes could mean empowerment programs meant to benefit many end up going to a few black industrialists.

We spoke to Tony Balshaw, Partner in charge of BEE at Mazars.

Listen to the audio (scroll down) for more detail.

This came like a bolt from the blue. There’s going to be a lot of litigation. Hopefully the DTI will come to their senses and address this.

Tony Balshaw, Partner in charge of BEE at Mazars

7 May 2015 8:20 PM