DTI shocks SA Inc. with BEE “clarification notice”
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