'60% of companies are not meeting crucial black economic empowerment targets'

The Broad-Based Black Economic Empowerment (B-BBEE) Commission says 60% of entities in South Africa are at the lowest level of compliance.

The Commission appeared before Parliament’s select committee on trade and international relations on Tuesday.

It says it has noted fronting practices as a continued problem.

Commissioner Zodwa Ntuli says the areas of ownership, skills development and enterprise and supplier development needs improvement.

If you do not meet the 25% plus 1 target on ownership then you drop one level down, if you do not meet the targets set for skills development and enterprise development you also drop one level down.

Zodwa Ntuli , Commissioner for B-BBEE Commission

A whole lot of companies have not been able to meet those priority elements, so they are not meeting the sub minimum of 40% on those points, so automatically they will drop down to the lowest level.

Zodwa Ntuli , Commissioner for B-BBEE Commission

Click on the link below to listen to hear more from Ntuli....


Recommended

by NEWSROOM AI
Read More
An in-depth look at Malusi Gigaba's history and rise in government

An in-depth look at Malusi Gigaba's history and rise in government

News24 Journalist and eNCA senior political reporter Samkele Maseko take a look into the role of Malusi Gigaba in state capture.

Made in Jozi: Johannesburg's first winery takes off

Made in Jozi: Johannesburg's first winery takes off

Kath Gerakaris of the Gerakaris Family Winery chats to Gugs Mhlungu about creating Joburg's own wine from pressing to bottling.

How Ramaphosa plans to raise 100 billion dollars in new investment

How Ramaphosa plans to raise 100 billion dollars in new investment

Gugulethu Mhlungu spoke to Bloomberg journalist Sam Mkokeli who is in the UK, on President Cyril Ramaphosa's 'ambitious' target.

Long live the spirit of Ontlametse Phalatse, a film to inspire

Long live the spirit of Ontlametse Phalatse, a film to inspire

A documentary about inspirational Ontlametse Phalatse, one of only two South African girls who lived with progeria.

Does pasta make you fat? (not all carbs are considered equal!)

Does pasta make you fat? (not all carbs are considered equal!)

Registered dietitian weighs in on studies suggesting pasta has weight loss properties.

'We’re committed to transformation. This ruling provides certainty'

'We’re committed to transformation. This ruling provides certainty'

Mining firms keep their BEE status, even if a black partner exits. Refilwe Moloto interviews Chamber of Mines CEO Roger Baxter.

Popular articles
[WATCH] Here's the purported ANC letter Maimane revealed during Ramaphosa's Q&A

[WATCH] Here's the purported ANC letter Maimane revealed during Ramaphosa's Q&A

The 2014 letter on an ANC letterhead signed by then TG Zweli Mkhize thanks Bosasa's Gavin Watson for a 3 million party donation.

Blueberry production – and employment - skyrockets to all-time high

Blueberry production – and employment - skyrockets to all-time high

In 2014, 1000 people had blueberry jobs. By 2023 it could be 26 000. Bruce Whitfield interviews the industry's Sean Tager.

[WATCH] Man records every treadmill run over 8 months... and shows weight loss

[WATCH] Man records every treadmill run over 8 months... and shows weight loss

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Pilot filming aftermath of his plane crashing into ocean goes viral

[WATCH] Pilot filming aftermath of his plane crashing into ocean goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

Standard Bank says comedy of errors with bond applicant 'a once off'

Standard Bank says comedy of errors with bond applicant 'a once off'

Only when consumer journalist Wendy Knowler chased Standard Bank did they admit wrongdoing that cost a client R41 000.

SA’s richest woman opens up about being a refugee and becoming a billionaire

SA’s richest woman opens up about being a refugee and becoming a billionaire

Magda Wierzycka – Sygnia’s renegade CEO – on her attitude toward money (hopes and fears, successes and failures, etc.).

[WATCH] Father and daughter dance-off changes tune when she starts twerking

[WATCH] Father and daughter dance-off changes tune when she starts twerking

Khabazela shares tweets and Facebook posts that have gone viral.