'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....


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