Latest News

20 January 2023 – EOH issues final rights offer to BEE partner Lebashe
JSE-listed technology services group EOH has issued final terms of its rights offer and its specific issue of shares to its strategic investment partner Lebashe Investment Group.
19 January 2023 – Heineken’s acquisition of SA-owned Distell will result in a new brewery in KZN, malt operation in the Western Cape
Dutch multinational brewer Heineken’s takeover of South Africa’s alcohol drinks group Distell will result in the merged company investing R5.5 billion into the local economy, the Competition Tribunal heard yesterday.
19 January 2023 – Do you know how many people in SA have a matric? Here’s how companies can change this major problem in SA
In 2020, the Department of Higher Education and Training calculated that less than a third of South African adults, some 32.5%, had a matric certificate or its equivalent.
11 January 2023 – Addressing industry skills shortages in the mining sector by engaging in the new QCTO framework
In its global risk barometer for 2022, international financial services provider Allianz surveyed 2 ,650 risk experts in 89 countries on the biggest perils facing industries in the coming year. Notably, skills shortages were identified as the eighth biggest risk in South Africa currently.
07 January 2023 – ANC’s 55th National Conference adopts resolutions to revive SA’s economy
The African National Congress’s 55th National Conference has adopted a number of resolutions geared at reviving and transforming the country’s economy. The party’s Commission on Economic Transformation resolved that social grants and welfare payments should be protected from inflationary pressures, and expanded to provide for basic incomes as government’s budget allows.
07 January 2023 – Black-Owned Tourism Enterprises Urged to Apply for Tourism Transformation Fund
South Africa’s Department of Tourism is calling on all black-owned tourism enterprises to apply for the Tourism Transformation Fund (TTF).
10 December 2022 – Absa beefs up transformation with appointment of three executives
Absa Bank has further beefed up its transformation scorecard by appointing two more black executives within its executive ranks. Jeanett Modise has been named new group chief people officer and Sydney Mbhele the new chief brand, marketing and corporate affairs officer.
08 December 2022 –Alex job seekers to walk to Union Buildings to protest for jobs
A group of 150 jobless people from Alexandra who are members of the Imisebenzi Yethu organisation will undertake a 12-hour walk to the Union Buildings to demand the creation of jobs for the unemployed.
29 November 2022 –Delta Drone : Rocketmine becomes the first operator of civilian drones in South Africa to obtain Level 1 B-BBEE
Rocketmine, a South-African subsidiary of Delta Drone, recently announced in a press release dated 9 January 2019 that it obtained a Level 1 B-BBEE certificate, pursuant to a stringent audit carried out by SANAS (South African National Accreditation System), the only government-accredited agency for such verification.
28 November 2022 –Disability learnerships key to addressing SA’s unemployment challenges
With the month of November marking Global Disability Month and 3 December being International Day of Persons with Disabilities, it’s a good time of year to reflect on how we can empower people with disabilities, while also helping them to play a bigger role in our economy.
22 November 2022 –New Preferential Procurement Regulations will give state organs more discretion to implement their own procurement policies
From 16 January 2023, New Preferential Procurement Regulations (“2022 Regulations”) will take effect in South Africa. These will expand the aims of preferential procurement and reinforce the discretion of organs of state to implement their own procurement policies.
18 November 2022 – Transformation laws without end
Minister of Employment and Labour, Thulas Nxesi, says that South Africa’s employment equity and transformation laws will stay in place until the “primary objectives” of the regulations are achieved.
16 November 2022 – ANC NEC should have focused more on economic disparities – Business leaders
The ANC national executive committee (NEC) should have dedicated more time to addressing the continued economic disparity, growing unemployment, poverty and inequality during deliberations. So said the Black Business Council (BBC) chief executive officer Elias Monage on Tuesday following the ANC NEC meetings held at Nasrec, Johannesburg, from Friday until Sunday.
15 November 2022 – Ramaphosa denies government is abandoning affirmative action amid procurement rules outrage
Amid the backlash over the government’s policy tweak which saw the rescission of Broad-Based Black Economic Empowerment (B-BBEE) as a requirement for businesses looking to trade with state-owned entities, President Cyril Ramaphosa has denied that the government is abandoning affirmative action.
14 November 2022 – Ramaphosa stands firm on BEE and transformation laws in South Africa
South Africa’s need for economic transformation is still prevalent, and broad-based black economic empowerment is here to stay, says President Cyril Ramaphosa.
09 November 2022 – Government clarifies big changes to BEE laws in South Africa
The government remains wholly committed to transformation and empowerment as envisioned in the Constitution, says Finance Minister Enoch Godongwana. The Minister made the commitment during a press briefing on Tuesday on the new Preferential Procurement Regulations (2022 Regulations) under the Preferential Procurement Policy Framework Act, 2000 (PPPFA), which he gazetted on Friday.
09 November 2022 – No change to BEE or localisation procurement objectives, says Godongwana
Government has no intention of scrapping black economic empowerment (BEE) or localisation criteria in its public procurement policy, and has dismissed recent media reports indicating otherwise. Finance Minister Enoch Godongwana stated emphatically on Tuesday that government is not deviating from its transformational and reconstruction and development frameworks
07 November 2022 – Media Statement: Preferential Procurement Regulations, 2022
The purpose of this statement is to provide clarity in light of some of the news reports that have, incorrectly, attributed the new regulations to a change in procurement as it relates to State Owned Entities, and as a wholesale scrapping of Black Economic Empowerment and local content development. This is not the case
07 November 2022 – SOEs like Eskom and Denel may not be forced to use BEE-compliant companies in future
Finance Minister Enoch Godongwana has started the process to implement new legislation that would allow state-owned companies to engage with not only BEE-compliant firms.
07 November 2022 – SA Youth Economic Council rejects Godongwana’s new BEE laws
Cape Town – The South African Youth Economic Council (Sayec) says it rejects the new legislation procurement procedures involving BEE and state-owned entities promulgated by Finance Minister Enoch Godongwana.
07 November 2022 – ‘Black people can’t be perpetual spectators in the economy’
The Black Business Council (BBC), which advocates for the interests of black entrepreneurs, has come out guns blazing against Finance Minister Enoch Godongwana for “abdicating his constitutional responsibility” when it comes to transformation, particularly state procurement.
03 November 2022 – Ramaphosa defends BEE, says it is ‘not the enemy of meritocracy’.
CAPE TOWN – President Cyril Ramaphosa has defended Black economic empowerment (BEE) and affirmative action, saying that transformation was not a replacement for being appointed on merit.
01 November 2022 – North West community oust chief, takes control of lucrative stake in Glencore Mine
Johannesburg – A mineral-rich North West community has successfully wrestled control of a lucrative stake in mining giant Glencore after accusing its chief of not accounting for millions of rands.
27 October 2022 – South Africa’s Amended Employment Equity Act Likely to Take Effect in 2023
According to a recent media statement released by the South Africa Department of Employment and Labor (DoEL), the long-anticipated amendments to the Employment Equity Act 1998 (EEA) will come into operation from Sept. 1, 2023.
21 October 2022 – Commission for Employment Equity laments slow pace of transformation in labour market
According to the commission, at the top, senior, middle and junior management, the advancement of black people, specifically, African and coloured, has been characterised by an unpredictable and staggered trajectory.
20 October 2022 – Dis-Chem debacle: Is transformation in SA regressing?
The preamble to our Constitution says we “believe that South Africa belongs to all who live in it, united in our diversity” and that we adopted it in 1996 with the intention to “heal the divisions of the past and establish a society based on democratic values, social justice and fundamental human rights”.
20 October 2022 – The Youth Employment Service in Rosebank’s partnership with bank benefits youth
Nedbank’s partnership with Rosebank’s Youth Employment Service has seen the placement of candidates in job spaces with more than two thirds taken by women.
17 October 2022 – Dis-Chem withdraws memo on barring hiring whites, but says intention remains
JSE-listed Dis-Chem has done an about turn, withdrawing an internal memorandum to staff from its founder and CEO Ivan Saltzman that called for a moratorium on hiring white people at the pharmaceutical retailer.
09 October 2022 – Big change to South Africa’s strict new transformation laws that businesses need to know about
Recent amendments to the Employment Equity Amendment Bill – which is awaiting a sign-off from president Cyril Ramaphosa – make key changes that will give smaller businesses much-needed breathing room.
06 October 2022 – Waterfall City developer Attacq scores top B-BBEE rating
JSE-listed real estate investment trust (Reit) Attacq, the developer of Waterfall City in Gauteng, has achieved a Level 1 contributor status towards Broad-Based Black Economic Empowerment (B-BBEE) after improving its rating in key elements of the scorecard, it announced on Thursday.
03 October 2022 – One of SA’s oldest BEE firms is looking for ‘lost’ shareholders
Brimstone, one of South Africa’s oldest listed empowerment companies, is looking for “lost” shareholders – in order to pay them R6.4 million in unclaimed dividends. The group says it is having trouble finding them because, when it was listed on the JSE in 1998 at R1.25 a share, there was no requirement for companies to record the basic contact details of their shareholders.
01 October 2022 – Training is the one component of B-BBEE that can fuel sizeable company growth in South Africa
Changes to South Africa’s Broad-based Black Economic Empowerment (B-BBEE) legislation are already underfoot, with the statutory process around reforming the Employment Equity Amendment bill set to last month.
26 September 2022 – Insights into the Old Mutual Bula Tsela B-BBEE deal
‘We can’t really say upfront the value of Bula Tsela, because the price at which it buys the Old Mutual shares is not known yet’: Craig Gradidge – Gradidge-Mahura Investments.
22 September 2022 – The Finance Ghost: How the Royal Bafokeng cracked the BEE code
Royal Bafokeng Holdings has been one of SA’s savviest BEE investment firms — which would make it a brilliant addition to the JSE
19 September 2022 – B-BBEE probe into Table View businessman revived as UDM steps in
Cape Town – After pressure from the United Democratic Movement (UDM), the BEE commission is revisiting an investigation into Cape Town businessman Tony Ingram for allegedly using a black woman as a front to net an estimated R300 million contract
18 September 2022 – Film company Moonlighting in B-BBEE battle
The department of trade, industry & competition (DTIC) has continued to pay millions of rand in rebates to a film company under investigation by the Broad-Based BEE Commission for allegedly misrepresenting its empowerment status..
14 September 2022 – It’s time to reassess the BBBEE framework and address areas that aren’t working
One of the biggest bottlenecks in implementing effective transformation is the incapacitation of BBBEE sector councils, writes Sanlam Gauge’s Andile Khumalo
07 September 2022 – Blacceleration: Investing in black entrepreneurship to accelerate economic transformation
South Africa is the second largest and the most technologically developed economy in Africa. However, according to the World Bank, South Africa is also the most unequal country in the world. A full report published by the World Bank states that the country’s extreme inequality is due to “inherited circumstances over which an individual has no control”. In other words, the racial inequalities of the past still continue to structure the distribution of wealth in South Africa.
01 September 2022 – Volkwagen Trust Invests R13.5m In Truck Dealership
Automotive Company Volkswagen South Africa’s (VWSA’s) Broad-Based Black Economic Empowerment (B-BBEE) Initiatives Trust Has Invested R13.5-Million In Black-Woman-Owned Heavy-Truck Dealership GardenRouteMan (GRM) Auto As Part Of Its Efforts To Transform The Automotive Supply Chain.
31 August 2022 – Strict workplace transformation rules coming for south africa – what you need to know 
The newly amended Employment Equity (EE) Act is set to come into operation on 01 September 2023, with the aim to aid workplace transformation in South Africa.
31 August 2022 – Employment and Labour on amended Employment Equity Act to aid workplace transformation in South Africa
The amended Employment Equity (EE) Act of 1998 to empower the Employment and Labour Minister to regulate sector specific EE targets and to regulate compliance criteria to issue EE Compliance Certificate in terms of Section 53 of the EE Act will come into force on the first of September 2023.
30 August 2022 – Portia Tau-Sekati on empowerment in SA’s property industry
The CEO of the Property Sector Charter Council says despite improvement to Level 4 in terms of the broad-based scorecard, much still needs to be done to transform the industry both on the BEE and women’s empowerment fronts.
28 August 2022 – No matter how small your business, it’s best to ensure you comply with B-BBEE rules
As a B-BBEE compliant small business, you will gain access to a number of favourable tax gains and be better positioned to attract more business.
22 August 2022 – Who qualifies for Old Mutual’s Bula Tsela empowerment shares?
Applications open to all black South Africans. There’s been quite some interest from parents and grandparents to buy shares for kids: Taskeen Ismail – head of corporate finance, Old Mutual.
18 August 2022 – Proposal for tougher BEE laws in South Africa as compliance dwindles
The Broad-Based Black Economic Empowerment Commission (B-BBEE Commission) has published its annual broad-based black economic empowerment (B-BBEE) trends report for2021, showing a decline in compliance and a drop in black ownership of businesses in South Africa.
16 August 2022 – Old Mutual approves new black empowerment share scheme
Qualifying Black South Africans – including lower-income earners and Old Mutual employees – will now be able to buy the insurance giant’s shares at relatively low prices through its newest black empowerment-focused ownership scheme, Bula Tsela (‘pave the way’ in Sesotho). Old Mutual shareholders approved the broad-based black economic empowerment (B-BBEE) ownership scheme on Friday, 12 August.
11 August 2022 – Level 1 B-BBEE is big step in FLSmidth’s transformation journey
The recent earning of Level 1 Broad-Based Black Economic Empowerment (B-BBEE) status was not an end-goal but a step in FLSmidth’s transformation journey in South Africa. Deon de Kock, FLSmidth President for Sub-Saharan Africa, Middle East and South Asia, emphasises that diversity, inclusion and engagement are imperatives for good business.
09 August 2022 – RAISE A GLASS TO BLACK-OWNED WINE BRANDS
It’s quite a view from where one is standing on the deck of the Wine Arc outside Stellenbosch. In front of the terrace, neatly trellised vineyards are bare of leaves in the winter sunshine; the vines resting ahead of next year’s harvest season. To the left lies the historic university town of Stellenbosch, all oak trees and charming streets framed by lush fynbos-clad peaks.
31 july 2022 – Market access, support for small farmers among issues tackled by Tiger Brands Aggregator Programme
The impact of agricultural subsidies in South Africa, market access for the products of the developing world and support for small farmers were among the issues discussed this week at the Tiger Brands Aggregator Agriculture Programme
15 July 2022 – Questions On The Socio-Economic Development Element On The DTIC B-BBEE Scorecard Are Answered By Our MD, Bridget Ntombela
Q: What Is The Purpose Of The Socio-Economic Development Element On The DTIC Scorecard?
‘This Element Is To Encourage The Private Sector To Be Part Of The Solution That Facilitates Sustainable Accessibility To The Economy. The Focus Is On The Marginalised Communities Which, In Its Majority Relate To Previously Disadvantaged Groups. This Will Then Benefit Beneficiaries Who Are Black South African Citizens In A Broader And More Meaningful Way. Contributions Consist Of Both Monetary And Non-Monetary Initiatives’, Says Bridget. 
2 June 2022 – What Is The Purpose Of The Enterprise And Supplier Development Element?
Premier Verification Is A SANAS Accredited Verification Agency. We Spoke To The Managing Director Of Premier Verification, Bridget Ntombela And Asked Her Questions
About The Enterprise And Supplier Development Element On The DTIC Generic Scorecards, Find Out What She Had To Say  
30 May 2022 – Important reporting notice for our Financial Sector Charter clients

The Financial Sector Transformation Council (FSTC) Has Issued A Reporting Notice For The Submission Of B-BBEE Compliance Reports.

24 May 2022 – B-BBEE Thresholds For The Financial Services Sector Charter

The Financial Services Sector Charter Has Various Thresholds To Determine If A Company Will Be Verified As An EME, QSE Or Generic Enterprise. These Thresholds Are Measured By The Annual Revenue Of The Company.

28 May 2022 – B-BBEE Thresholds For The Construction Sector Charter

Premier Verification Is Accredited By SANAS To Conduct B-BBEE Verifications For The Construction Sector Charter.
Should You Require A Certificate Please Contact Us On 010 591 0591.

17 May 2022 – B-BBEE Thresholds For The Property Sector Charter

The Property Sector Charter Thresholds Are To Determine If A Company Is Verified As An EME, QSE Or Generic Enterprise On A B-BBEE Scorecard. A ‘Threshold’ Is Measured By The Annual Revenue Of The Company.

16 May 2022 – B-BBEE Thresholds For The  Marketing, Advertising And Communication Research (MAC) Scorecard

The MAC Sector Charter Has Various Thresholds To Determine If A Company Will Be Verified As An EME, QSE Or Generic Enterprise. These Thresholds Are Measured By The Annual Revenue Of The Company.

16 May 2022 – DTIC B-BBEE Scorecard Thresholds

The DTIC Has Specific Thresholds To Determine If A Company Will Be Verified As An EME, QSE Or Generic Enterprise. This Is Measured By The Annual Revenue Of The Company.

05 May 2022 – B-BBEE On-Site Assessments

Now That Physical Onsites Assessments Have Resumed, All Onsite Assessments Are Required To Be Held At The Registered Address Of The Entity That Is Being Verified.

29 April 2022 – The Function Of A Company’s Annual Financial Statements In The B-BBEE Verification Process

We, At Premier, Are Often Asked Why We Request Our Clients’ Annual Audited Financial Statements (AFS) For A B-BBEE Verification.

26 April 2022 – Important Reminder To All Our Financial Sector Charter Clients

This Is A Reminder Of The Withdrawal Notice That Was Issued By The Financial Sector Transformation Council.

05 April 2022 – Affidavits For Preferential Procurement (PP) On Sector Scorecards

When Procuring Affidavits From Suppliers, Entities Must Ensure That If The Supplier Falls Into A Sector, Then The Affidavit Used Must Be Sector Specific

22 July 2019 – Bridget Ntombela’s Transformation Journey
Bridget Ntombela has been in the B-BBEE verification industry for a decade. She started with Premier in 2015 and her journey is not only inspiring but it is what we at Premier believe to be true B-BBEE transformation.

 

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