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

This article first appeared on 702 : DTI shocks SA Inc. with BEE “clarification notice”


Recommended

by NEWSROOM AI
Read More
How to build a business that will survive constant technological change

How to build a business that will survive constant technological change

The Money Show’s Bruce Whitfield interviews Pavlo Phitidis, founder of Aurik Business Accelerator.

How to pay up to 45% less tax (and save the SA economy while you’re at it)

How to pay up to 45% less tax (and save the SA economy while you’re at it)

The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.

Will Government hit punch-drunk South Africans with more tax hikes in 2019?

Will Government hit punch-drunk South Africans with more tax hikes in 2019?

Revenue collections are surprisingly good, so far, thanks to the VAT hike. Bruce Whitfield interviews PwC's Kyle Mandy.

9 tough questions you should never be afraid to ask your financial advisor

9 tough questions you should never be afraid to ask your financial advisor

Times are tough. Don’t spare her feelings! You must ask these questions of your advisor, implores Galileo Capital's Warren Ingram.

'Sars eFiling is stable, at the moment'

'Sars eFiling is stable, at the moment'

Testimonies at the Sars Inquiry has many South African taxpayers panicked. Bruce Whitfield interviews Sars' Mark Kingon.

SA’s two richest people have wealth equal to the poorest 26.5-million - Oxfam

SA’s two richest people have wealth equal to the poorest 26.5-million - Oxfam

South Africa is a country of breath-taking wealth and life stealing poverty, according to an Oxfam report on extreme inequality.

Popular articles
News24 exposes how big SA corporates are funding fake news

News24 exposes how big SA corporates are funding fake news

A News24 investigation has exposed how some of South Africa's biggest companies have been advertising on fake news websites.

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Premier Helen Zille describes Yach as one of the most generous, warm, open-hearted and community-driven people she's ever known.

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

[WATCH] Man exposes people selling stolen goods on Facebook

[WATCH] Man exposes people selling stolen goods on Facebook

Anton Fourie says he used his phone to record the interaction to create awareness of what is going on in the community.

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Malema has accused the rogue unit of still being operational and Pravin Gordhan of working in the background against the EFF.

Funny Cape fashionista Nadia Jaftha making waves with her mom

Funny Cape fashionista Nadia Jaftha making waves with her mom

Fashion blogger Nadia Jaftha takes fans through her serious love of style, as well as her silly moments with sidekick mom, Nawal.