Future of black entrepreneurs is looking brighter

Prospects are looking bright for black entrepreneurs who have been attempting to make a breakthrough in the private sector but have been hitting a brick wall.

Their misfortune is on the cusp of being reversed, thanks to the revised broad-based black economic empowerment (BB-BEE) Amendment Act of 2015 and its accompanying BB-BEE scorecard, which measures empowerment progress in the corporate sector. The amended legislation is exerting pressure on procurement and supply chain departments of large corporates to open up opportunities to black suppliers.

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SA's leading PR firm sells 51% stake to black executive directors

Vuma Reputation Management is the latest firm to up its empowerment credentials in order to comply with the empowerment charter in the marketing, advertising, and communications (MAC) sector.

Vuma joins a throng of companies that have concluded broad-based economic empowerment (BB-BEE) transactions in line with the sector’s charter, which has set a target of 45% black equity ownership by March 2018.

The Johannesburg-headquartered reputation and crisis management company has sold a 51% empowerment stake to three executive directors of the company for an undisclosed amount.

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Sasol points to vendor financing as holy grail of BEE funding

Hard lessons have been learnt from the last two waves of black economic empowerment (BEE) transactions, dating back to the late 1990s. Previous incarnations of BEE have highlighted the importance of structuring BEE financing in a way that boosts investors’ chances of generating value from their investments.

Observers of BEE policy have in the past questioned the manner in which such transactions were financed and structured, arguing that expensive and inflexible funding eroded value for black investors, particularly investments that are caught up in under-performing sectors with depressed share prices and earnings.

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BEE bug bites South African advertising industry

The implementation of the black economic empowerment (BEE) charter in the marketing, advertising and communication (MAC) industry is jolting owners of established white-owned South African and multinational agencies into action.

A few BEE deals have been concluded this year as the MAC industry attempts to overturn its notorious image of being a resistor of transformation and marginaliser of black professionals. The industry is also racing against the clock to meet a 45% black ownership target by 31 March 2018, which is stipulated in the MAC charter that was gazetted in April last year by Trade and Industry Minister Rob Davies. 

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Gender equality holds key to boosting economic performance

In recent years, gender equality has made it to the top of the agenda in corporate boardrooms.

From decision-makers to foot soldiers, companies are being challenged by policy makers and gender activists to boost women’s representation across all levels in their operations.

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