Barloworld Equipment’s performance tells a tale of two industries

The mining industry has been in the doldrums since the economic recession that swept globe seven years ago, but Emmy Leeka has not lost hope that the industry will claw its way back into profitability.

At the beginning of October this year, the veteran mining executive took over the reins as chief executive officer of Barloworld Equipment Southern Africa from Dominic Sewela, who has been appointed CEO-designate of JSE-listed distribution group Barloworld, the equipment division’s 114 year-old parent company.

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Black property players cry foul over slow pace of BEE

A lobby group has pleaded with the government to open up the R5.8 trillion property sector to its members, who are struggling to gain a foothold in the market.

The South African Institute of Black Property Practitioners says the Department of Public Works is one of the major stumbling blocks to black property entrepreneurs’ prosperity. The institute represents black landlords and property developers, who are looking to government’s black economic empowerment (BEE) policy to break into the lucrative industry. 

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Massive change afoot for black businesses in construction

 

After being bogged down in drawn-out negotiations and suffering a regulatory setback in February, the revised construction sector empowerment code has made a stunning comeback to see the light of day.

While various industry stakeholders appeared jubilant at the official unveiling of the draft code on 28 July, the sector is faced with a mountain of work in implementing the code, which its supporters say will bring racial transformation to the construction sector. 

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Black investors buy R4bn stake in major property company

Six years after quitting as the chief executive of the state-owned youth business financier Umsobomvu Youth Fund, Malose Kekana has been quietly attempting to make a major breakthrough in the property market.

The breakthrough finally materialised when it was revealed yesterday that Kekana has led a black economic empowerment (BEE) consortium that has acquired a 24% stake worth more than R4 billion in Pareto, one of South Africa’s largest retail property companies with a portfolio valued in excess of R25 billion.

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Construction body asks for extension after it fails to meet BEE deadline

Much has been written about DTI notice 39703, gazetted by the Minister of Trade and Industry on February 17 this year, which repealed the sector codes of the construction and chartered accountants' industries.

Yet the true implications of this decision by the Department of Trade and Industry (DTI) have yet to be realised. In the same way as it will affect a lot of large enterprises who could drop their broad-based black economic empowerment (BB-BEE) level contribution, the results could be equally devastating for many black-owned businesses in the construction sector as they would suddenly be expected to report according to a code they did prepare for throughout their previous financial year.

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