BEE

Old Mutual had plenty of time to work on their BEE deal, and they needed it. The elaborate plan includes all their major subsidiaries and includes a broad-based grouping of beneficiaries. 702 and Cape Talk business editor Bruce Whitfield looks at the players.

In what could be an impetus to the current economic boom, the International Investment Council (IIC)yesterday presented a glowing report on the various economic programme initiated by the government.

Bloemfontein - The Free State will host a two-day Black Economic Empowerment (BEE) conference, starting on the 28th February, aimed at creating a platform for economic growth in the province.

North West Department of Public Works says it will ensure that more women, youth and people living with disabilities benefit from the construction industry.

President Mbeki has responded in parliament to those who claim that the governmetn BEE policies are reverse racism. He has called on all South Africans to work together for a prosperous South Africa.

Fuel giant BP has announced the creation of a new black-owned and managed company to market and supply BP branded products to the commercial and industrial sector.

If black economic empowerment and other economic reforms
were not carried out, the country would not be at peace, Trade and
Industry Minister Mandisi Mpahlwa has told parliament.

KwaZulu-Natal Finance and Economic Development MEC Zweli Mkhize has pleaded with business to add value to Black Economic Empowerment to meet the needs of transformation.

Lionel October from the Dti has confirmed that there is no exemption from BEE for foreign firms and all are expected to assist in empowering the mass of the population.

Political parties have welcomed Deutsche Bank's move to
sell 25 percent of its South African operations to empowerment
groups.

Government has transferred the management of 140 000 hactres of forestland to two operators as part of its ongoing plan to restructure state-owned forests.

When Abel Naphtaly started a security company 12 years ago, little did he know that one day his consortium would one day clinch a multi-million Rand deal through which people?s lives will be improved.

More details on the small print of BEE Ratings have been released in the Dti?s Codes of Good Practice. One such detail is the addition of an extra category of success for the really high achievers.

For the first time in five years, black CEOs topped the list of most quoted managers in leading SA media, according to research conducted by Media Tenor.

The National Empowerment Fund has concluded a R5 million broad-based Black Economic Empowerment deal with a black owned tomato processing company.

North West MEC for Public Works Howard Yawa says fronting poses a great threat to the realisation of government?s vision for economic transformation.

President Thabo Mbeki has hit out at those who say they are in favour of change in South Africa, but consistently oppose the government?s attempts to bring about change through black economic empowerment and affirmative action.

Archbishop Emeritus Desmond Tutu has taken a swipe at what he calls the "small recycled elite" who exploit government's Black Economic Empowerment policy.

Meeting the minimum ownership equity requirements of BEE charters won't allow companies to forget about the other elements of the scorecard - according to Minister in the Presidency Essop Pahad.

The Gauteng Film Office has facilitated the launch of a R2-billion media fund for Black-owned small to medium and micro enterprises, through ThreadNeedle Financial Services.

Cabinet has welcomed the move by the Public Investment Commissioners (PIC) to buy a 15.1 percent stake in Telkom, saying the decision will ensure the shares revert to South Africans.

The Public Investment Commissioners have acquired a 15.1 percent stake in fixed-line monopoly Telkom after Andile Ngcaba's consortium failed to the raise the necessary funds in time.

Mpumalanga Premier Thabang Makwetla will visit the region's largest sugar producer, TSB Limited, to discuss its black economic empowerment efforts.

Finance Minister Trevor Manuel has slammed some black business bigwigs for perpetuating "elitism and individualism" at the expense of greater economic empowerment and transformation agenda of the economy.

Minister Mpahlwa has reassured the public that a BEE Code of Good Practice is on the way and that it will clarify the many question marks about how exactly BEE should be implemented.

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