The first of these proposed amendments to the B-BBEE Codes were published in March 2018 and while we were anxiously awaiting the outcome of this draft, we were hit with more changes on 15 June 2018.
For ease of reference and in order to reduce the complexity of the proposed amendments, we have outlined the salient points below:
The above-mentioned proposals are intended solely for the B-BBEE Codes of Good Practice. The DTI has provided no confirmation of how this will affect the various sector charters, nor has any feedback been received on whether it will be aligned with the above and, if so, by when this could happen. However, by aligning this to the sector charters, the relevant charter scorecards might also have to be amended as there are different targets and points for each charter.
Once incorporated into the B-BBEE Codes, the proposed amendments are likely to effectuate the implementation of 51% Black ownership transactions. We encourage our clients and other impacted businesses to contact us for specific guidance on how these amendments are likely to affect them.
About the Author: Rylan Wissing joined SERR Synergy in 2014 and currently holds the title of Gauteng BEE Assistant Manager. He is a BCom (Law) , LLB  graduate from the University of Pretoria and was also admitted as an attorney of the High Court in 2014. He has been involved with B-BBEE for the last 7 years assisting in excess of 200 Companies across South Africa with various strategies, consultation and legal compliance within the B-BBEE industry.
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