Automakers seek B-BBEE ‘compromise’

The European Union
chamber of commerce and
industry in southern Africa
is set to
meet with
Minister of
Transport
Dipuo
Peters in
an effort to
establish
an equity
equivalent
programme
for major
automakers
operating
in South Africa.
Much is at stake for
the companies which are
required to give 51% of
their equity to a local
company or individual to
qualify for the maximum
25 points under ownership
in the transport sector’s
B-BBEE
scorecard.
“These
are major
automobile
manufacturers
that operate
in the local
transport
sector,”
said Stefan
Sakoschek,
regional director
of the chamber.
“They are simply not in a
position to hand over 51%
equity. Therefore they are not
able to access those points
and it affects their B-BBEE
rating significantly.”
He said in light of
this the chamber was
attempting to negotiate
an equity equivalent
programme with the
transport minister.
“This will see these
businesses contributing
large sums to a fund that
can be used to train and
create employment in
the sector. In return it
recognises some of the
equity requirements and
allows the companies at
least some of the points
allocated in this category.”
He said a meeting had
been scheduled for the
end of February where the
chamber would present its
proposal to the minister.
INSERT
Major automakers
are simply not in a
position to hand over
51% equity.
– Stefan Sakoschek