Bill heralds new era for BBBEE

Cabinet has approved the introduction of the Broad-Based Black Economic Empowerment Amendment Bill, 2012. According to SANews, the amendments seek to establish a B-BBEE Commission to deal with compliance in broadbased black economic empowerment. The intention is also to promote compliance by organs of state and public entities and to strengthen the evaluation and monitoring of compliance as well as the provision for offences and penalties, among others. Last month, Trade and Industry Minister Rob Davies said points would be deducted from companies that did not invest in skills and supplier development in terms of the Act.