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ARTICLE · 25 JANUARY 2005

Black Economic Empowerment

Cliffe Dekker Hofmeyr
Cliffe Dekker Hofmeyr
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Cliffe Dekker Hofmeyr

Cliffe Dekker Hofmeyr

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With the publication of the first draft Codes of Good Practice (codes) under the Broad-Based Black Economic Empowerment Act No. 53 of 2003 (BEE Act) in December 2004, the regulation of BEE has taken an interesting turn.

South AfricaEnergy and Natural Resources
Kevin Lester
Kevin Lester

Rethinking BEE Charters

With the publication of the first draft Codes of Good Practice (codes) under the Broad-Based Black Economic Empowerment Act No. 53 of 2003 (BEE Act) in December 2004, the regulation of BEE has taken an interesting turn. It would appear that those sectors that have already adopted transformation charters (petroleum, mining, financial services, maritime transport and information and communication technology (ICT)) and the sectors currently negotiating transformation charters (liquor, tourism, healthcare and agriculture sectors, among others) may well have to give some serious thought to their approach to attaining BEE compliance.

At the heart of this turn of events is the treatment within the codes of transformation charters.

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