Sasol Khanyisa BEE Scheme Under Fire

Wednesday, 22 November 2017 12:50

The Broad-Based Black Economic Empowerment (B-BBEE) Commission has raised issues related to Sasol’s new Khanyisa empowerment scheme, Sasol company secretary Vuyo Kahla said on Friday.

The commission raised questions about the structure of Sasol Khanyisa’s employee share ownership programme as well as whether the Sasol Foundation was an appropriate vehicle for getting ownership credits, he added.

African Infrastructure Investment Managers (AIIM), a subsidiary of Old Mutual, has been accused of racism, intolerance and prejudice towards its female employees of colour.

Four women, who asked to remain anonymous for fear of further victimisation, wrote to Old Mutual two weeks ago to voice their concerns about about what they termed “bullying” and which they say the company had not responded to until on Thursday evening after the Cape Times sent Old Mutual questions.

The Broad-Based Black Economic Empowerment (B-BBEE) commission plans to issue about 50 preliminary and final findings against companies for contraventions of the B-BBEE act, according to commissioner Zodwa Ntuli.

By nature and convention, businesses struggle to be altruistic. The profit motive is built into legislation all around the world. Profit is hard-won and ‘giving it away’ is counter-intuitive.

It takes a fresh way of looking at things to enable business to automatically serve a social need while doing business as usual.

White Monopoly Capital No PR Ploy

Tuesday, 26 September 2017 13:33

Recent revelations by the Statistician-General Pali Lehohla on poverty and economic growth trends clearly show that indeed there is still validity in calling for total economic transformation in South Africa.

Lehohla’s assertion that more than 30 million South Africans live in poverty should make us stand up and do more to address the poverty and social inequality time bomb in our midst.

Thanti Mthanti, University of the Witwatersrand

South Africa suffers from high levels of poverty, racism and inequality. This can be almost entirely attributed to centuries of conflict between white settlers and indigenous Africans. Apartheid reduced black Africans to the periphery of the economy. Many were condemned to landlessness and poverty.

New Generation Mindset (NGM), a Johannesburg-headquartered enterprise development and social economic development consultancy, has put out a call for black-owned tech startups to join its incubation programme in the Western Cape.

NGM says on their website that they aim to create an enabling environment for sustainable businesses and boost the government's efforts to create a more inclusive economic participation, especially for the previously disadvantaged individuals and communities, through Enterprise and Supplier development.
"Our strategic focus is on two areas of intervention: Enterprise Development and Social Economic Development, scoring the client weighted points in two codes of the B-BBEE scorecard for their single investment."

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