Johannesburg - The Labour Department has warned companies and institutions that do not comply with the Employment Equity Act that they can soon lose up to 10 percent if they do not adhere to the legislation.
Cape Town - Blacks and women are still getting a raw deal from employment equity transgressors, whose incompliance has led to the slow pace of transformation in the workplace.
Officials from the Department of Labour and the Commission for Employment Equity (CEE) blamed this on intransigent attitudes and mentalities by employers, as well as institutionalised discrimination.
Diversity within the film industry isn’t just a problem unique to America. The precipitation of criticism rained down in expected places like Great Britain, and it has also made its way to South Africa.
While the “Rainbow Nation” is the last place diversity within the film industry should be an issue — considering most actors, directors and writers there are Black — the entertainment content is still being controlled by white ownership. This does not reflect the racial makeup of the country, which is majority black and minority white.
One of the first steps towards owning your own business is securing a company name, registering the company with the Companies and Intellectual Property Commission (CIPC) and getting the necessary documentation in place. At this point you typically also need to open a bank account for the business.
Nedbank says they have now combined these two steps to facilitate a seamless process.
Nedbank, in conjunction with the Companies and Intellectual Property Commission (CIPC), has unveiled ‘CIPC Online’, a fully automated service that enables business owners to register a business and open a business bank account.
Fighting for the top spot as best employer has for years been a big trend in Europe and North America, with companies realising that their employees are crucial for corporate success and that the welfare and sustainability of their businesses also rely on how well their employees are treated and looked after.
Many South African companies are now also embracing this trend, realising the enormous benefits for all parties involved. And it has been proven that if companies indeed want to attract the best skilled professionals, they need to have a good reputation in the market place when it comes to looking after the people working for them. We often hear people say: “It’s a good company to work for.”---or the opposite of that.
Last week Wednesday South African company ZAR X announced that it had been granted a conditional stock exchange licence by the Financial Service Board (FSB). The licence, which took around a year to attain, allows ZAR X to launch South Africa’s second independent stock exchange and provides both investors and companies an alternative to the well-entrenched Johannesburg Stock Exchange (JSE) – which has monopolised the market for decades.
These township entrepreneurs have put their skills and financial resources together to produce what could arguably be South Africa's first black-owned vodka empire.
For the past three years, Sibusiso Sibisi and his four friends from Kagiso on the West Rand, had been working hard to create their own brand of premium vodka called Distinkt.
It will be launched in September.
It’s official. The Johannesburg Stock Exchange (JSE) is no longer the only game in town.
ZAR X announced on Wednesday that the Financial Services Board has granted it a stock exchange licence that enables the company to operate as such, providing a cheaper alternative to investors and companies looking to raise capital.
ZAR X CEO Etienne Nel, says it is a momentous occasion for the inclusion of lower-income individuals who otherwise have limited opportunities to participate in South Africa’s equities investment landscape.
THE government, the financial services industry, industry charters in general and verification agencies are all contributing to the continuation of fronting, delegates at the Broad-based Black Economic Empowerment Commission conference on fronting say.
Fronting refers to misrepresenting a business as black-owned and run in order to secure contracts, although the real decision-making is done by white people, who also reap the financial benefits. Fronting is a criminal offence under the recently amended Broad-based Black Economic Empowerment (B-BBEE) Act.
Deputy Minister of Trade and Industry Mzwandile Masina says one of the factors contributing to the slow pace of economic transformation in South Africa is “fronting”, where businesses pretend to be BEE compliant but don’t actually benefit black people.
Volkswagen Group South Africa (VWSA) has invited black-owned suppliers to participate in its first ever black-owned suppliers’ day.
The event will take place at the VWSA PeoplePavilion in Uitenhage, in the Eastern Cape, on Thursday, May 5.
Successful applicants will have the opportunity to display their products and services to VWSA, the company’s suppliers and other automotive manufacturers, with a possibility of securing contracts.
The Department of Trade and Industry (DTI) and the BBBEE Commissioner held a conference on Tuesday 29 March 2016 to help black-owned businesses implement the Broad-Based Black Economic Empowerment (BBBEE) Act correctly and to counter BBBEE fronting practices.
Held in Midrand with “Do it right and lead from the Front on Empowerment” as its theme, the conference also provided the overview of the BBBEE Act and the recently launched Black Industrialists Programme as interventions by government to drive economic transformation.
Deputy President Cyril Ramaphosa has promised Black business that the government will spend billions on Broad-Based Black Economic Empowerment in the coming years.
“We are going to intensify BBBEE. We are going to sharpen our teeth and determination when it comes to unemployment. We expect that our Black industrialists will have up to R24 billion made available to them to redefine the way business is done in our country,” he said at an ANC summit for academics and professionals in Johannesburg on Wednesday night.
Ramaphosa encouraged Black business to bring their ideas to the ANC. He then asked them to open their wallets to support the party’s local government elections campaign.
Ramaphosa said the time of white business monopolies was over. Government was hell-bent on making sure Blacks owned and managed the economy.
Hot on the heels of International Women's Day, The Deputy Minister of Tourism, Tokozile Xasa, proudly launched the Executive Development Programme at the UNISA Graduate School of Business Leadership today.
As outlined in the National Development Plan (NDP), socio-economic transformation policies and programmes is aimed at steering the economy on an inclusive growth path. Tourism is one of the key economic pillars and contributes significantly to the GDP and job creation.