The BEE Bill closes loopholes, a move that has been long overdue

The Broad-based Black Economic Empowerment Bill closes many loopholes in the current BEE Act, a move that is long overdue.

The following are key proposals:

• The definition of black people is now clearly defined and aligned with the Constitution.
• The establishment of a BEE commission to investigate, enforce and report BEE.
• Ten years imprisonment for Fronting. The practice of misrepresenting BEE credentials is punishable by a fine or imprisonment of up to ten years. Contracts awarded to guilty companies may be cancelled.
• Listed companies to submit BEE annual reports to the Commissioner.
• The Auditor General to audit and report BEE compliance for government departments.
• Government must implement BEE codes and can ask permission for tougher measures through approved transformation policies.

The proposals are a bold move and demonstrate government’s commitment to ensure successful implementation of BEE.

Prepared by Andile Tlhoaele, Empowerment Advocate

Andile Tlhoaéle promotes BEE compliance. He is a member of the Presidential BEE Advisory Council Sub-committee on Instruments to Promote BEE, Verification and Charters. The statement is issued in his role as an advocate for empowerment.

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