President Jacob Zuma signed the Broad-Based Black Economic Empowerment (B-BBEE) Amendment Act 46 of 2013 into law in January 2014, while the new Phase 1 and Phase 2 B-BBEE Codes of Good Practice were gazetted in respectively October 2013 and October 2014.
Sector codes, including the AgriBEE Sector Code, must now be aligned with the Phase 1 and Phase 2 Codes of Good Practice by 1 May this year. Furthermore, the codes will not be phased in over a period – but they will all come into effect immediately.
But why do businesses, especially Qualifying Small Enterprises (QSEs), with a turnover of between R10 million and R50 million (which is where you will find most farming enterprises) feel as though they will have to bite the bullet and play the sacrificial lamb, while being used as a quick fix for South Africa’s social inequalities? More»
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