News & Resources

A few years ago, our company entered into a BEE transaction with BEE partners to address our ownership. In the transaction documents, restrictions were imposed on the BEE partners that they could not sell or encumber their shares for a period of at least ten years. These lock-in provisions were a necessary part of the financing and overall transaction. With the current difficult economic times, our partners want to sell a portion of their shares and are disputing the validity of our lock-in provisions. Are lock-in provisions legally enforceable?

I’m the procurement manager for our company. We have a strong focus on BEE in our business and take great care in our procurement and the BEE position of our suppliers. Accordingly, I have noticed from the BEE certificates of many of our suppliers that they do quite poorly with their priority elements. This is strange, given the risk of dropping levels for non-compliance with these elements. Maybe the priority elements have not had the desired impact envisaged by their introduction?

My business processes and stores quite a large amount of information relating to our clients. We are well aware of POPIA that has now come into effect and have been putting basic processes in place. However, I remain concerned that we are not doing enough/underestimating our obligations. What should I be preparing for?

With all the Covid-19 happenings dominating the media lately, it nearly slipped through that some of the remaining provisions of the Protection of Personal Information Act came into effect on 1 July 2020. Does this mean that all businesses must now comply?

I am a restaurant owner and my business has been adversely affected by the Covid-19 pandemic. I want to apply for relief funding, but I heard that my business needs to be B-BBEE compliant in order to qualify for such. How important is B-BBEE compliance in accessing relief assistance for my business?

Our company has for years prided itself on regular board and shareholder meetings as the basis for the success of our business. Initially we stopped due to the Covid-19 pandemic but have started meeting again using online meeting tools. With the pandemic continuing we are worried that we are not meeting the requirements of the Companies Act by not meeting in person. We have no other choice right now. Is it acceptable from a compliance perspective?

I’ve seen a lot of reference in the media about new tax measures that Government wants to implement to cushion the blow of the Covid-19 pandemic. What are these and how can they benefit me and my business?

I understand that POPIA requires me to give consent for the use of my personal information and that a business cannot use my information without such permission. Although I am in favour of this approach, I was just wondering if I will now have to give consent every time or will I be asked to give consent once, but then it stays in place for ever? I don’t want to be bombarded with requests but at the same time I don’t want to be held to a consent I can hardly even remember giving. How is this going to work?

My business and prospects during the COVID-19 lockdown has all but died. My BEE consultant has however contacted me to remind me that it is time to renew my BEE certificate. Is it really worth doing so in this time?

Our company will probably go over the R50 million mark this year. This will require us to verify as a Generic enterprise under the DTI BEE Codes of Good Practice. I am very concerned about the impact this will have on our BEE level, as I have heard that the procurement element in particular can lead to getting a lower BEE level. Is there anything I can prepare for with our company’s procurement to avoid such a situation?

I’m the principal of a small real estate agency that I started with my wife. Our turnover is about R4 million a year and I have 10 people, mostly agents, working for us. We are all aware of the new Property Practitioners Act. However, I understand that there are also BEE implications for small property agencies like mine? I’m very concerned about this and wonder if you could explain how it will affect my agency.

I run a small accounting firm. We have always tried to be as BEE compliant as possible given our economic realities. I understand that a revised BEE charter for the accounting profession has been released for comment which introduces some key changes for our industry. Is this true?