Click here to download the NPAT industry norms for March 2020.
NPAT industry norms for March 2020
Commission releases annual report on B-BBEE trends
The Broad-Based Black Economic Empowerment (B-BBEE) Commission has released its annual report on the national status and trends on B-BBEE for the 2019 calendar year.
The Commission said that the report shows a 1% (43%: 2018 – 42%: 2019) decrease in the number of submitted compliance reports by JSE listed entities.
Click here to read more.
Tourism businesses urged to apply
The Department of Tourism has encouraged eligible businesses to apply for the COVID-19 Tourism Relief Fund. Read more here.
In the News: Employment Equity Amendment Bill to bring about real transformation
On Tuesday, 18 February 2020, Cabinet announced its approval of the Employment Equity Amendment Bill 2020, to be submitted to Parliament. As the Bill makes its way to Parliament for deliberation, the Department of Employment and Labour has set the ball in motion for the introduction of sector-specific Employment Equity numerical targets. Read the full article in SA News.
Click here for Government Gazette Notice. Download the Draft Public Procurement Bill here.
Business Owners: Take note of the new CIPC requirement
Financial Services Industry faces possible penalties
According to the B-BBEE Commission’s Zodwa Ntuli an analysis of compliance reports submitted by JSE-listed companies indicates that the financial sector is regressing in ownership and management control. These companies could face possible penalties for non-compliance.
Construction Sector EAP Targets clarification
Please take note of this response from the Construction Council re the application of EAP targets.
In the News: Report notes no significant changes in levels of transformation
There has been no significant change in the levels of transformation in the South African economy with black ownership declining to 25.2% in 2018, says the Broad Based Black Economic Empowerment (BBBEE) Commission, reports the SA Government News Agency.
Click here to read the full article.
Revised CA Sector B-BBEE Code Draft published
The Department of Trade and Industry, has gazetted the revised Chartered Accountancy Profession B-BBEE Sector Code (CA Charter) for public comment. The aim of the revised code is to empower and grow the number of Black people in the chartered accountancy profession.
Revisions to the Code include drastic changes to the skills development element.
Individuals who want to comment on the new CA Charter, should e-mail the DTI (for the attention of Sipho Solfafa) at cacode@thedti.gov.za by no later than 26 June 2019.
See full CA Charter here.
Draft Discussion Paper on Improving the Quality of Business Advisory Services in SA
Services SETA has released a draft discussion paper on improving the quality of Business Advisory Services in South Africa, with the aim to stimulate debate, policy consideration and strategies. See PDF document here.