Broad-based black economic empowerment (BEE) ownership transactions that have gone wrong are often exciting fodder for emotive news articles. But BEE ownership transactions are fundamentally the same as any other ownership transaction and shareholder selection process that would be undertaken in the ordinary course. However, a lack of understanding of the regulatory framework often creates
Amber Kardamilakis
Essential service businesses, have you received an updated certificate from CIPC?
By Ugendran Odayar & Amber Kardamilakis on
Companies which are registered to perform essential services during the lockdown should have by now received a new certificate from the Companies and Intellectual Property Commission (CIPC) for the extended lockdown period. The old certificates are no longer valid and will have to be disposed of.
The new certificates should be automatically emailed to companies…
SA websites must be updated to have a link to government’s COVID-19 site
By Ugendran Odayar & Amber Kardamilakis on
To promote the dissemination of real time public information (and to help in combatting the spread of fake news), internet sites operating within za Domain Name Authority (.zaDNA) top level domain name must be updated to include a landing page with a visible link to www.sacoronavirus.co.za.
.zaDNA is the statutory regulator and manager of…
10 things to know about BEE and COVID-19
By Amber Kardamilakis on
COVID-19 is affecting businesses globally. However, its impact on the broad-based black economic empowerment (BEE) status of a business is an effect which is unique to South Africa.
Here are 10 things to know about the potential effects of COVID-19 on BEE and your business:
1. BEE verifications can still be conducted
The South African…
BEE verification process amended to cater for COVID-19
By Ugendran Odayar & Amber Kardamilakis on
Like many other changes being experienced by companies as a result of COVID-19, the requirement for an on-site visit as part of the BEE verification process prescribed by the South Africa National Accreditation System (SANAS) has been amended to take into account COVID-19.
Prior to COVID-19, SANAS required BEE verification agents to verify and evaluate…