The codes are being amended by the Department of Trade and Industry, which has worked closely with the presidential BEE advisory council. A document containing the proposed amendments was recently presented to the cabinet.
Among the proposals is that rules relating to ownership be tightened. Analysts say this tightening may kill many bad deals.
“There are many of them (bad BEE deals) out there,” said Ajay Lalu a director of BEE consulting firm Black Lite. The new rules could trigger a new wave of BBBEE deals as corporations rushed to comply.
The document, seen by The New Age, will be released for public comment soon.
I spoke to Sibonelo about this document. What I really wanted was a copy of the document - which he politely declined to hand over. However he did confirm that he has seen both a document and the infamous presentation. He told me that the document was a work-in-progress still and was sitting on Rob's desk.
We need to be very afraid - this is not a necessary evil, it's a validation of the ANC's take on race and ethnicity.
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