News and Views

YES INITIATIVE POISED TO MAKE A DIFFERENCE FOR YOUTH AND CORPORATES IN SOUTH AFRICA

Youth unemployment continues to be a thorn in South Africa’s side. At 38.2% in the second quarter of 2018 according to Stats SA – higher if other sources are taken into consideration – young people find it hard to make inroads into the world of work and become active members of the South African economy. Business Unit Manager of Innovative BEE Solutions, Hansie de Waal, says government is continually trying [...]

SMEs: TACKLE YOUR B-BBEE STATUS TO ENSURE LONG-TERM BUSINESS SUCCESS

Until businesses adopt transformation in a more meaningful way, government will continue to shift the legislative goalposts. Innovative BEE Solutions Business Unit Manager, Hansie De Waal, says keeping abreast of changes to the regulatory landscape can be challenging for small and medium enterprises (SMEs). “Just when they feel they are meeting the B-BBEE requirements – as they relate to their operations – the codes are amended, and certification needs to [...]

Don’t revert to BBEEE fronting to get tenders

Companies should not be compelled to adopt B-BEEE fronting to secure tenders as there are legitimate avenues to achieving the same result. This is according to Arnoux Maré, CEO of Innovative Solutions Group, who says hundreds of tenders are awarded by government institutions every year. “The tenders are linked to strict B-BEEE compliance, which is a complex and onerous process which many companies prefer to avoid. This means missing out [...]

How radical transformation measures will affect SME’s

While there has been much debate on what exactly radical economic transformation means for South Africa, many agree that the country is failing in its efforts to become a more inclusive economy. Innovative BEE Solutions business unit manager, Hansie De Waal, says an estimated 75% of companies in South Africa are not BEE compliant. “If any of these companies want to win tenders from government or parastatals such as Sasol, [...]

How to navigate the B-BBEE Codes to improve your business cheaply

“Companies concerned about how the revised codes of Good Practice will affect their scorecard rating and their business, need not be concerned, as it is feasible to intelligently increase your company rating at a negligible cost,” says Yolandie Botha, head of Innovative BEE Solutions. There are now only three compulsory categories in the Broad Based Black Economic Empowerment (B-BBEE) Codes. Two of the three codes make it possible to earn [...]