BEE firms get a third of Eskom's saving pie

By Mzwandile Faniso - Business Report
Johannesburg - Eskom would spend about R100 million of its over R300 million budget for power saving projects on black economic empowerment (BEE) companies in 2004/05, Tsholo Matlala, its manager of demand side management (DSM), said yesterday.

 

Second wave may spread empowerment wealth

By Neels Blom - Business Day

There has been talk of a second wave of empowerment, but some puzzlement about what it would mean. In essence, there seems to be growing discomfort in government and the country generally about the way that empowerment has created super billionaires.

 

Past BEE targets should count as credits

Staffer - Financial Mail

By a twist of fate, AngloGold Ashanti may be a victim of its own alacrity in trying to transform. The company believes it has more than met government's black economic empowerment (BEE) equity ownership requirement through three deals it has struck since 1998. These were compliant with the rules and expectations that prevailed at the time.

 

Here's the BEE hymn book

By I Mahabane - Financial Mail

Late last year, government released its code of practice on black economic empowerment, the closest thing to legislation on BEE.

 

Asset managers face empowerment task

By Stephen Gunnion - Business Day

Empowerment transactions are likely to continue to drive corporate activity in the asset management industry this year, Alexander Forbes Asset Consultants said yesterday.

Cosmetics industry gears up for empowerment plan

By N Moodley - Business Report
Durban - As the cosmetics industry geared up for its black economic empowerment (BEE) plan, the steering committee said this week that the questionnaire that would be used to gather industry statistics was ready.

 

BEE group buys 25% of Deutsche Bank

By Sherilee Bridge-David - Business Report
Johannesburg - Deutsche Bank, Europe's third-biggest bank group, has agreed - for the first time in its history - to sell a stake in one of its subsidiaries to local investors.

 

BEE has an international counterpart

By Ralph Hamann - Business Day

Black economic empowerment is a dominant theme in South African boardrooms and the business press. In many ways, empowerment is a uniquely South African phenomenon. 

 

Indians 'need more BEE opportunities'

By Patrick Wadula - Business Day

The Congress for Business and Economics (CBE), a business chamber born from the now-defunct Transvaal Indian Congress, is pushing for more opportunities to be given to Indians under empowerment laws.

 

Barclays - Absa deal to test empowerment

By Wendy Hall - Business Day

Barclays, the UK banking group that is considering taking a controlling stake in local bank Absa, will set a precedent for foreign firms buying into South African companies with empowerment interests.

 

Big BEE deal leads the pack

By David Ball - Business Day

Timken SA, which holds an 80% market share of the R168-million rail-bearings market in South Africa, has just announced a R38.6-million empowerment deal with the Bokamoso Investments consortium.

 

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