BEE firms get a third of Eskom's
By Mzwandile Faniso -
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
By Neels Blom -
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
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
Late last year, government
released its code of practice on black economic empowerment, the
closest thing to legislation on BEE.
Asset managers face
By Stephen Gunnion -
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
By N Moodley -
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
By Sherilee Bridge-David -
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
By Ralph Hamann -
Black economic empowerment is a
dominant theme in South African boardrooms and the business
press. In many ways, empowerment is a uniquely South African
Indians 'need more BEE
By Patrick Wadula -
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
By Wendy Hall -
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 -
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.