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    10Dec, 2025
    Minister Parks Tau Announces a Two-Phase Review of B-BBEE: What This Means for Your Business

    South Africa’s transformation journey continues to grow and evolve, and this time it comes with an important update from government. On 26 November 2025, Minister of Trade, Industry and Competition Parks Tau shared in Parliament that a two-phase review of the Broad-Based Black Economic Empowerment framework is officially underway.

    This announcement carries real meaning for every organization working to build a fair and inclusive economy. At EconoBEE, we always keep our clients and readers updated on what is happening in the transformation space, and this development is a significant moment for all of us.

     

    Why The Review Matters

    When Minister Tau spoke in the National Assembly, he reminded the country that empowerment is still one of the strongest tools we have for building an economy that serves everyone. He explained that broad based economic empowerment plays an essential role in creating jobs, strengthening local supply chains and ensuring that economic benefits reach communities that have long been left behind.

    His message was clear. Transformation is not slowing down. It is becoming more focused, more deliberate and more aligned with the realities South Africans face today.

     

    Phase One: Strengthening What Already Exists

    The first part of the review focuses on improving and refining the current legislation. Minister Tau shared that this phase will be completed before the end of the financial year.

    This stage aims to clean up the smaller but important aspects of the framework. It includes clearer regulations, stronger enforcement, better alignment across sector codes and tighter rules to close the gaps that cause confusion for businesses.

    For companies, this means a more stable and predictable BEE environment that is easier to follow and easier to plan around.

    Phase Two: Preparing For Long Term Changes

    The second phase is the deeper, long-term review of the BEE Act itself. Minister Tau explained that it is important to look at the Act in the context of South Africa’s changing social and economic environment.

    This stage could lead to updates to the principles of the Act, new approaches to ownership, further alignment with national development priorities and a stronger link between transformation and economic growth. It will include consultations with industry and the public, which means the business community will have an opportunity to participate in shaping the future of BEE.

     

    What This Means For Your Organization

    This announcement is not just a policy update. It is a reminder to every business that transformation remains a priority for the country. Here is what your organization should start thinking about:

    • Review Your Current Compliance

    Make sure your Employment Equity, Skills Development, WSP and ATR submissions, and BEE strategies are all up to date. 

    • Strengthen Your Internal Transformation Plans

    Your long-term approach matters. This includes EE alignment, training and development, enterprise support and meaningful economic participation. 

    • Stay Close To Legislative Updates

    The next year will bring changes. Being proactive rather than reactive will work in your favour. 

    • Work With A Trusted Partner

    Complex legislation becomes easier when you have experts guiding you. That is what we do every day at EconoBEE.

     

    A Moment Of Opportunity

    Minister Parks Tau’s announcement arrives at a time when South Africa is actively working to create a more inclusive and dynamic economy. The two-phase review shows a clear commitment to strengthening the impact of transformation and ensuring that BEE continues to support meaningful change.

    As these developments unfold, we remain here to support you, guide you and help you keep your organization future ready and fully aligned with transformation goals.

    If you need help understanding how this review may affect your business or you want to strengthen your compliance approach, our team at EconoBEE is ready to assist you.

    31Jan, 2025
    R100 Billion Transformation Fund: Advancing Inclusive Economic Growth

    The Department of Trade, Industry and Competition (DTIC) has introduced the R100 billion Transformation Fund, an ambitious initiative aimed at addressing South Africa’s economic disparities and fostering inclusive growth. Managed through the National Empowerment Fund (NEF) via a Special Purpose Vehicle (SPV), the fund aims to empower historically disadvantaged individuals and Small, Medium, and Micro Enterprises (SMMEs).

     

    Financing The Vision

    The fund will be financed through several mechanisms aligned with the B-BBEE Codes of Good Practice:

    • Enterprise and Supplier Development (ESD): Businesses are required to allocate 3% of their annual Net Profit After Tax (NPAT) toward supporting black-owned suppliers. Contributions to the Transformation Fund will count toward compliance with this ESD element. However, it remains unclear whether these contributions will be mandatory to the exclusion of other ESD or SD beneficiaries. Clarity on this point is awaited from the DTIC.
    • Equity Equivalent Investment Programme (EEIP): Multinationals will allocate 25% of their South African operations’ value to the fund, fulfilling ownership compliance requirements under the B-BBEE Codes.
    • Public Interest Commitments: Contributions will also be sourced through merger agreements that address transformation goals as mandated by the Competition Act.

    While no exact launch date has been announced, the DTIC has indicated that the fund will be managed via a Special Purpose Vehicle within the National Empowerment Fund, suggesting active development is underway.

     

    Who Stands to Gain?

    The fund targets a broad spectrum of beneficiaries, including:

    • Black-owned businesses.
    • Women, youth, and people living with disabilities.
    • Enterprises in rural and township economies.

    These groups face unique barriers to entry into mainstream markets, such as limited access to funding and systemic inequalities. By addressing these challenges, the fund aims to unlock their potential and promote their economic participation.

     

    Purpose and Impact

    At its core, the Transformation Fund seeks to:

    • Provide tailored financial support through equity funding, debt, and grants.
    • Facilitate the participation of black-owned enterprises and SMMEs in value chains.
    • Address unemployment, inequality, and poverty, aligning with the National Development Plan Vision 2030.

    Supporters praise the initiative for its clear alignment with national goals. They believe the fund will foster a more inclusive economy, promoting sustainable growth and addressing pressing socio-economic challenges.

     

    Balancing Hope and Skepticism

    While the potential impact of the fund is undeniably significant, questions about implementation remain. Some skeptics worry about the risk of mismanagement and whether funds will reach intended beneficiaries. Others highlight the challenge of balancing corporate contributions with maintaining competitiveness in a globalized market.

    Yet, the fund’s design—emphasizing partnerships between public and private sectors and compliance with B-BBEE Codes—offers a promising framework to mitigate these risks. By fostering accountability and transparency, the initiative could set a precedent for effective, large-scale transformation efforts.

     

    Looking Ahead

    The R100 billion Transformation Fund represents an important step toward creating a more equitable economy. It challenges businesses and stakeholders to align their strategies with transformation objectives, contributing to a collective vision of inclusion and shared prosperity.

    While the road ahead may be complex, the fund’s potential to drive meaningful change makes it a landmark initiative in South Africa’s ongoing journey toward economic justice.

     

    7Aug, 2024
    Reflecting on National Women’s Day

    Let’s Celebrate This Year’s National Women’s Day by

    Empowering Women in Corporate South Africa

     

    As we approach National Women’s Day this Friday, we wish to take a few minutes of your time to reflect on the incredible contributions and achievements of women in the corporate world. Women, especially young black women, continue to face significant challenges in the workplace or corporate, but their resilience and determination are driving meaningful change.

     

    Partner with EconoBEE

    We invite you to partner with us in this mission as we specialize in helping businesses transform and become more diverse. Our comprehensive B-BBEE consulting services are designed to support companies in achieving their transformation goals, fostering an inclusive workplace, and driving sustainable growth. We understand that every business is unique, and we tailor our services to meet the specific needs and challenges of our clients. From strategy development to implementation and compliance, we provide the expertise and support necessary to navigate the complexities of B-BBEE and achieve meaningful, long-lasting change.

    Let’s work together to create a future where every woman has the opportunity to succeed and contribute to the success of our economy. Empower women, empower South Africa.

    For more information on how we can assist your business in achieving its transformation objectives, please visit our website (www.econobee.co.za) or contact us directly at 011 483 1190.

    Together, we can make the difference.

     

    The Importance of Empowering Women

    Empowering women is not just a matter of equality—it’s a catalyst for the needed transformation and growth. Companies that prioritize diversity and inclusivity see tangible benefits, from increased creativity to improved financial performance. When women are empowered, they bring unique perspectives and ideas to the table, this can lead to innovative solutions and approaches. Despite these advantages, many women still encounter barriers that hinder their professional development, including gender biases, lack of mentorship, and limited access to leadership roles. Overcoming these challenges requires a concerted effort from all sectors of society, including businesses, to actively promote gender equality and provide supportive environments where women can thrive.

     

    Promoting Inclusion and Transformation

    EconoBEE believes that true transformation starts with creating opportunities for women to thrive. By fostering an inclusive corporate culture, businesses can tap into a wider talent pool and promote a more dynamic and competitive environment. Inclusivity means more than just having women in the workplace; it means ensuring that women have equal opportunities for growth, are heard, and are valued for their contributions. This involves implementing policies and practices that support work-life balance, offer career development programs, and create safe spaces where women can voice their ideas and concerns without fear of discrimination. Companies that embrace these values not only benefit from diverse perspectives but also build a reputation as employers of choice, attracting top talent across the board.

     

    Supporting Young Black Women

    Young black women, in particular, face unique challenges in the corporate sector. Addressing these challenges requires a commitment to equity and a willingness to implement policies that support their professional journeys. This includes mentorship programs, leadership training, and creating pathways for career advancement. Providing access to resources and networks that young black women might otherwise find difficult to obtain is crucial in leveling the playing field. Mentorship can play a significant role in this regard, offering guidance, support, and role models who can inspire and motivate the next generation of leaders. By investing in the development of young black women, companies not only contribute to social justice but also gain from the fresh perspectives and talents these women bring to the table.

    8May, 2024
    Update on Transport and other Codes + Free Webinar!

    Welcome to our latest newsletter, join us as we explore the dynamic Transport Sector codes and briefly discuss the latest with the Property Sector codes.

    Consider this a warm-up to our free upcoming webinar on the 17th of May, where we’ll delve deeper into the state of Transport Sector Codes– want to Attend? Click here

    In the intricate tapestry of economic empowerment, sector codes stand out as guiding beacons, illuminating pathways towards inclusivity and growth within specific industries.

    At its core, the B-BBEE Transport Sector Code is a strategic blueprint, crafted to promote the inclusion of Black individuals and businesses across the multifaceted realms of transportation. From land to air, and sea, this code navigates through the diverse corridors of the industry, setting forth measures and targets aimed at unlocking opportunities and dismantling barriers to entry.

     

    Why is it important to maintain compliance with the sector codes?

    Many beneficial government contracts and procurement opportunities require B-BBEE compliance and companies failing to meet these standards or are non-compliant may be excluded from accessing significant market opportunities.

    Maintaining compliance enhances a company’s reputation and credibility, fostering trust among stakeholders and potentially leading to increased customer loyalty and investor interest.

    Additionally, compliance with B-BBEE regulations often involves initiatives aimed at skills development, employment equity, and workplace diversity, which can enhance employee engagement, retention, and productivity.

     

    Property Sector Codes: Government’s Focus Shifts to Real Estate Agents

    Reflecting on Dr. Muriel Mushariwa’s analysis from last year, the property sector’s slow transformation despite nearly three decades of democracy is evident. According to the Sanlam Transformation Gauge, the sector improved marginally to level 4 recognition in 2023. Dr. Muriel highlighted areas of progress, such as Enterprise and Supplier Development (ESD) and Skills Development, but underscored persistent challenges in ownership and management control. (Explore more insights here)

    The government is now focusing on real estate agents and “property practitioners” with regulations such as skills development filings and minimum points needed for certification. This is a change from earlier vague calls for transformation. Contact us for more information related to these important changes.

     

    About the anticipated new Integrated Transport Sector Codes

    The Department of Transport has recently announced its plans to introduce the Integrated Transport Sector Codes. The main goal is to encourage and monitor the involvement of black-owned businesses and individuals in the transportation sector, aiming to level the playing field and create more opportunities for historically disadvantaged players in the industry.

    With no transitional period planned for the implementation of the Sector Codes, companies in the transport sector need to familiarize themselves with these changes and work towards compliance to contribute to a more inclusive industry.

    In light of these developments, we’re excited to invite you to a special webinar where we’ll delve deeper into these changes and discuss their potential impact on the transportation industry. Join us on the 17th of May to learn more about how these changes could shape the future of transportation in our country!

    28Mar, 2024
    Game-Changing Seminar and more

    Understanding the Transition from SETA to QCTO Qualifications

    In our previous newsletter, we alluded to the significant shift from Sector Education and Training Authorities (SETAs) to the Quality Council for Trades and Occupations (QCTO). Established in 2010, the QCTO represents a pivotal change in South Africa’s education landscape, focusing on standardized qualifications across all sectors through the Occupational Qualifications Framework (OQF).

    Unlike SETAs, which were sector-specific, the QCTO’s approach ensures mobility and recognition in the job market. Learnerships under the QCTO emphasize a structured approach, including knowledge components, practical training, and external assessments. With the transition already underway, learners have until June 30, 2027, to complete their existing programs.

    Are you unsure of what this transition will mean for your business or existing learnerships? Give us a call!

     

    Awaiting Clarity: Updates on Transport Sector Charter Changes

    Since our update about the announcement of potential changes to the Transport Sector Charter (TSC), stakeholders have eagerly anticipated further details. Despite initial buzz, regulatory silence has left the industry in suspense. Speculations abound regarding the amendments, ranging from ownership calculations to employment equity initiatives.

    The speculated changes hint at a transformative shift, emphasizing inclusivity and sustainable development within the sector. Businesses are poised for adaptation, recognizing the importance of staying abreast of regulatory shifts. As the industry awaits clarity, proactive engagement and strategic planning will be essential for navigating this evolving landscape.

     

    Plus, Get Ready for Something Big: B-BBEE Seminar & Transport Sector Buzz!

    Buckle up for some exciting updates! We’re bringing you the lowdown on our upcoming B-BBEE seminar and the latest buzz from the Transport Sector. We recently got the inside scoop on the QCTO transition, and we’re pumped to share the insights with you. But hey, we’re not stopping there—our seminar is gearing up to be a game-changer!

    Picture this: A dynamic seminar packed with expert speakers, interactive sessions, and all things B-BBEE. From decoding the scorecard to uncovering growth opportunities, it’s all about empowering you to thrive. Plus, keep your eyes peeled for updates on the Transport Sector Charter—because change is on the horizon, and we’re here to help you navigate it like a boss.

    So, mark your calendar, spread the word, and get ready to dive into the action. Whether you’re a B-BBEE newbie or a seasoned pro, this seminar is your ticket to success. Don’t miss out—join us and let’s make waves together!

    Contact us now on 011 483 1190 or email info@econobee.co.za to book your spot.

    5Mar, 2024
    March Musings: 3 Months into 2024!

    We have only just begun the third month of 2024 and yet what a busy year it has been; from increases to renewals and a draft thrown in for good measure 😉 – here is a summarised look at what has transpired thus far:

    • EE News: Employment and Labour Minister TW Nxesi introduced new draft regulations in Feb 2024, addressing sectoral numerical targets (Click here to see our newsletter on this topic) Comments are due by the second of May 2024.
    • Minimum Wage Increase: Effective from the first of March, the National Minimum Wage (NMW) for each ordinary hour worked will increase to R27.58. There are some exceptions, so please click here for more information on this.
    • Renewal to the Section 12H Tax Incentive: The recent Budget Speech confirmed that the Section 12(H) Learnership Tax Incentive has once again been extended, this time by three years, until the thirty first of March 2027. Want this benefit for your company? Then call us now on 011 483 1190 and speak to us about our Learnership offerings that provide a range of benefits, are aligned to skills development and include various B-BBEE advantages for companies!

    What has the next few months got in store for us?

    Well, it’s anyone’s guess 😉 Seriously though, we have heard rumblings about QCTO and Transport Sector Codes and so both will be discussed in more detail in future newsletters:

    • QCTO: According to recent reports, the last date of registration for all ‘historical’ (read not-QCTO) qualifications is the thirtieth of June 2023, with a phase-out period of one year for learners to still enrol up to and including the thirtieth of June 2024. Providers offering learnerships, and other skills development programmes, need to ensure accreditation so that they can move over to the QCTO framework ASAP. This is especially important for companies that rely on both of above for B-BBEE level points.
    • Transport sector codes: Expected to be gazetted around March 2024, the Transport Sector Charter (TSC) is set for some big amendments. And, unlike previous other sector and other Code amendments, the TSC has not provided a “grace period” for transitioning. This is very concerning as this may result in some companies obtaining unfavourable B-BBEE status due to the lack of additional planning time.

    As the industry awaits clarity on above, one thing is clear: Adaptation will be crucial for success in the evolving regulatory landscape. Stay tuned for updates as we decipher the implications together.

    Last but not least . . . we want to end off this newsletter discussing our new look at Training and Workshops!

    We are ramping up our webinar offerings and workshops, and will be providing more information on this soon.

    In the meantime, book your space now for our not-to-be-missed Skills Development submissions workshops in March and early April!

    31Jan, 2024
    Uncovering Potential: Youth Empowerment at EconoBEE with the Y.E.S Initiative!

    Dive into the inspiring journey of Thabo Nkosi, a dynamic individual who has embraced the transformative power of the Youth Employment Service (Y.E.S) Initiative at EconoBEE.

     

    🌟 Introducing Thabo Nkosi: A Visionary from Alexandre, Johannesburg

    A 20-year-old ace from Alexandre, Johannesburg, whose experience at EconoBEE has been nothing short of inspiring.

    Now here’s how our short conversation went with Thabo:

    Q: What motivated you to join the Y.E.S Initiative program and work at EconoBEE? A: “I was motivated to join the Y.E.S Initiative program and work at EconoBEE because of the organization’s commitment to fostering youth empowerment. The program’s focus on providing opportunities for young individuals aligns with my desire to contribute meaningfully to the workforce and gain valuable experience in the corporate world. EconoBEE’s dedication to skills development and empowerment was a compelling factor that drew me to the initiative, plus I loved the fact that it was a 100% black-owned entity.”

    Q: How have your career aspirations evolved as a result of your experience (so far) at EconoBEE? A: “One significant experience that profoundly impacted both my personal and professional growth at EconoBEE was taking part in the workshop aimed at educating clients more about the benefits of being B-BBEE compliant. This project required collaboration across departments, honing my teamwork skills. The challenges encountered during this initiative taught me the importance of adaptability and effective communication.”

    Q: In what ways do you believe programs like Y.E.S can bridge the gap between education and employment for young talent in South Africa? A: “Programs like Y.E.S play a crucial role in bridging the gap between education and employment for young talent in South Africa. By providing practical work experience and exposure to real-world challenges, these initiatives equip young individuals with the skills and knowledge necessary for a successful transition into the professional arena. Additionally, Y.E.S fosters a culture of mentorship and guidance, further enhancing the development of young talent and preparing them for the demands of the workplace.”

    Q: What advice would you offer to other young individuals considering participating in programs like the Y.E.S Initiative? A: “To young individuals considering participating in programs like the Y.E.S Initiative, my advice is to embrace the opportunity wholeheartedly. These programs offer a unique chance to apply theoretical knowledge in a practical setting, develop essential skills, and build a valuable professional network. Be proactive, seek mentorship, and view challenges as opportunities for growth. The experiences gained through such initiatives can shape a fulfilling and successful career path.”

    🌟 A Heartfelt Thank You to Thabo Nkosi!

    We extend our deepest gratitude to Thabo Nkosi for his outstanding contributions to EconoBEE. Your dedication, hard work, and transformative experiences have not only shaped your own journey but have enriched the fabric of our Y.E.S Initiative. Thank you for being an essential element in our pursuit of youth empowerment and excellence!

    Interested in contributing to this transformative initiative? Partner with EconoBEE and be a catalyst for change!

    16Dec, 2023
    Looking towards 2024: A Year of Transformative Change


    As we stand on the threshold of bidding farewell to 2023, we want to express our heartfelt gratitude for the incredible journey we’ve shared with you. Your trust in EconoBEE has been the cornerstone of our success, and we’re excited to share some of the highlights from this exceptionally memorable year:

     

    Celebrating Success Together:

    During the course of 2023, EconoBEE had the privilege of supporting numerous clients in reaching new heights on their transformative B-BBEE journey. From small businesses to large enterprises, we take immense pride in the success stories that have unfolded throughout this year. Your unwavering commitment to economic empowerment and compliance has not only fortified your enterprises but has significantly contributed to the broader landscape of transformation within the business ecosystem.

     

    Empowering Through Workshops:

    All through the year, our workshops have been a vibrant hub of empowerment, bringing together a diverse array of business owners and professionals eager to delve into the intricacies of B-BBEE. The resounding success of these sessions, marked by positive feedback and enthusiastic engagement, has been a source of inspiration for us. Bolstered by this encouragement, we are thrilled to announce that our workshops will evolve even further in 2024, providing you with an enriched experience, replete with practical skills and comprehensive knowledge.

     

    Teasing 2024:

    As the proverbial curtain gracefully descends on the stage of 2023, we find ourselves eagerly setting our sights on the promising horizon of 2024. Within the corridors of EconoBEE, a hive of excitement is buzzing as we meticulously prepare to unveil a tapestry of new services and expanded workshops, meticulously crafted to elevate your experience and fortify your journey towards economic empowerment.

     

    Anticipating Industry Shifts:

    While we anticipate a year filled with growth and empowerment, it’s crucial to be vigilant about potential industry shifts. In the dynamic landscape of B-BBEE, we’re closely monitoring significant updates within the Transport sector. The Council, in conjunction with the Department of Transport, has initiated B-BBEE Alignment sessions, proposing resolutions that could potentially reshape the industry. Draft Codes are expected to be released for public comment by January 2024, signifying a transformative era.

     

    Navigating Change Together:

    We encourage companies, especially those within the Transport industry, to be on the lookout for these potential changes. The proposed resolutions aim to bring about much-needed transformation, emphasizing Skills Development, Enterprise and Supplier Development, and a re-evaluation of ownership structures. As we venture into 2024, EconoBEE remains dedicated to guiding you through these changes, ensuring your journey towards economic empowerment is successful.

     

    Happy Holidays and a Prosperous New Year:

    And so, as the holiday season unfolds, we want to take a moment to express our gratitude for the privilege of working with you throughout the year. Your trust and partnership have been the cornerstones of our success, and we are truly thankful for the opportunities we’ve shared. In the spirit of the season, we extend our heartfelt wishes for a Merry Christmas and a New Year filled with prosperity, good health, and continued success.

     

    Here’s to a joyful holiday season and a prosperous New Year!

     

    21Jan, 2022
    “Clarity” Regarding SANAS Letter
    Any verification undertaken from the 15th of August 2020, should be done so in such a manner that it does not exceed a period of 12 months from the most recent Financial Year – End. This was the subject of the SANAS clarification letter dated the 6th of April 2021 (which referenced a supporting SANAS email clarification dated the 14th of August 2020 and attempted to “clarify” said email). Unfortunately, this letter did not shed light on how companies should address the following real issue that several companies have and may still face: what happens if a company is in the middle of a verification and their current financial year, ends? Does the measured entity continue to finalize their verification or must the entity stop the verification immediately? You may say, that company should have planned the verification to start (and end) sooner! However, as consultants, we know that in certain instances, getting a company verified (and completing the verification quickly) is not always as easy as that, for instance:
    • In this “new normal” we find ourselves in, companies may have employees working from home and not always easily accessible.
    • Integral people to the verification may get sick and therefore be unable to provide information.
    • Loadshedding, internet connectivity and other factors also contribute to delays.
    It is therefore necessary for SANAS to provide a comprehensive statement so that there is no uncertainty for measured entities, verification agencies or consultants. Failing that, consultants should also be given access to ask SANAS questions or perhaps there should be one body that regulates all consulting firms and who can then provide more guidance in terms of the clarification(s)? When it comes to understanding the B-BBEE legislation and implementing the interpretation thereof, EconoBEE is dedicated to coming up with innovative transformation strategies for our clients that make business sense. Please feel free to reach out to us on 011 483 1190 or info@econobee.co.za if you would like to hear more.