Stricter BEE laws planned for South Africa in 2022

[now05ster]

The amount of rage I instantly built up almost caused a heart attack, then I saw the /s.

Nah, getting angry is of little use. *

Yeah, as Lupus pointed out our current policies have been working great.


*That is what I tell myself.

 

[rvZA]

Company registered abroad.... checked.
Data processing moved abroad.... checked.
Servers moved abroad.... checked.
Employees appointed abroad.... checked.
Bank account opened abroad.... checked.
Change local payments to foreign currency.... checked.

BEE laws....... don't care anymore.....

 

[Bigjay84]

All the white people would have left by then

 

[richjdavies]

Just to double check, is bee a lawful requirement like a drivers license for operating a car? I was under the impression it was only needed if you wanted to do business with government, so if you stick within private business you can ignore bee.

Agreed. That is true.
But then you want to do business with other businesses... Then one of your big clients decides he wants to win a big tender with government and so now needs "supplier" BEEE compliance and then you're done

 

[Hemi300c]

Fvcking racists

 

[prod]

 

[deweyzeph]

Just to double check, is bee a lawful requirement like a drivers license for operating a car? I was under the impression it was only needed if you wanted to do business with government, so if you stick within private business you can ignore bee.

There is no legal requirement for a private non-listed company to be BEE-compliant. However the extortion scheme is setup in such a way that you will find it very difficult to do business in South Africa if your business turns over more than R10 million a year and you are not BEE-compliant. Difficult, but not impossible.

Edit: the article title is misleading. BEE and employment equity are 2 completely different things.

 

[Vorastra]

So let's say you have a small company of 4 white people.
The Government basically wants you to fire 3 of them and hire 3 black people instead?

Seems like it'd be better to spin off 4 independent single-man businesses that just happen to work closely together.

 

[deweyzeph]

So let's say you have a small company of 4 white people.
The Government basically wants you to fire 3 of them and hire 3 black people instead?

Employment equity quotas will only apply to companies employing more than 50 people after this legislation is passed. Currently employment equity only applies to companies employing more than 50 people OR that have reached a revenue threshold specific to your industry. Once this legislation passes the revenue threshold will be removed, and the only requirement to comply with employment equity will be for businesses that employ more than 50 people.

 

[Quicks]

Insane to think after 27 years and all this corruption around BEE, they still want to increase the mechanics wich enabled all in this inequity.

 

[RonSwanson]

 

[Neuk_]

Just to double check, is bee a lawful requirement like a drivers license for operating a car? I was under the impression it was only needed if you wanted to do business with government, so if you stick within private business you can ignore bee.

In theory you may be correct but in reality BEE affects just about every single company in SA. For example, a good friend runs a specialised lubricant business with his father, cousin and one employee with zero government customers. They still try every year to get every BEE point that they can so that they can be on the best BEE level to just keep the customers they have, never mind trying to get new, larger customers. Another example is my SIL who runs a very small catering business where she has one, non full time employee and lost a contract catering for a law firm because she has zero BEE rating. Unfortunately BEE trickles down from those companies that do business with government to even minute, mom and pop type businesses that have no hope in hell of getting any BEE rating.

 

[BuckRogers]

It is good to put more restrictions on businesses. The economy is growing too fast.

 

[grok]

Insane to think after 27 years and all this corruption around BEE, they still want to increase the mechanics wich enabled all in this inequity.

Insane to think they gave Zuma our most corrupt medical parole just like that to stay out of jail.

It only really makes real world sense once you start seeing the ANC for what it never hasn't been, a Zupta-loving Marxist organization that does not intend to provide a better lie for all, only for some.

 

[JayM]

So let's say you have a small company of 4 white people.
The Government basically wants you to fire 3 of them and hire 3 black people instead?

No. EMEs will still be a thing, in fact they've even relaxed some of the requirements for it.

 

[dualmeister]

No. EMEs will still be a thing, in fact they've even relaxed some of the requirements for it.

Only an EME if your turnover is less than R5 million.

 

[deweyzeph]

Only an EME if your turnover is less than R5 million.

Actually it's R10 million. And EME is a term used in BEE, not employment equity.

 

[mojoman]

The incompetence just continues....

Top of the game with this....Everything else...right at the bottom...
Bunch of Wassocks...

 

[dualmeister]

Actually it's R10 million. And EME is a term used in BEE, not employment equity.

Ah yes 10, my bad

 

[TelkomUseless]

BEE is not racist at all /s

it's not racist for the majority benefitting from it.

And yea BEE has been working great the last 26 years. Keep doubling down on stupid.