BBBEE Commission says most broad-based schemes failing ‘ownership test’

The regulatory body overseeing the implementation of South Africa’s broad-based black economic empowerment (BBBEE) legislation has dismissed suggestions that changes have been made to the rules governing the treatment of trusts and other broad-based structures under the ownership element of the empowerment scorecard. “It is important to dispel the impression created that there is no certainty regarding BBBEE – the Act, the Codes of Good Practice as well as approved sector codes are clear as to what the framework and the parameters are … There is no change since the amendments in 2013,” the BBBEE Commission said in a statement released on Tuesday.