--- “The Broad-based Black Economic Empowerment (B-BBEE) Amendment Bill eliminates all white people including the disabled whites: 'The definition of black people is now clear and aligned with the Constitution. There has been widespread criticism that white women were "benefitting disproportionately" from black economic empowerment with their black counterparts relegated to the bottom rung of the drive to redress societal inequalities. The Black Management Forum has been leading the calls for white women to be excluded after it came to light that they were the fastest rising category of people in terms of employment equity. White women found guilty of ‘fronting’ could face jail terms of up to 10 years…In terms of the proposed amendments, those involved in fronting could face jail terms of up to 10 years or be fined 2%-10% of annual turnover depending on the seriousness of the incident. In addition, contracts awarded to guilty companies could be cancelled.Further, the amended law requires the government and its agencies (and its tender companies) to comply. The auditor-general will audit and report on BEE compliance for government departments.Stock exchange-listed companies will be required to submit annual reports to the B-BBEE Commission, which the amendments propose. The commission’s function would include supervising adherence to the act.It would further receive and investigate complaints relating to B-BBEE, and maintain a registry of major empowerment transactions. “The proposals are a bold move and demonstrate government’s commitment to ensure successful implementation of BEE,” Tlhoaele said.
The Broad-based Black Economic Empowerment Amendment Bill closes many loopholes in the current BEE Act – a move that is long overdue.”