This website uses cookies to ensure you get the best experience. If you continue to use this site without changing your cookie settings we assume you consent to the use of cookies on this site.

find an article

broad-based black economic empowerment (BBBEE) | 12 May 2020
BY Parusha Desai Valodia
ENSight

broad-based black economic empowerment (BBBEE)


South Africa: further extension of time for B-BBEE submissions and filings during the lockdown

On 27 March 2020, we reported on a notice published by the Broad-Based Black Economic Empowerment (“B-BBEE”) Commission, permitting stakeholders to register major B-BBEE transactions and/or submit an annual B-BBEE compliance report within 30 calendar days following the end of the lockdown period (ie, 31 May 2020).

On 5 May 2020, the B-BBEE Commission published a further notice permitting:

  • parties to a major B-BBEE transaction concluded between the period 11 March 2020 to 30 April 2020 (and any time during the implementation of the national level 4 lockdown) to register this transaction by 30 June 2020, notwithstanding the prescribed period contemplated in regulation 18(1) of the B-BBEE Regulations; and
  • all JSE-listed entities, organs of state, public entities and SETAs that were required to submit their annual B-BBEE compliance report between the period 26 March 2020 to 30 April 2020 (and any time during the implementation of the national level 4 lockdown) to submit such compliance reports by 30 June 2020, notwithstanding the prescribed period contemplated in regulation 12 of the B-BBEE Regulations.

Furthermore, all stakeholders who were required to respond to any:

  • allegations pursuant a compliant;
  • any findings issued pursuant to an investigation; or
  • alignments of its major B-BBEE transactions following recommendations received from the B-BBEE Commission,

during the implementation of the national level 5 lockdown, must submit these responses to the B-BBEE Commission via e-mail. Unlike with the registrations of the major B-BBEE transactions and the submission of B-BBEE compliance reports, the notice does not prescribe a date by which such responses must be submitted to the B-BBEE Commission. Accordingly, we encourage all stakeholders who are required to submit any responses to the B-BBEE Commission to engage with the B-BBEE Commission regarding the timing of same.

Please note that the B-BBEE Commission’s office is not yet accessible to members of the public and, accordingly, any documents/correspondences relating to a complaint, transaction, compliance report or any other process must be submitted via email for the attention Mr Madidimalo Ramare at Mramare@beecommission.gov.za.

Please contact ENSafrica’s B-BBEE practice group if you require any assistance with your B-BBEE submissions and/or filings.

Reviewed by Sanjay Kassen, head of ENSafrica’s B-BBEE practice group.

Parusha Desai Valodia

Senior Associate | Corporate and Commercial | B-BBEE practice group

pdvalodia@enafrica.com  

+27 82 560 4129