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THE DTI HAS JUST KICKED BROAD BASED BLACK OWNERSHIP IN THE TEETH FOR THE SECOND TIME!

DTIThe Revised Codes of Good Practice increased the benefit that a New Entrant can receive to qualify as New Entrant under these Codes and ad to the score as a New Entrant in the business they hold shares in from R20m to R50m. This clearly flied in the face of broadening the Black Ownership base in South Africa and allowed Black Shareholders  that had already  benefitted from Ownership transaction in the past to stay in the wings as possible New Entrants.

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DTI CLARIFIES ISSUES AROUND THE REVISED CODES

The DTI clarified some important issues around the implementation of the B-BBEE Revised Codes of Good Practice with the Government Gazette general notice 369 of 2015 published on 5 May 2015. Here are the important points:

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CREATION OF 100 BLACK INDUSTRIALISTS GAINING TRACTION

The Department of Trade and Industries Director General Lionel October announced on Thursday this past week that the Department would provide grants and cheap loans to the amount of R1bn as part of the government’s plan to create large and competitive black industrialists.

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