While President Cyril Ramaphosa tries to woo investors to sink their capital into the sinking economy that is South Africa, the bureaucrats below deck are busy smashing holes into the hull. The BEE Commission, it was reported inlast week, has decided that trusts no longer count for BEE. To restructure these schemes and deals could cost tens of billions of rand. This could leave investors scrambling for the lifeboats.
These may well be legitimate concerns and a number of questions can be raised. A trust that helps fund university scholarships may give a student a needed leg up, but is that real ownership? Do the people in a community endowed with a trust even know they may have voting rights and can attend the AGM? But the fact of the matter is that such trusts have been considered compliant for over a decade – until now, apparently.
Among sectors, the mining industry at least should be in the clear. The Department of Mineral Resources said it could not immediately comment – on the understandable grounds that there has been no formal statement issued on the matter for it to study.The mining industry is governed by the MPRDA and adheres to the Mining Charter and the structures of empowerment vehicles is reviewed and approved by the DMR,” the Minerals Council South Africa said in a statement.
Still, there are lingering concerns. One mining executive, who asked not to be named, said, “we are not quite sure about the matter”. The questions raised could bring fresh scrutiny to the mining industry’s trusts. After experiencing several dizzying policy shifts under the Mining Charter, the industry can hardly afford more uncertainty, and does not have a lot of spare cash to restructure existing schemes.
เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:
ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว
Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้
Mafia-style BEE ‘tenderpreneurs’ killing business with economic terrorismThe number of opportunists demanding a 30% stake in tenders won by established companies continues to grow unchecked, writes Kaizer Nyatsumba
แหล่ง: BDliveSA - 🏆 12. / 63 อ่านเพิ่มเติม »
Business Maverick: Anadarko Board Faces Scrutiny Amid $38 Billion Bidding WarAnadarko Petroleum Corp.’s market value has soared 56 percent since a bidding war for the American shale driller kicked off two weeks ago. Yet the company’s directors have managed to step on the toes of almost every player involved.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »
Mafia-style BEE ‘tenderpreneurs’ killing business with economic terrorismThe number of opportunists demanding a 30% stake in tenders won by established companies continues to grow unchecked, writes Kaizer Nyatsumba
แหล่ง: BDliveSA - 🏆 12. / 63 อ่านเพิ่มเติม »
BUSINESS MAVERICK: With a few exceptions, corporate SA has ditched the idea of funding political partiesWith a great flourish, SA’s political parties rushed through Parliament the Political Party Funding Act just prior to the start of the 2019 election campaign. It was transparently an attempt to look squeaky clean in a campaign sure to be dominated by the issue of corruption. Then the implementation of the legislation was delayed by the Electoral Commission of South Africa. The sigh of relief from donors and political parties alike was almost audible. But here is the thing: Corporate SA has largely moved on. It turns out very few are making contributions any more.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »
Business Maverick: Investors Brace for a Big Week of Insights Into World EconomyThe world economy’s ability to rebound from its recent soft patch will be tested anew this week as data is released from Washington to Beijing.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »
Business Maverick: Gold Gets Taken for a Ride as Price Gyrates After Fed CommentsGold traders can be forgiven for feeling a bit queasy as efforts to parse economic signals from the U.S. Federal Reserve put them on a roller-coaster ride.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »
BUSINESS MAVERICK OP-ED: Deregistration threat to Amcu calls for active union solidarityThe Department of Labour’s threat to deregister the Association of Mineworkers and Construction Union is a cause for concern. It cannot be that more than 200,000 members be left without a bona fide union because Amcu is more than a year late with the holding of its national congress. A failure to resolve this matter will only further entrench the view that the department is intent on punishing those it sees as opposed to the ANC.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »
Business Maverick: Diamond Trading Goes Online as Lucara Takes on Industry GoliathsBusiness Maverick: Diamond Trading Goes Online as Lucara Takes on Industry Goliaths By Bloomberg
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »
Business Maverick: Monday April 28: Five Things You Need to Know to Start Your DayTakeaways from China’s Belt and Road forum. Japan markets are shut for the week, but there is a slew of key global data that traders will be watching. Incumbent Sanchez set to be returned as Spain’s PM after election. Here’s what’s moving markets.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »