State set to take control of BEE verification

by Mark Allix, 15 August 2014 – Business Day

THE government will take control of the black economic empowerment (BEE) verification process to drive the creation of 100 “black industrialists” over the next three years.

Verification agencies will be downgraded to become “empowerment advisers” so that the private sector does not issue verification certificates to itself, the Department of Trade and Industry said on Thursday.

The department is aiming to address frustrations over the perceived slow pace of black economic empowerment (BEE), especially business ownership, and to correct empowerment policies seen to benefit “the few” and spur “rent-seeking”. Continue reading

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Act No. 17 of 2014: Property Valuation, 2014

THE PRESIDENCY

No. 527 1 July 2014

It is hereby notified that the President has assented to the following Act,

which is hereby published for general information:–

Act No. 17 of 2014: Property Valuation, 2014

Property_Valuation_Act1July2014 (2)

 

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Realtors(R) Will Decide the Future of Online Real Estate

NAR logo

Message from NAR’s President Steve Brown and CEO Dale Stinton

Much has been made of how technology has and will affect our lives and chosen vocations.  Technology speeds things up.  Technology provides instant access.  Technology feeds the insatiable demand for more and more meaningful information. Information wants to be free.  Technology and ‘change’ are often used interchangeably to remind us that our world tomorrow will be very different than it was yesterday.  Then you throw in a healthy dose of ‘who moved my cheese’ and all those other consultant driven mantras about adapting to the new world order and quickly your head is spinning and you just want it all to stop.  But it doesn’t and it’s not going to! Continue reading

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Half the economy could become BEE non-compliant by May 2015

Written by: Natasha Odendaal

BBBEE Codes

The introduction of the amended Broad-Based Black Economic-Empowerment Codes of Good Practice on May 1, 2015, could result in more than half the economy becoming non-compliant.

The revamped codes were published on October 11, 2013, and the transitional period was initially scheduled to endure for a year until October 10, 2014. However, an extension of six months was awarded in March, offering companies a longer period to adjust to the new regime.

However, black economic-empowerment (BEE) advisory firm EconoBEE CEO Keith Levenstein believed that nine industry sectors, namely construction, tourism, transport, forestry, accounting, information and communications technology, agriculture, finance and property, were at risk of becoming non-compliant with BEE when evaluated against the amended codes.

“If the sector codes are not released in time, businesses will need to follow the amended codes released last October,” he said, pointing out that businesses with a BEE scorecard expiring after May 1, 2015, would have their BEE certificate assessed on the amended codes, based on the data and activities carried out in the year prior to verification.

BEE compliance was a complex and time-consuming process, with many companies unlikely to succeed in adjusting to the amendments on time.

“Based on the new codes, a business currently at level 4 will almost certainly fall to level 6 and, possibly, even further. Management will need to do additional work and activities to retain [the company’s] current BEE status. Training spend, for example, needs to be increased from 3% to 6%,” Levenstein explained.

Those providing training to their employees to earn BEE points would need to speedily reallocate a training budget, select staff and kick off training in a process that was usually spread over 6 to 18 months.

“The BEE points allocation only accrues after the money is spent. The same goes for procurement, socioeconomic development and enterprise development,” Levenstein pointed out.

Further, businesses earning BEE procurement points could face the risk of their suppliers becoming noncompliant, negatively impacting their overall BEE rating.

“Businesses could be caught with a number of suppliers having lost their BEE rating, resulting in a domino effect of downgraded BEE ratings across all the industry sectors,” Levenstein noted.

Courtesy: Creamer Media

 

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2014 EMPLOYMENT EQUITY ROADSHOW SCHEDULE

TURNING OVER A NEW LEAF AGAINST ALL ODDS

Employers or Heads of organisations, Academics, Assigned Senior Managers, Consultative forum members, HR Practitioners, Trade Unions and employees are invited to attend the 2014 Provincial EE Roadshows hosted by the Department of Labour.  See schedule

EE Provincial Roadshow

 

 

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Industry portal launch ‘imminent’, networks revealed

Property Portals

Written by: Andrew Jennings: REB Bulletin

In an article published in Real Estate Business yesterday, Australian real estate agents have overwhelmingly criticized the new fee structure from realestate.com.au. Some real estate networks, independents and franchise groups have decided to unite and take on Australia’s largest real estate portal. Continue reading

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AUDIT REPORT SUBMISSIONS

 EAAB

IMPORTANT NOTIFICATION - 01 July 2014

Dear Principal estate agents and Auditors

For the firms that have a February financial year-end and who have submitted audit reports via audit@eaab.org.za and also at our offices before the deadline of submission of 30 June 2014, please note that we are currently capturing the audit reports on our system and as soon as the report has been captured, you will receive an email confirmation from us. Continue reading

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NOTICE TO: HOUSING OWNERS ASSOCIATIONS (HOAs)

EAAB

1. PURPOSE

To prohibit unlawful practices and promote acceptable standard of conduct within HOA’s in the rending of estate agency services.

Read more HOA Practice Note

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NO EXTENSION OF THE AUDIT DEADLINE FOR 30 JUNE 2014

EAAB

The Estate Agency Affairs Board sent out a notification earlier today, confirming that no extension will be granted for the submission of audit reports.

The audit reports should be submitted to the EAAB via the auditor’s portal on MYEAAB on or before 30 June 2014. http://www.eaab.org.za/myaudit

Read the full notification here.

EAAB Stakeholder communication re Audit 2014

 

 

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ACCUSTOMING OURSELVES WITH THE NEW REVISED CODES AS GAZETTED UNDER BROAD-BASED BLACK ECONOMIC EMPOWERMENT AMENDMENT ACT 46 – 2013

Property Charter Logo

Enhanced recognition for certain categories of black people

Throughout the Codes, various criteria appear which advance the interests of certain categories of Black people. These include:

  • Black women should form between 40% and 50% of the beneficiaries of the relevant Elements of the Scorecard;
  • Black people with disabilities, Black youth, Black people living in rural areas and Black unemployed people form part of the beneficiaries of the relevant Elements of the Scorecard.

 

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