ISRAEL NOKO FOUNDER & CEO OF NPI GOVERNANCE CONSULTING
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Only one in ten state entities submitted their broad-based black economic empowerment (B-BBEE) reports for 2018, according to the B-BBEE Commission. The oversight body on Wednesday released a report on the status and trends of B-BBEE for 2018.
It found that only 10 % of state entities and 43% of JSE-listed companies submitted compliance reports as required. In 2017 only 1% of state entities and 51% of JSE-listed firms submitted reports.
The submission of reports is compulsory for JSE-listed entities, organs of state, public entities and Skills Education Training Authorities.
"This worrying trend of non-compliance is clearly undermining the objectives of the B-BBEE Act," the commission said in a media statement.
It found that only 10 % of state entities and 43% of JSE-listed companies submitted compliance reports as required. In 2017 only 1% of state entities and 51% of JSE-listed firms submitted reports.
The submission of reports is compulsory for JSE-listed entities, organs of state, public entities and Skills Education Training Authorities.
"This worrying trend of non-compliance is clearly undermining the objectives of the B-BBEE Act," the commission said in a media statement.
