BBBEE codes: Govt trying to force R10m-plus businesses into Black control

[European Knight]

South Africa’s proposed new Black Empowerment codes (BBBEE) have become very personal for EconoBEE’s founder Keith Levenstein as his own company faces the dilemma confronting 83% of Qualifying Enterprises (turnover R10m to R50m): Sell/give control of your company to Black Owners or get downgraded to a level 8 (bottom of the pile) rating. In this interview he admits to not knowing what to do. Nor do his clients. Whatever transpires, these proposals make the ANC Government’s intention very clear. It is throwing legislative might behind forcing racial transformation of South African business ownership. A very blunt tool that is sure to have unintended consequences the bureaucrats have not even thought about. – AH


http://www.biznews.com/audio/2014/10/bbbee-codes-govt-trying-to-force-r10m-plus-businesses-into-black-control/

[blogen]

Same thing happens now in Hungary for example: the magyarization of the media. (http://budapestbeacon.com/news-in-brief/rtl-viewership-increases-in-response-to-critical-view-of-govt/) The states redeal the ownerships in the business life sometimes.