Davies warns businesses: invest, or lose BEE points
According to Times Live, South Africa's trade and industry minister Rob Davies warned that black economic empowerment (BEE) points would be deducted from businesses who did not invest in enterprise, supplier, and skills development.
Speaking at a Johannesburg summit for small, medium and micro enterprises (SMMEs) from the public and private sector, Davies said that too few companies were giving sufficient support to these areas in terms of the BEE Act and Codes of Good Practice, according to Times Live.
By developing black entrepreneurs, particularly black industrialists, he said, corporates would contribute to South Africa's industrialisation and to a significant manufacturing sector. "We want to see this space occupied increasingly by black manufacturers and black industrialists," Times Live reports.
Read the full article on www.timeslive.co.za
