SABMiller plans to enter into a broad-based black economic empowerment transaction, the brewing giant said on Wednesday.

The value of the deal was US$750 million (R6 billion), SABMiller said.

Participants would include SAB's employees, black-owned licensed liquor retailers and liquor licence applicants and the broader South African community through the SAB Foundation.

The Adopt-A-Schools Foundation, which aims to improve education infrastructure in rural areas in South Africa, has been named a key beneficiary in Grindrod's R247 million Broad Based Black Economic Empowerment deal. 

Oxford University Press Southern Africa and the Mandela Rhodes Foundation (MRF) announced a unique Black Economic Empowerment partnership on Tuesday that will benefit future generations of African scholars. 

Signed by Nelson Mandela and Oxford University Vice Chancellor Dr John Hood at the Nelson Mandela Foundation in Johannesburg, the partnership entails a 25.1% share transfer. 

South African cement manufacturer PPC has unveiled a broad-based black economic empowerment transaction that will see a 15% stake in the company, presently valued at R2.7-billion, being transferred to a broad range of black shareholders.

The Gauteng Department of Public Transport, Roads and Works has invested more than R7 billion in broad-based black economic empowerment (BBBEE) and small, medium-sized and microenterprises (SMMEs) over the last three years. 

Vodacom has implemented a R7.5 billion broad-based Black Economic Empowerment (BEE) ownership transaction, the cellphone giant announced on Tuesday. 

The transaction is one of the largest in the South African information and communications technology industry and includes Vodacom's employees, the company's strategic black business partners as well as a share offer to the general black public.

 

Barloworld has announced a R2.4 billion black ownership deal which will see 10% of the international industrial brand’s shares being distributed to a broad-based grouping of beneficiaries.

South Africa's Black Economic Empowerment (BEE) initiative has been an important driver of domestic corporate activity such as mergers and acquisitions and private equity, says Moody's Investor Services.

Pamodzi Resources today announced the acquisition of a controlling interest in new uranium company. The transaction will create South Africa’s largest black-controlled uranium company. 

Petrochemicals group Sasol announced yesterday that it had sold 20 percent of its subsidiary Sasol Mining, to a mining company controlled by black women.

Sasol announced their broad-based black economic empowerment (BEE) ownership transaction today. With an estimated value of R17, 9 billion, the transaction is South Africa's largest to date.

Mzamo Xala disavows the term "Black Diamond" conferred on members of South Africa's booming black middle class who now hold nearly a third of the country's buying power.

The media has done a pretty good job in informing the general South African public that Broad-based Black Economic Empowerment (B-BBEE) is about creating an environment that seeks to grow our economy with a specific focus on empowering black – that is, African, Coloured and Indian – South African citizens. However, what a lot of people don’t realise is that BEE also has a lot to do with women and encouraging their active participation in our economy.

After the Cabinet approved the Broad-Based Black Economic Empowerment (B-BBEE) Codes of Good Practice in December, South African businesses have been keen to understand the implications of the empowerment compliance targets.

Broad-based black economic empowerment (B-BBEE) is a progression from the old, narrow-based, black economic empowerment in that it looks more broadly than just at ownership and management. B-BBEE basically seeks to undo the economic damage of apartheid. Even though apartheid systematically excluded black people from meaningfully participating in our economy, B-BBEE is not about affirmative action, nor is it about white people giving money to black people – rather, it is a growth strategy that targets inequality within the South African economy.

The implementation of broad based BEE should not be regarded as an expense that can only be reaped at a later stage. “The Codes of Good Practice have provided every company with certain efficiencies and business opportunities. Unlocking these is really a matter of understanding the codes,” says BEE consultant Paul Janisch.

The Afrikaans market has shown the most radical turnaround on affirmative action since 1994, with a 300% growth in support of the concept, research shows.

Black economic empowerment legislation could potentially have a positive effect on stimulating entrepreneurial activity in South Africa – and with the country’s level of early stage business activity measured to be at a relatively low level in comparison with other developing nations around the world, such an effect could not come at a better time.

South Africa’s largest black economic empowerment (BEE) company was unveiled on Thursday by Anglo American and its subsidiary Kumba Resources when they announced the formation of a R16bn coal, heavy minerals and zinc company.

The BEE deal proposed this week by the Old Mutual Group has set a new benchmark for broad-based black economic empowerment, by exceeding the ownership targets set out in the Financial Sector Charter.

Ntsiki Biyela is the new face of the wine industry and the first black female wine-maker in South Africa.

The redistribution of the Western Cape economy through substantial and technical support to emerging black businesses will in the next ten years, be the focus of the provincial government.

When the South African Forestry Company (Safcol) decided to close its loss-making Longmore Flower Estate in Thornhill, outside Port Elizabeth, and retrench its workers, four former employees decided to take matters into their own hands.

Over the past few years, South Africa has been faced with a unique challenge: transformation. More than ten years into democracy, the question now asked is: To what extent has South Africa succeeded in promoting the goals of transformation and in creating a more equal society since its first democratic elections in 1994?