Has the bell tolled for broad-based ownership and employee trusts?
11 June 2015
The Department of Trade and Industry (DTI) published a notice on 5 May
2015 where, in a move that raised... concerns across the entire business
sector, it was announced that Broad-Based Ownership Schemes (BBOS) and
Employee Share Ownership Programs (ESOPs) will only contribute a maximum
of three points to the total BEE scores of companies which implement
such solutions after the date of the announcement. In light of the flood
of criticism that followed this announcement, the DTI published a
retraction on 15 May 2015 - and although wholly retracted, it came with a
warning.