Non-Compliant JSE Listed Companies

April 21, 2017

The B-BBEE Commission will in future take action against companies that are found to not comply with the B-BBEE requirements for transformation. Of approximately 400 listed JSE companies, only 27 have reported.

Section 13G of the Broad-Based Economic Empowerment Amended Act introduced the following reporting obligations:

  •  All public entities and organs of state must annually report on their compliance with B-BBEE in their audited annual financial statements and annual reports.

  • All companies listed on the JSE, must report on their compliance in terms of B-BBEE, to the newly introduced B-BBEE Commission. The format of reporting is yet to be prescribed but given the requirement on public entities to do so in their annual reports, one can expect a similar requirement on JSE listed companies.

  • All SETA's must report to the Commission on skills development spending and programmes.

    For further discussions on these elements, please contact or contact Moore Stephens Cape Town BEE Services on 021 525 8600.

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