BBBEE transitional period update
29 August 2008
This Sunday, the 31st of August 2008, marks the official end of the transitional period and signifies the unconditional application of the Broad Based Black Economic Empowerment (BBBEE) Act's Codes of Good Practice.
The transitional period was an 18-month window granted by the Department of Trade and Industry (DTI) to allow the market to align their industry sectors to the codes and to convert from narrow to broad-based Black Economic Empowerment (BEE).
The DTI would like to emphasise that no further extension of the transitional period is envisaged, and that the gazetting process will continue with regard to all the draft sector charters received before the end of the transitional period.
The Minister of Trade and Industry, Mr Mandisi Mpahlwa, will on Sunday issue a public statement setting out the process to be followed after the lapse of the transitional period.