Legislation: Telkom awarded B-BBEE facilitator status

Telkom is now a designated broad-based black economic empowerment (B-BBEE) facilitator, according to a Government Gazette notice published on Tuesday and awarding Telkom its new status for 10 years, repoprts Pam Saxby for Legalbrief Policy Watch. In February, when the Department of Trade & Industry called for comment on its intentions in this regard, it drew attention to the importance of positioning Telkom to ‘accelerate transformation in the ICT sector’, guided by the revised codes of good practice.

In terms of the generic scorecard, a B-BBEE facilitator is automatically deemed to have rights of ownership held 100% by black people, 40% by black women and 20% by black designated groups and to be unencumbered by ‘any acquisition debts … (or) third-party rights’. Telkom joins the Public Investment Corporation, Denel, the East London Industrial Development Zone, the Mapungubwe Institute for Strategic Reflection, the South African National Military Veterans Association, PetroSA and the African Exploration Mining and Finance Corporation, all of which have B-BBEE facilitator status.

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