2. 2 | Black Economic Empowerment
ANY BUSINESS THAT WISHES TO ENSURE LONG TERM SUSTAINABILITY AS A PARTICIPANT IN THE SOUTH AFRICAN ECONOMY AND CONTRIBUTE TO THE COUNTRY'S ECONOMIC GROWTH, MUST ADDRESS ASPECTS OF THE CODES OF GOOD PRACTICE UNDER THE BROAD-BASED BLACK ECONOMIC EMPOWERMENT ACT OF 2003.
The Black Economic Empowerment (BEE) practice at Cliffe Dekker Hofmeyr is widely recognised
as being one of the most knowledgeable and experienced BEE regulatory teams in South Africa.
Our BEE team has considerable practical experience in advising South African and international businesses seeking to implement BEE compliance within the legislative framework.
Our expertise includes advising on the Broad-Based BEE Act, the Codes of Good Practice, the various Transformation and Sector Charters,
and related legislation and regulations.
OUR ADVISORY SERVICES
Our experience is deep and varied and covers a wide range of advisory services, including:
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Advising on the development and BEE effects of BEE ownership and management control structures, and drafting the legal documents for implementing these structures
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Consideration of general scorecard compliance and advising on improving compliance
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Conducting BEE due diligence investigations
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Advising on the development of broad-based schemes and employee share ownership schemes, and drafting the legal documents for implementing them
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Advising on and drafting charter and sector codes
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Advising on and devising transaction structures that are BEE compliant
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Formulating BEE strategy to align commercial outcomes with BEE expectations.
We also provide the following
BEE-related services:
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Tax advice
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Assistance in formulating potential BEE partners' selection criteria and managing the selection process
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Project management in relation to BEE transactions
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Preparing submissions to rating agencies and regulators regarding the BEE structure
3. 3 | Black Economic Empowerment
THE WAY TO BEE
Our BEE regulatory team has compiled a guide to BEE in South Africa, which can be downloaded from our website.
The Way to BEE handbook provides an understanding of government strategy and policy on broad-based BEE and highlights some of the issues that businesses must face in meeting the challenge of empowerment.
The latest edition is a comprehensive overview of the Codes of Good Practice.
In easily accessible Q&A format, this guide puts the Codes in context.
It examines in detail the issues around different forms of ownership and clarifies the BEE obligations of multinationals.
It outlines the targets and measurement for management, employment equity, preferential procurement, enterprise development and socio-economic development.
MARKET RECOGNITION
For the transaction year 2012, Cliffe Dekker Hofmeyr was ranked by DealMakers Awards February 2013
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1st in M&A deal flow – 4th year in a row
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1st in general corporate finance deal flow
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1st in general corporate finance deal value
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1st in unlisted deals – deal flow
"Cliffe Dekker Hofmeyr is in the ascendancy thanks to its 'big share of meaty deals'. Historically, it has dominated the black economic empowerment (BEE) arena and has close connections with government and state-owned-enterprises."
Cliffe Dekker Hofmeyr has an exceptional record in mining transactions, including BEE deals, regulatory issues and mining
sector restructurings.
The Legal 500 EMEA 2012
The Way to BEE landing page
www.cliffedekkerhofmeyr.com/ en/legal/sectors/bee.htm
The Way to BEE booklet
www.cliffedekkerhofmeyr.com/ en/news/publications/2007/ the-way-to-bee.htm
NUMBER ONE
2011, 2012, 2013 and seven times in 10 years
Cliffe Dekker Hofmeyr has, for the third consecutive year and over seven of the past ten years, been named South Africa’s Number One large law firm for client service.
In the independent, annual PMR.africa survey of legal firms, 300 respondents drawn from companies that use several law firms in South Africa, perceived Cliffe Dekker Hofmeyr as delivering the most highly rated services. Their ratings were based on 29 of the most important attributes clients require in any law firm and the qualities and capabilities they need in a law firm when executing a new transaction.
Over the years at Number One, Cliffe Dekker Hofmeyr has also achieved the coveted Diamond Arrow Award for services equivalent to outstanding.
