Of all the transformation initiatives which a Measured Entity may institute, relative to its own transformation journey, probably the most emotive is that of introducing a BEE partner into the business. Much has been written about, and there are countless examples of, structures which are not optimal, which seek to circumvent the substantive intentions of BEE legislation, and the commitment to equality in section 9 of our Constitution. However, Advance is committed (and has been for the 11 years of its existence), to the establishment of Black Ownership structures which deliver true economic transformation, both to all stakeholders, and our society.
The Amended Codes of Good Practice make provision for many different mechanisms of introducing Black Ownership into a Measured Entity. From the sale of shares to individual shareholders to the introduction of broad-based ownership schemes (“BBOS”), Advance has specialised in the analysis of these structures for over a decade.
Advance has advised a dozens of large corporate entities regarding the correct calculation of their BEE Ownership scores in terms of the Amended Codes and various Sector Codes. It has acted as a part of the broader transaction advisory team in many of those instances, and increasingly, as lead advisor from time to time. Advance is able to effect an end-to-end ownership transaction for clients, specialising in “sale of asset” transactions and “broad-based black ownership – BBOS” – both for large corporates and small businesses.