BUSINESS EDGE MAY 2024

This communication highlights the latest statutory amendments, enactments, case law, notices, and ancillary developments relevant to the SERR Synergy legal compliance products and services. 

Compliance is costly but non-compliance can be even more costly.

Our bi-monthly Business Edge is not only intended to inform business owners of new legislative developments that may protect businesses against the risk of non-compliance, but also serves strategic purposes. Compliance requirements could open up new business avenues or facilitate the adjustment and alignment of current business operations. 

With the national elections imminent in May 2024, compliance will be strongly influenced by political policy as the political landscape changes. The changes that are expected to influence compliance in the short term relate specifically to so-called “pro-poor” or “pro-previously disadvantaged” policies. These policies will influence BEE-related legislation such as the Employment Equity Act (EEA) and Broad-Based Black Economic Empowerment (B-BBEE) legislation, coupled with government’s Preferential Procurement Regulations.

It is expected that the President will, shortly before or after the elections, sign the new EEA into law, which will also impact B-BBEE legislation. The new EEA will pave the way for the introduction of targets for the employment of Black people in professional and managerial positions. Those doing business with government will immediately feel the effect of this new legislation as the EEA will be enforced by issuing businesses with compliance certificates to qualify for state contracts. These EEA certificates are required over and above B-BBEE affidavits and certificates.

SERR Synergy will keep businesses informed about these and other compliance requirements and provide advice on how best to manage and benefit from these amendments within the overall growth strategy of a business.

Gideon Gerber | Director 

President Ramaphosa signed the Employment Equity Amendment Act, 2022 (Act No. 4 of 2022) (EEAA) into law in April 2023; however, the effective date is yet to be determined by the President. Only once the commencement date has been established will the Minister of Employment and Labour be able to set employment equity targets for economic sectors, as well as regions where transformation is lagging. 

In recent developments, the Minister of Employment and Labour published newly revised Draft Regulations on Proposed Numerical Targets in Government Gazette No. 50058 dated 1 February 2024 for public comment. Interested parties had 90 days (i.e. until 2 May 2024) to submit their comments to the designated department officials indicated in the Government Gazette.

In the meantime, until the President has proclaimed the commencement date for the EEAA and finalised the Regulations on Proposed Numerical Targets, the status quo will be maintained.

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