{"id":190998,"date":"2017-08-08T08:39:33","date_gmt":"2017-08-08T06:39:33","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=190998"},"modified":"2017-08-08T08:39:33","modified_gmt":"2017-08-08T06:39:33","slug":"mtn-nokia-and-others-under-investigation-for-allegedly-breaking-bee-laws-report","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/190998\/mtn-nokia-and-others-under-investigation-for-allegedly-breaking-bee-laws-report\/","title":{"rendered":"MTN, Nokia and others under investigation for allegedly breaking BEE laws: report"},"content":{"rendered":"<p>A number of major South African companies including\u00a0Netcare, Nokia, MTN, Eskom and the South African Social Security Agency (Sassa) are under investigation for reportedly\u00a0violating the BBBEE Act.<\/p>\n<p>According to a report by <strong><a href=\"https:\/\/www.businesslive.co.za\/bd\/national\/2017-08-08-major-names-in-bee-investigation\/\" target=\"_blank\" rel=\"noopener\">BusinessLive<\/a><\/strong>\u00a0the Broad-Based Black Economic Empowerment (BBBEE) Commission are i nvestigating MTN&#8217;s\u00a0Zakhele share scheme.<\/p>\n<p>Specifically, it will investigate\u00a0whether the Zakhele and Zakhele Futhi BBBEE schemes meet the requirements for black ownership in terms of the codes of good practice and comply with the legislation.<\/p>\n<p>Nokia Solutions and Networks SA are being investigated to determine whether the BBBEE ownership transaction involving its employee trust and Sekunjalo Investment resulting in 26% black ownership and the subsequent change in black ownership (which resulted in 31.28% black ownership by Sekunjalo) is in line with the Act.<\/p>\n<p>Companies found in violation of the\u00a0BBBEE Act may face prosecution and fined up to 10% of the entity\u2019s annual turnover.<\/p>\n<p>In addition, individuals involved in the breach could be fined or imprisoned for up to 10 years.<\/p>\n<p>Entities can also be excluded from doing business with the government for up to 10 years, and the contracts they have with any state-owned entity or government department can be cancelled, noted, said the department of trade and industry&#8217;s Sidwell Medupe.<\/p>\n<p>The commission has given no timeline on its investigations but confirmed the findings will be published at a later date.<\/p>\n<hr \/>\n<p><strong>Read:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/mobile\/190942\/vodacom-finalises-r35-billion-safaricom-transaction\/\" target=\"_blank\" rel=\"noopener\">Vodacom finalises R35 billion Safaricom transaction<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A number of major South African companies including\u00a0Netcare, Nokia, MTN, Eskom and the South African Social Security Agency (Sassa) are under investigation for reportedly\u00a0violating the BBBEE laws. <\/p>\n","protected":false},"author":10,"featured_media":109699,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26],"class_list":["post-190998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/190998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=190998"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/190998\/revisions"}],"predecessor-version":[{"id":191028,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/190998\/revisions\/191028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/109699"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=190998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=190998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=190998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}