ENSafrica Broad-based Black Economic Empowerment (B-BBEE)

widely praised as the pre-eminent firm in the market Chambers Global

Our dedicated Broad-Based Black Economic Empowerment (B-BBEE) practice group has advised on an extensive number of groundbreaking and significant B-BBEE transactions across all sectors in South Africa, including the 2019 DealMakers B-BBEE Deal of the Year.

B-BBEE is a constitutionally mandated objective of the South African Government which seeks to address the legacy of apartheid through legislation and policy aimed at increasing the participation of black people in the economy.

B-BBEE consists of measures and initiatives that are aimed at increasing levels of equity ownership by black people in businesses operating in South Africa, increasing the number of black people who participate in management roles in businesses, improving the skills of black employees, assisting black owned SMMEs, procuring goods and services from businesses that are good contributors to B-BBEE, and corporate social investment.

Our key differentiators are our deep understanding of the Government’s requirements, our regular interactions with all stakeholders, including the regulator and the B-BBEE Commission, and our track record of having advised on the largest and most high profile B-BBEE transactions in the country.

ENSafrica is recognised by top ranking agencies for achieving consistently high standards when working on the continent.

As Africa’s largest law firm with over 600 specialist practitioners, ENSafrica has the capacity to deliver on your business requirements across all major industries and the continent. We are able to leverage our resources to suit your pricing preferences and deliver within your timeframes.

We provide a broad range of B-BBEE advice, including:

• Compliance with the B-BBEE legislation, including the B-BBEE codes, B-BBEE sector codes and charters and related legislation and regulations

• B-BBEE advisory (including the structuring of B-BBEE ownership transactions)

• Equity Equivalent Investment Programs (EEIP) for multinational companies

• B-BBEE due diligence investigations, assessments and compliance opinions

• Submissions to the B-BBEE Commission (including registrations of major B-BBEE transactions and annual compliance reports by JSE listed companies)

• Assistance with B-BBEE assessments and disputes

• B-BBEE training

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DEAL OF THE YEARDisposal of the Nampak Glass business to Isanti Glass 1, a joint venture between Kwande Capital and Sabsa Holdings, for an estimated ZAR1.5-billion. This transaction won the 2019 B-BBEE Deal of the Year Award at the DealMakers Annual Gala Awards.

THERMAL COAL SALESouth32’s milestone sale of its thermal coal business, South Africa Energy Coal, to Seriti Resources. This transaction was shortlisted for the 2019 B-BBEE Deal of the Year Award at the DealMakers Annual Gala Awards.

PUBLIC OFFERB-BBEE ownership structure implemented for Sasol Ltd, entailing a public offer, an employee share ownership scheme and a broad-based ownership scheme.

TAXI INDUSTRY OWNERSHIP STRUCTUREB-BBEE ownership structure with the South African National Taxi Council implemented for SA Taxi Finance Corporation, entailing the formation of a broad-based B-BBEE structure for the benefit of the South African provincial taxi councils.

RESTRUCTURE AND DISPOSALRestructure of BHP Billiton’s joint venture arrangements with Rio Tinto in respect of Richards Bay Minerals and the disposal of 26% of the restructured business to B-BBEE parties.

INVESTMENT PROGRAMMEB-BBEE Equity Equivalent Investment Programme for Caterpillar.

BROAD-BASED OWNERSHIP STRUCTUREB-BBEE ownership structure for Discovery, entailing the formation of a broad-based health and educational foundation and a broad-based employee share ownership plan, as well as the issue of shares to a consortium of B-BBEE shareholders comprising strategic women groups and directors and management of Discovery.

EQUITY OWNERSHIPB-BBEE equity ownership transaction for WNS Group (India) in respect of its South African operations.

ZAR8.1-BILLION SALEZAR8.1-billion sale by MTN of a 4% stake in MTN to B-BBEE parties, whereby the black public were invited to subscribe for shares in MTN Zakhele Ltd, with advice provided to the co-debt arrangers, co-funders (banks) and MTN.

INVESTMENT PROGRAMMEB-BBEE Equity Equivalent Investment Programme for Amazon.

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Sanjay KassenExecutiveskassen@ENSafrica.com