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South Africa's BEE legislation: hindering investment or promoting partnerships?

South Africa, like other emerging markets, and the rest of the African continent has a critical need to attract foreign investment. The country is in a fortunate position of being among the highest ranking African nations in the World Bank’s ease of doing business ratings. This positions South Africa relatively well to attract foreign direct investment (FDI), as it means investors looking to Africa will likely perceive South Africa very favourably.

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Headwinds for Brimstone

LOCAL empowerment group Brimstone Investment Corporation appears to be battling to find its sea legs after an ill-timed foray into shipping and logistics giant Grindrod. The sea has always been central to Brimstone’s investment philosophy – having invested in fishing groups Oceana and Sea Harvest when the empowerment group was launched in the mid-nineties. While the fishing investments have rewarded Brimstone richly over the last two decades, the latest maritime thrust will test Brimstone’s resolve to endure choppy waters.

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DDL sets course for growth

DDL Equipment, well known manufacturer and supplier of docking systems to South Africa’s materials handling market, has new owners. In an agreement announced in July last year, private equity investment company Helikaon Investments took 100% ownership of the company and installed a new management team to increase local sales and expand into countries abroad.

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Busy BEEs

Cape Town’s three JSE listed em­powerment companies – Brimstone, African Empowerment Equity In­vestments (AEEI) and Grand Parade In­vestments (GPI) - have all reached critical junctures in their corporate development.

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BEE going global?

Last month two prominent Cape Town-based empowerment companies Grand Parade Investments (GPI) and African Empowerment Equity Investments (AEEI) strongly signalled their ambitions to look for cross border opportunities.

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SMIT Amandla Marine partners with enterprising women in business

AS a new entrant in the maritime space in South Africa, it takes a combination of commitment, courage and confidence to surge through the high barriers to entry typical of a niche industry. Just ask Gcina (Bagcinele) Nzuza, who together with business partner Belinda Theunissen, started 100% black, female owned, Cape Town-based Eyabakwethu Marine Energy (Pty) Ltd earlier this year.

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The DTI’s R1bn black industrialist grant

Lionel October, director general of the Department of Trade and Industry (DTI) announced that his department will enable black industrialists to access a R1bn grant, on top of a syndicated pool of funds to be created by funding institutions, including the National Empowerment Fund, the Public Investment Corporation and the Industrial Development Corporation. This was at the inaugural Black Industrialists Indaba, in Midrand, Gauteng, on Wednesday.

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