B-BBEE Performance Underreported, Calls for Enhanced Monitoring, says Commissioner Matona

Broad-Based Black Economic Empowerment (B-BBEE) Commissioner, Tshediso Matona, has raised concerns on the lack of comprehensive reporting of B-BBEE performance by South African entities. As per his announcement on Wednesday, only 33% of companies listed on Johannesburg Stock Exchange (JSE) and 95 of South Africa's numerous public entities have been submitting their B-BBEE performance reports to the commission as mandated.

The inadequate reporting has meted out challenges for the commission in measuring and monitoring the effective participation of black people in the country's economy. The commissioner expressed, “Because we don’t read from the same evidentiary base we don’t have a shared view of progress or the lack thereof."

This scenario has consequently clouded the perception of B-BBEE policy's efficiency and the progress it has made towards bridging racial disparities in the business sector. The lack of a unified data set to evaluate the policy impact in the larger business landscape has hindered the appraisal of the country's strides towards economic inclusion.

The commissioner has implored South Africa's corporates and public entities to augment their compliance with the commission's reporting requirements. This, he hopes, will enhance the commission's efforts in tracking the policy's impact, thereby informing more accurate policy adjustments to maximize B-BBEE's effect on economic inclusivity.