Ports Regulator of South Africa and B-BBEE Commission sign MoU

Ports Regulator of South Africa and B-BBEE Commission sign MoU

A Memorandum of Understanding (MoU) aimed at addressing transformation in the ports sector has been entered into between the Ports Regulator of South Africa (PRSA) and the Broad-Based Black Economic Empowerment (B-BBEE) Commission.
A joint statement by the regulator and the commission explained that the MoU provides for the exchange of information, strategies, expertise and research related to B-BBEE and transformation.
Furthermore, the MoU will provide a platform for strengthening the partnership on the sector’s economic transformation.
“It is intended that the partnership between the PRSA and the B-BBEE Commission will help address the slow pace of transformation. The PRSA report on “Implementation of Broad- Based Black Economic Empowerment in South African indicates that Black Ownership in port terminal operations hovers below 20%, for leases 18%, and 12% for services and facilities. The Ownership by Black Women in the sector is worryingly below 15%.
“On the other hand, the B-BBEE Commission’s National Trends and Status report on B-BBEE for the year 2022, shows that while the Integrated Transport sector managed [to] reach 58% of Black Ownership by JSE listed entities in 2022, and 25% for Black Women, the Ports sub-sector still lags behind.
“This demonstrates that an overarching challenge faced by the PRSA and the B-BBEE Commission is the issue of enforcement and accountability for non- compliance with the B-BBEE Act,” the statement read.
The statement said the commission has played a leading role in “strengthening of accountability and enforcement” of the act but the MoU will enhance monitoring.
“It is anticipated that the collaboration between the B-BBEE Commission and the PRSA will enhance monitoring of transformation activities within the Ports Sector to ensure that black operators and port users benefit in [the] future. [The] MoU states that both partners may from time to time engage in awareness and advocacy programmes concerning B-BBEE.
“In this regard, it should be possible for example, where the PRSA identifies sub-sectors of the Ports where compliance and enforcement should be strengthened to collaborate with the B-BBEE Commission on research and appropriate interventions required, based on the respective mandates of the two entities,” the statement read. – SAnews.gov.za
 

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Thu, 03/14/2024 – 11:39

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