THE ABSENCE of an institution to monitor, investigate and assist in executing broad-based black economic empowerment (B-BBEE) laws has slowed the pace of transformation, but the newly founded oversight commission is set to change this.B-BBEE commissioner Zodwa Ntuli, whose office will oversee compliance to empowerment laws, told Business Day on Wednesday the commission would be an effective tool to accelerate economic transformation and ensure that industry was properly regulated. However, transformation would have progressed far more had legislation been properly and fully implemented."Because black economic empowerment is a redress measure, we need to implement it quickly so we can get it over and done with and then move on," said Ms Ntuli.Trade and Industry Minister Rob Davies is set to promulgate the final regulations that will govern the commission’s operations before it can begin its work of receiving and investigating complaints.The 30-day commentary period on the draft regul...
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