Trade, industry & competition minister Ebrahim Patel has come out strongly in support of broad-based ownership schemes including ownership by trusts, which he says are genuine BEE and must be recognised as such.

Patel’s statement, made on Friday at the launch of an expanded worker ownership scheme by Coca-Cola Beverages SA (CCBSA), signals a resolution to the longstanding conflict with BEE commissioner Zodwa Ntuli, who has declared that many broad-based schemes are BEE fronts, which do not qualify as genuine black ownership...

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