Once empowered, always empowered?
07 July 2016
I own a mining company. In 2004 we sold a 26% stake in our company to a black entrepreneur in... order to meet the requirements of the Mining BEE Charter. The same partner recently decided to sell his shares back to us, which means we have lost our BEE ownership. I have however heard of the principle of ‘once empowered, always empowered’ applying in the mining sector. Is this true and will my company still be recognised as having BEE ownership?