This month we discuss what opportunities the B-BBEE legislation overhaul may bring; we feature Lennin Marule of Marule Property Developers Holdings and Abednico Makina of Phelo Pele in our success stories; and Gerrie van Biljon looks at what responsibilities come with entrepreneurship.
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March 2013   |   Volume 5.3

Opportunities await in the overhaul to B-BBEE legislation

The official rules measuring the black economic empowerment score of a business is set for major overhaul in the near future, and business owners are advised to assess these changes early to identify opportunities and measures to ensure their B-BBEE accreditation levels are not negatively affected, says Ben Bierman, Business Partners chief financial officer.

Whatever the changes to the B-BBEE legislation and its regulations (called “Codes”), the broad framework and approach of South Africa’s B-BBEE legislation will remain unchanged.  More importantly, the elements or initiatives identified and prioritised will continue unchanged but for new targets and measurement criteria.

Success story:
Born with an insatiable business drive

Proponents of the school of thought that says “focus on your core business” may frown on Lennin Marule’s business. His company, Marule Property Developers Holdings, does student accommodation, property development, property valuations, auctioneering, general construction, transport and catering. Oh, and he also owns 52% of a coal mine.

But those who knew Lennin as a child would simply have to shrug and accept that it was always in him, an insatiable drive to work, wheel and deal....

Success story:
Building a lasting family legacy

Abednico Makina, an entrepreneur in deep-rural Limpopo, can see his grandfather’s formative influence in the chain of four pharmacies that he has built up over the last six years.

It was from him that he learned how businesses can grow where none had ever been before. His grandfather was uneducated, but with “lots of business wisdom” he managed to build a thriving supermarket in the rural village near what is today the fast-growing mining town of Burgersfort.

Blog: Entrepreneurial freedom comes with responsibility

By Gerrie van Biljon

One of the major reasons why entrepreneurs decide to start their own business is the freedom that this lifestyle offers. They want to take their own decisions and are prepared to take the consequences.

Entrepreneurs are by nature risk takers and they realise that it may culminate in serious or negative results, but they always see the positive and remain forever optimistic. If the decision was the right one, the benefits and results offer a great deal of personal satisfaction and a wonderful sense of achievement.

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Contact: Piet Strumpher
Tel: 021 464 3600


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About EOY
The 2013 Sanlam / Business Partners Entrepreneur of the Year® awards, which aims to honour, benefit and uplift South African SMEs, is officially open for entries. This annual competition celebrates excellence in South African entrepreneurship and serves as an inspiration to others to succeed in the world of business.

The competition kicks off the national workshops in East London on 19 March. Each workshop will tackle the question: are we doing enough to celebrate entrepreneurial excellence in South Africa? Visit the EOY website for more information on the workshops and to see when one will be happening in your area.

Entries close on 16 June 2013, so submit your entry today.
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