In what must be regarded as a big win for business, Minister Rob Davies scrapped a plan that was announced on the 5^th May which had the potential to scupper new investment deals. In essence it had been proposed that companies would get fewer black economic empowerments points if their non-white shareholders were legal entities other than individuals or black-owned businesses.

The official notice issued on 5^th May had created a lot of uncertainty amongst investors and companies as regards timing. Public pressure forced Minister Davies to reconsider. We will keep you advised of any further developments in this regard.