THERE has been no significant change in the levels of transformation in the South African economy with black ownership declining to 25.2 per cent in 2018, says the Broad Based Black Economic Empowerment (BBBEE) Commission.

“This year’s report shows no significant change in the levels of transformation with black ownership reflecting a decline to 25.2 per cent black ownership from 27 per cent in 2017 and management control still sitting at 38 per cent for black people,” said the Commission on Wednesday.

This as the Commission recently released its National Status and Trends on Broad Based Black Economic Empowerment Report for 2018 as required by the B-BBEE Act.

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Section 13G of the B-BBEE Act makes it compulsory for all JSE listed entities, organs of state, public entities and SETAs to submit compliance reports on B-BBEE to the B-BBEE Commission, which the B-BBEE Commission must analyse in terms of section 13F (1) (g) of the B-BBEE Act.

The findings of the analysis for the 2018 calendar year compared to 2017 indicated no significant improvement as only 43 per cent (51 per cent in 2017) of JSE listed companies and 10 per cent (1 per cent in 2017) organs of state complied with the reporting requirement.

The requirement may be followed by referral for prosecution as the trend of non-compliance is “clearly undermining” the objectives of the B-BBEE Act.

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