Transformation in the gambling industry is dicey
The sector is betting on inadequate enforcement, and it's by no means alone, say experts
Transformation in the gambling industry is moving at a snail’s pace, but it’s a problem in all sectors, according to the Broad-Based Black Economic Empowerment (B-BBEE) Commission, which has revealed weak levels of compliance.
Busisiwe Ngwenya, executive manager for compliance at the B-BBEE Commission, was speaking on Thursday at the 2019 National Gambling Conference, where she detailed how the commission was dealing with hundreds of complaints of “fronting” across various economic sectors.
Fronting usually refers to black executives being given shares within a previously white majority-owned company, but not being granted any real power in making decisions and with no skills on how to manage being passed on. It’s a crime that can see those involved sentenced to up to 10 years in prison, but Ngwenya said the National Prosecuting Authority (NPA) was already overloaded, and those who committed such crimes often escaped prosecution entirely. ..