TRANSFORMATION IS KEY TO THE DEVELOPMENT OF THE GAMBLING INDUSTRY.
The North-West Gambling Board in its efforts to create Socio-Economic opportunities for the marginalised and previously disadvantaged individuals met with the B-BBEE Commission in Pretoria, Gauteng on Monday 30 July 2018.
The primary objective of the meeting was part of the ongoing stakeholder dialogues aimed at fostering good relations with various key stakeholders and licensees, encouraging active participation and addressing various challenges affecting Black shareholders in the industry.
"Whilst strides have been made in the last twenty-four years, issues such as fronting or fronting practices continue to be an area of concern for the Board and we are saying that, that needs to change.” Mr Oliphant said.
Mr. Oliphant insists failure to deal with lack of transformation and fronting will have far-reaching ramifications for the industry in near future.
"Fronting in its all forms and sizes must be nipped in the bud" Mr. Oliphant maintained.
The two parties have agreed on a collaboration which will include the B-BBEE Commission advising the North West Gambling Board on issues relating to possible fronting and licensing conditions. Part of a Memorandum of Understanding to be signed between the two regulators, the NWGB will also be referring cases to the commission for investigation and review.
The mandate of the Board is to regulate the industry and to ensure Socio-Economic benefit to the people of the North West.
The Gambling Board and the Commission have agreed to strengthen relations and address any form of misinformation or malpractice in the industry.