South African Law Firms Granted Extension on Black Ownership Compliance Amid Legal Dispute

Norton Rose Fulbright, Webber Wentzel, and other law firms required to comply with South Africa’s policy mandating 50% Black ownership have received a 12-month extension to adhere to the new rules. This development comes despite an ongoing court challenge against the Legal Sector Code on Broad-Based Black Economic Empowerment (B-BBEE), which seeks to mitigate historical racial imbalances within the legal profession. A significant criticism of the policy was its initial lack of a transitional phase, with some firms initially concerned that immediate compliance would be necessary. Companies will ultimately need to comply by 2026. For further details on the policy and ongoing legal proceedings, the full article can be accessed here.