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Economic Empowerment legislation
Summary of the 2013 new codes.
The amended Codes of Good Practice for Broad-based Black Economic Empowerment that came into effect on 1 May 2015 will significantly reduce current compliance levels – by two to three levels.
It is imperative that companies measure themselves in terms of the revisions then plot their path to return to former levels. The revisions were gazetted in 2013 but are being implemented now and represent a further wave in the B-BBEE legislation of the Department of Trade and Industry.
Initially, narrow-based empowerment (ownership and management only) was followed by broad-based empowerment, which incorporated seven elements: ownership, management control, employment equity, skills development, preferential procurement, enterprise development and socio-economic development.
Now the number of elements is being reduced to five: ownership, management control, skills development, enterprise and supplier development and socio-economic development.
Purpose of the Codes
Section 9 of the Broad-Based Black Economic Empowerment Act No. 53 of 2003 (BEE Act) legally provides for the issuing of Codes of Good Practice on broad-based black economic empowerment. Besides the dti’s Strategy for Broad-Based Black Economic Empowerment and the BEE Act, drivers of transformation charter processes to date, have lacked a standard BEE framework from which to develop charters. Furthermore, some charters were developed even before the BEE Act and the Strategy document were released. Consequently, there exists substantial incomparability amongst charters, with respect to content as well as criteria for measurement. This results in entities in certain sectors with stricter measurement criteria being unfavourably disadvantaged when competing for business with entities in sectors with more lenient measurement criteria.
- B-BBEE Act
- Amended Codes
- 2015 QSE Codes of Good Practice
- Amended Code Series 000
- Amended Code Series 300
- Amended Code Series 400
- Section 9 (1) Codes of good practice as amended
- Newly Released Mining Charter for Public Comment
- Draft Schedule 1 of 2018 for 60 Day Public Commentary
- Amended Foresty Sector
- New Agri Sector Code
- Amended Sector Codes for the Construction
- Financial Services sectors
- Notice to Repeal Sector Code
- Draft Amended ICT Sector Code
- Transport Sector Gazette
- Draft Amended FS Code
- MAC Sector
- Broad-Based Black Economic Empowerment
- B-BBEE Facilitators Status Industrial Development Corp
- Draft Preferential Procurement Regulations
- B-BBEE Commission Practice Guide One
- B-BBEE Commission Practice Guide Two
- Empowering Supplier Notice 31Oct2016
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Being proactive is our culture and to capacity developments. We put our customer first all the time; more than 90% of our employees are Black youth with Accounting, Auditing, Law, Human Resource, and Administration qualification which are key expertise for our filed of work.
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