Overview of the gazetted Y.E.S Initiative

In a previous flyer dated 12 July 2018 the benefits of implementing the proposed Y.E.S Initiative were discussed. The Initiative has since been gazetted by the Minister of Trade and Industry within Code Series 000, Statement 000 of the Amended Codes of Good Practice in terms of Section 9 (1) of the Broad-Based Black Economic […]

Socio-Economic Development, the NPAT calculation and industry norms

In a previous article in July 2018 the benefits of implementing Socio-Economic Development were discussed. The financial aspects within SED are often misunderstood as the compliance criteria and resultant calculations could be confusing. The most critical aspect of this B-BBEE Element is that SED initiatives should result insustainable economic participation by its intended beneficiaries and […]

Socio-Economic Development and the NPAT calculation

The objective of this element is to measure initiatives that contribute toward SED or to Sector Specific Programmes that promote access to the economy whereby contributions are any monetary or non-monetary contribution implemented for  individuals (natural individual or group of natural individuals) or communities, where at least 75% of the beneficiaries are classified as black […]

Understanding the modified flow-through principle – Ownership

What is it? Under the Ownership element of the BEE Scorecard, the flow-through principle traces ownership measurement through the chain of ownership to a natural black person (and not a Black owned company). The modified flow-through principle allows for the participation of non-Black participants at one tier of ownership. The matter at hand? To curb […]

Code 400 series of the Codes of Good Practice – Enterprise and Supplier Development

What is it? A draft gazette, Number 41709 dated 29 May 2018, published on 15 June 2018 for 60-day public commentary with regard to Code series 400 of the B-BBEE Act—Enterprise and Supplier Development. The matter at hand? 1. New definitions proposed. 2. Revised Enterprise & Supplier Development Code 400 wording. Detail? Significant proposed changes […]

Further proposed amendments to the B-BBEE Act

In an ever-changing world, one thing is for certain: get used to adapting to change. On 29 March 2018, the Minister of Trade and Industry published draft amendments to the Broad Based Black Economic Empowerment Codes (“Codes”) for public comment in Gazette Number 41546. The proposed amendments are in line with the Government’s policy to […]