Amended B-BBEE Code of Good Practice – May 2019 update

Government Gazette #42496 was published on 31 May 2019. This gazette lists a number of changes made to the B-BBEE Code of Good Practice. Many changes are not in force from 31st May but become effective from 01 December 2019 and Measured Entities can choose to use them now. Changes to definitions, procurement recognition rules […]

Amended Information and Communication Technology Sector Code

The ICT Sector comprises the Broadcasting, Electronics, Information Technology and Telecommunications sub-sectors together with participants from the social partners, namely Government, Labour, Community, and ICASA. The charter in Gazette 40407 dated 07 November 2016 may be found here (pdf document). The Code utilises the Generic Codes as a base for its charter as far possible […]

Chartered Accountancy Sector Code: open for public comment

The Chartered Accountancy (CA) profession formulated their own Charter in 2004. After numerous revisions and consultation sessions, Government has gazetted the CA Charter on 26 April 2019 and the public has 60 days to comment on it. The revised charter may be found in Gazette 42417 here (pdf document). The CA Charter utilises the Generic […]

Improving your B-BBEE Score

Improving your B-BBEE Score is essential to opening further avenues of business opportunities in South Africa. B-BBEE is not a once-off exercise and all businesses, should develop effective strategies and plans to effectively promote and implement B-BBEE in all facets of their operations which may also result in an improved B-BBEE rating. If the essence […]

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 forĀ  individuals (natural individual or group of natural individuals) or communities, where at least 75% of the beneficiaries are classified as black […]