Tag: Black economic empowerment

Amended Forest Sector Code (FSC) – Part 1 – Objectives and Key Principles

The Amended Forest Sector Code was published in Gazette 40803 on 21 April 2017. This is the first in a series of articles listing the basics of this sector code. The sector code lists a few objectives as shown below: KEY PRINCIPLES MEASUREMENT PRINCIPLES The fundamental principle for measuring B-BBEE compliance is that substance takes […]

B-BBEE REQUIREMENTS FOR JOINT VENTURES

What is a Joint Venture? Structures in business are not always simple. Implementing B-BBEE has revealed various complex structures, including joint ventures. A joint venture is a business arrangement wherein two or more parties, whether as individuals or entities, agree to combine resources for a specific business undertaking for profit. Two types of joint ventures […]

Rules for discretionary collective enterprises and BEE

Source: Government Gazette Number 44591 The purpose of the article is to provide clarity on how ownership by entities such as Broad-Based Schemes, Employee Share Ownership Programmes, Trade Unions, Not-for-Profit Companies, Co-operatives, Trusts (together “Collective Enterprises”) should be interpreted under the B-BBEE Codes of Good Practice (the “Codes) and arising from the DTIC’s Practice Note. […]

Socio-Economic Development Element

What does the Socio-Economic Development Element entail? According to paragraph 7 of Statement 000 of the Codes of Good Practice (the Codes), one of the elements identified to advance empowerment of black people is Socio-Economic Development (SED) which is contained in Statement 500. Every measured entity on an annual basis is required to contribute 1% […]

Understanding recognition of ownership through a private equity fund

What does a Private Equity Fund for B-BBEE purposes entail? The ownership element of the Codes of Good Practice (the Codes) seeks to achieve a substantial change in the racial composition of ownership and management structures of existing and new enterprises. The use of private equity funds is one of the ways to ensure that […]

THE AVIATION SECTOR SPECIALISED ENTERPRISE SCORECARD

DRAFT AMENDED STATEMENT ASC004: THE AVIATION SECTOR SPECIALISED ENTERPRISE SCORECARD This is part eight of a series of articles summarising the draft Aviation sub-sector code. This article discusses the SPECIALISED ENTERPRISE SCORECARD. ElementsASC 004-200 Management ControlASC 004-300 Skills DevelopmentASC 004-400 Enterprise and Supplier DevelopmentASC 004-500 Socio-Economic Development ASC 004-200 Management ControlKEY MEASUREMENT PRINCIPLES ASC 004-300 […]

The Legal Sector Code (LSC) – Part 3

In September 2024, the Minister of Trade, Industry, and Competition (the dtic) approved the Legal Sector Code in terms of section 9(1) of the B-BBEE Act. Two previous articles discussing this recent approval and the basic requirements of the Sector Code are available to read too. This article discussed the Priority Elements, Sub-Minimum Requirements, and […]

The Legal Sector Code (LSC)

Part 2 of 2024 In September 2024, the Minister of Trade, Industry, and Competition (the dtic) approved the Legal Sector Code in terms of section 9(1) of the B-BBEE Act. A previous article discussing this recent approval and the basic requirements of the Sector Code is available to read too. In January and February 2021, […]

The Event, Technical and Production Services Industry B-BBEE Sector code Scorecard

STATEMENT-400 GENERAL PRINCIPLES FOR MEASURING ENTERPRISE AND SUPPLIER DEVELOPMENT This is the tenth article in a series discussing the Event, Technical, and Production Services Industry B-BBEE Sector Code Scorecard. In this article, we discuss the basics of Code Series ETPSI-400: MEASUREMENT OF ENTERPRISE AND SUPPLIER DEVELOPMENT. OBJECTIVES OF THIS STATEMENT 1.1 Specify the scorecard for […]