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Changes in the BBBEE sector Which are still up for public comment Make your say

Changes in the BBBEE sector Which are still up for public comment Make your say . These changes are still for the public to comment on before they are finalized and legislated. Visit the DTI (DEPARTMENT OF TRADE AND INDUSTRY) and view these legislations And make your voice heard

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Changes in the BBBEE sector Which are still up for public comment Make your say

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  1. Changes in the BBBEE sector Which are still up for public comment Make your say

  2. These changes are still for the public to comment on before they are finalized and legislated Visit the DTI (DEPARTMENT OF TRADE AND INDUSTRY) and view these legislations And make your voice heard as it is not the BEE verification agencies that are affected When changes are legislated

  3. Some of these key areas that were revised (BBBEE codes of good practice) and approved for Public comment and are as follows: currently there is 7 elements on the scorecard, it is soo n to be changed to 5 elements only 1.The generic scorecard (companies with turnover more than R35million), will be scored on 5 out of the 5 elements where they were rated on all 7 elements Where employment equity and management control being consolidated and Preferential procurement and enterprise development merging to form The supplier development element

  4. 2.Ownership element is broadened to include points for designated groups (which are employees that live in rural areas that work for the company which is being measured),where as before there was no allocation for this group at all under this element

  5. 3.Thresholds for exempt micro enterprises and qualifying small enterprises have been adjusted but has not been communicated to the public on exactly what the amount is. Where now it is above R5million for QSE(Qualifying small enterprises) And below R5million for EME(Exempt Micro enterprises)

  6. 4.QSE and Generic companies will have to be rated on 5 elements from the 7,Now QSE are rated on 4 and Generics are rated on all 7

  7. 5.Priority elements will be introduced as elements that the company will have to comply with In order not to be discounted, this applies to large companies which will be QSE and Generics

  8. 6.Exempted micro enterprises that are 100% black owned or more than 50% black owned will qualify as a level 1 7.Entities that are 50% black owned will qualify as a level 2 8.Updated framework for the accreditation of BBBEE AGENCIES to include the independent regulatory body of auditors(IRBA)

  9. 9.Skills development element have been aligned to the new skills development strategy and are to be outward focused, which means that training of staff will have to be done externally as internal training has caused a lot of made up documents and in turn caused a lot of falsified scoring on made up documents or documents that were not substantial. This has been implemented to solve this issue

  10. 10.QSE companies to comply with all five elements on the scorecard

  11. QUESTION AND ANSWERS These codes are available for public viewing and comment for 60 days and officially gazette by the Department of Trade and Industry(DTI)

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