BBBEE – new and ammended codes

BBBEE verification

BBBEE – New codes

On Friday 11th October 2013, The Revised Codes of Good Practice were gazetted.
The new code is the beginning of a new opportunity for transformation. It will allow South Africa to focus on productive BBBEE and the growth of black owned businesses.

There will be a transition period , thus the codes will come into operation within one year
of publication (2015).

The previous 7 pillars has been combined into the follow 5 pillars:

Ownership

Management Control

Skills Development

Enterprise and Supplier Development (ESD)

Socio-Economic Development

Companies are classified under 3 different categories according to annual turnover:

  • Exempted Micro Enterprises (EME) ( under R10 million per annum )
  • Qualifying Small Enterprises (QSE) ( an annual turnover between R10 & R50 million )
  • Generic Enterprises (an annual turnover of more than R50 million )

3 of the 5 Pillars are considered priority pillars. 
A minimum of 40% compliance is mandatory for these priority pillars.
Companies that cannot achieve this minimum requirement will drop at least 1 BBBEE level .

The 3 Priority Pillars are:

  • Ownership,
  • Skills Development and
  • Enterprise & Supplier Development (ESD)

Two of the above mentioned priority pillars are compulsory for QSE’s :

  • Ownership is compulsory
  • ESD or Skills Development

A Generic company will be required to comply with all 3.

With the changes in the ESD pillar, Value Added Suppliers will not earn you additional points as before. With the new codes Empowered Suppliers will earn you additional points.

Please don’t hesitate to contact We R Skills with question or queries you might have regarding the current or New BBBEE codes.

 

BBBEE rating solutions We R Skills offers:

We R Skills offers BBBEE services with the goal in mind to assist your organization to grow in profit and then assisting South Africa’s economy to grow too.

  • Information session / Advising to client
  • Collecting quotes from various verification agents
  • Information Collection from client for verification process
  • Preliminary scorecard estimate and discussion on the results
  • Organizing the Verification process
  • Accompany on pre-site inspection
  • Liaising with verification agents
  • Assisting the alignment and preparation of all relevant pillar for a higher rating

Fee’s are dependent on the employee count and company needs.

For a more accurate quote contact us


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