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Provided By Iris Business Systems
Property of Loubser Bulk Services
Black Economic Empowerment (BEE) is a programme launched by the South African government to redress the inequalities of Apartheid by giving previously disadvantaged groups (black Africans, Coloureds, Indians and some Chinese) of South African citizens economic privileges previously not available to them. It includes measures such as Employment Preference, skills development, ownership, management, socioeconomic development, and preferential procurement.
Enterprises may be rated based on various scorecards, however only the following have been gazetted as of February 2007:
The last two – Financial Sector scorecard and Construction Sector scorecard have not been passed into law. They were gazetted under section 12 of the act, which is for comment only. They will need to be gazetted in terms of section 9 of the act to become an official sector code. Until that happens all enterprises falling in these two industries are required to use the codes of good practice in producing a scorecard.
Significant leniency for Small Enterprises has been built into the gazetted codes. Based on the Qualifying Small Enterprises Codes, all companies with a turnover under R5 million p.a. is completely exempt from BEE and automatically qualifies as a level 4 contributor or achieves 100% BEE Contribution Recognition.
The generic broad based scorecard. All seven pillars must be addressed totalling 100 points
Qualifying Small Enterprises (those with an annual turnover from R5 – 35 million) are rated on the following scorecard and may choose any four of the pillars to address, totalling 100 points
We have a Level 4 BEE rating (A new higher rating is to follow)