The Amended Revised Codes of Good Practice on B-BBEE 2013
The Minister of Trade and Industry, Dr. Rob Davies, hereby announces the release of the revised B-BBEE Codes of Good Practice.
The Minister says the refined Codes symbolise a new beginning in the re-orientation of the transformation policy to focus more on productive B-BBEE and growing effective Black-owned enterprises.
According to Davies, key areas of the amended Codes include the Generic Scorecard consolidated into five elements and aligned to Government’s key priority programmes.
“The points for Ownership have been broadened to include designated groups in the main points, thresholds for Exempted Micro Enterprises (EMEs) and Qualifying Small Enterprises (QSEs) have been adjusted; All companies, except Exempted Micro Enterprises, will be required to comply with the five elements of the B-BBEE scorecard; The introduction of the priority elements: Ownership, Skills Development and Supplier Development, and large enterprises to comply with all three priority elements.; EMEs and QSEs that are at least more than 51% owned by Black people to qualify as a level 2 contributor; and those that are 100% Black-owned will qualify as Level 1”, he added.
Minister Davies highlighted that in line with the promotion of local production and industrialisation, the Revised Codes, in the Enterprise and Supplier Development element, introduces an Empowering Supplier, which is a B-BBEE compliant entity which can demonstrate that its production and/or value adding activities take place in the country. Such activities must include job creation and skills transfer.
A 12-month transitional period from today has been granted, during which the country is provided with opportunity to align and prepare for implementation of the Revised Codes.
The new elements of the B-BBEE scorecard are as listed below:
Minister Davies further said that the market is advised that the following statements remain in effect until amended:
1. Statement 103: Equity Equivalent Investment Programme
The revised piece of work on the above-mentioned will be released in the near future.