Latest Bee guide launched

2007-12-13 00:00

Clint Proctor (pictured), representing Emex Verification Agency and BEE Management, displays the latest edition of a handbook on various issues related to Black Economic Empowerment (BEE).

The fascinating handbook, now published several times a year, focuses on the role of consultants versus the role of verification agencies in matters pertaining to BEE, as well as issues around the need for BEE in the current socio-economic climate.

The handbook highlights BEE statistics, including the fact that the estimated number of ‘rated’ companies increased only marginally from 3,42% in 2005/06 to 3,66% in 2006/07, out of a sample base of 104 000 companies in South Africa. Pietermaritzburg-based Proctor has noted that the research revealed a concerted effort by rated businesses to improve their ratings. He said local businesses should not see BEE as an enforced programme, but rather as an opportunity for growth.

‘They should understand that it is a business decision and that it will open doors if used properly. The scorecard is something that they can market.’ Corporate social responsibility represents a good opportunity for a company to not only contribute meaningfully to society, but also to boost their scorecard. However, companies must consider who they support as the code of good practice stipulates that 75% of the beneficiaries have to be black.

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