Refined Codes of empowerment

2013-10-17 00:00

THE generic scorecard has been reduced to five elements, with employment equity and management control being consolidated, and preferential procurement and enterprise development merged to form a supplier development element.

Key areas of refinement include:

• The points for ownership have been broadened to include designated groups in the main points.

• Thresholds for exempted micro enterprises and qualifying small enterprises have been adjusted.

• All companies, except for exempted micro enterprises, will be required to comply with the five elements of the B-BBEE scorecard.

• The introduction of three priority elements — ownership, skills development and supplier development.

• Large enterprises are to comply with all three priority elements.

• The priority scores of entities that do not comply with sub-minimum requirements in each priority will be discounted.

• Entities that are 100% black- owned will qualify as level one.

• Entities that are more than 50% black-owned will qualify as level two.

• Updated framework for the accreditation of B-BBEE verification agencies to include the Independent Regulatory Body of Auditors.

• Qualifying small enterprises must comply with all five elements on the scorecard.

• Skills development elements have been aligned to the New Skills Development Strategy.

— Department of Trade and Industry.

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