The collapse of BEE deals and the recent notice by the minister of trade and industry on verification is definitely a sign that companies need to acquire knowledge and properly implement BBBEE. “Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power which knowledge gives.” (James Madison the fourth president of USA)
Many companies have tended to focus on a quick fix to transformation or on the ownership element leaving the other elements of BBBEE.
All this points to the importance of acquiring BBBEE knowledge. For instance enterprises can earn points by incorporating black women into the mainstream economic development. However a snap shot of the top companies shows management, employment equity and skills development elements still needs improvement. Black women have enhanced recognition through the Adjusted Recognition for Gender calculations. If an enterprise has black women that make up at least 50% of the overall set targets for black people they increase their points on management, employment equity and skills development elements. According to a recent report by the Business Women Association (BWA) in The Star Business report, there is a general increase in the employment of women in top executive positions. The increase is still minimal and not representative of the large pool of women available to take up these positions and black women fill fewer leadership roles.
It is time for companies to arm themselves with the power of BBBEE knowledge. Our conferences/seminars/workshops and the BEE scorecard methodology to help you carry out initiatives that will make you earn the points you deserve and also accurately calculate your points.
B-BBEE, BEE Compliance, BEE ownership, BEE Scorecard Rating, Implementation of BBBEE, True Empowerment, Verification
The National Treasury has refuted news reports that the FSC no longer exists. Please read.
I am dumbfounded. It is patently obvious that National Treasury is either totally confused or deliberately trying to sabotage B-BBEE.
For the information of National Treasury, any charter comes into force when the dti gazettes it as a sector code in terms of the Codes of good practice. Until then it is a DRAFT charter and carries no force of law, is not considered a charter or code of good practice and no one may use it in calculating their BEE status as per the B-BBEE Act.
National Treasury may not give any special dispensation to the financial industry to use the FSC, as they do not control the B-BBEE act – the dti does.
Much as I have respect for minister Trevor Manuel, there have been numerous reports of him condeming BEE. Is this another strategy of his to discredit B-BBEE and the dti?
BEE Compliance, BEE Scorecard Rating, financial services charter, National Treasury, Trevor Manuel
Today I received an email from our business contact in KZN, Nofesa.
It was an email forwarded from the Services SETA who are offering a grant to companies who are BEE Compliant.
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The BBBEE EME Certificates Project: This is for the levy paying SME’s with an annual turnover of less than R5million. They will be awarded with SSETA funded certificates and all they need to do is fill in the attached Interest form.
2. The BBBEE R5000-00 Discretionary Grant: This is for levy paying companies with an annual turnover of above R5million. They will be getting a R5000-00 grant if they are BBBEE Compliant and have a certificate that was issued in the last six months. The letter explaining the whole process and the requirements has been attached.
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BEE Compliance, BEE Grant, Services SETA, SETA
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