DRAFT AMENDED CODES!
On the 25th of September 2019 the draft amendment Tourism B-BBEE sector codes were announced. The draft amendment Tourism sector codes aim to create a sustainable tourism industry that is globally competitive, but also transformed with the empowerment of Black people.
The sub-minimum requirement for the priority elements of ownership, skills development and enterprise and supplier development is 40%. It is noted under enterprise and supplier development, for the avoidance of doubt, that the minimum requirement for a measured entity is 11 points under the Preferential Procurement category; 4 points under the Supplier Development category; and 2 points under the Enterprise Development category;
Clarity is given in the Tourism codes around how the flow through principle will apply, as well as guidelines on the turnover threshold to measured entities that are EME, QSE and Generic which is different to amended codes of good practice.
The draft amended Tourism sector codes have also had changes to definitions and some new definitions with respect to absorption, current equity interest date, designated group supplier, long term contract employment, new enterprise.
The draft amendment tourism sector codes are a clear indication that all other sector codes will be amended to align them with the 2019 amended codes. Measured entities in other sectors such as MAC, ICT, Financial services, Accountancy, Property, Construction etc. need to plan for 2020 with this in mind.
With EconoBEE being one of the oldest consulting agencies in the country, we can assist you in finding out if the recent changes apply to your entity and also help you with the transition and implementation from the old codes to the new codes.
It is Employment Equity submission time again! Join us for an in-depth look at Employment Equity whereby we will help you prepare for this important submission:
Title: Full Day Employment Equity Workshop
Date: 29 October (JHB)
Duration: 09h00 to 16H30
Price: R3 913.04 Excl VAT (50% discount for our Managed Service Clients)
Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg
In addition, EconoBEE is offering an 8-week series of two (2) hour overview workshops (09h00 – 11h00) for each element on the B-BBEE scorecard. We would like to invite you to come join us at 435 Rugby Avenue, Ferndale on the dates listed below:
16 Oct – Management control
23 Oct – Ownership
30 Oct – Skills Development
06 Nov – YES Initiative
13 Nov – Enterprise and Supplier Development
20 Nov – Procurement
27 Nov – Socio-Economic Development
04 Dec – Verification
The cost for the 8 week series is R850.00 excl VAT for each session, please contact us on 011 483 1190 or email firstname.lastname@example.org to book.