Zero Hour for Amended BEE Charters – EconoBEE Newsletter – 4 February 2016
Zero Hour for Amended BEE Charters
For years we have been pointing out the problems with sector codes: ineffective sector councils, non-compliance by entities, delays with reports and amendments, to name a few.
The original amended codes were issued as a draft in 2012. Final codes in 2013. In 2012 we pointed out that the sector codes needed to be aligned. By 2014 this had become a crisis. Nothing happened. In May 2015 after the amended codes came into effect the minister stated that he would consider repealing any sector code not ready for gazetting by 30th October 2015. Various media statements in October 2015 confirmed that the minister would make his decision by 15th November.
On 2 November 2015 the dti spokesperson stated: Sector Charter Councils have until the 15 November 2015 to submit aligned Sector Codes for approval to Minister of Trade and Industry, Dr Rob Davies. All existing Sector Codes that have not submitted application for approval to the Minister to be aligned with Broad-Based Black Economic Empowerment Codes of Good Practice will be repealed. Once sector codes are repealed, entities operating in the affected sectors will use the Amended B-BBEE Codes of Good Practice for measurement.
The above is not an official notice. All it says is sector codes not submitted by 15 November 2015 will be repealed. We, the public do not know which sector councils have, or have not submitted their draft. We have to wait until the minister issues his gazette! Even this would have been very late, and too delayed. However the minister has still not issued any gazette formally giving his intention to abolish any sector code. The BEE Act is…
Changes to the legislation will cause most businesses scores to drop substantially which will substantially limit their competitiveness in the market place. Alternative activities to earn points such as changing suppliers might require a radical directional change in business thinking and processes. Identifying points scoring activities while simultaneously eliminating weaknesses is essential to maintaining a satisfactory scorecard.
A good understanding of BEE is perhaps the single best method to cause long term improvements to your companies BEE status.
EconoBEE is proud to offer various courses designed to increase your understanding of BEE.
Preferential Procurement – Save Time by using the BEE Procured database containing over 70 000 BEE Certificates. Managed Service: Our consultants can phone your suppliers for a BEE certificate – Managed Service.
While there is demand for a B-BBEE Scorecard someone will be taking advantage, shouldn’t that someone be you…
EconoBEE is an expert BEE consultancy. EconoBEE helps businesses Become BEE Compliant, prepare for verification, earn maximum BEE Points and ensure that they achieve the BEE Level they need to get more business.