BEE Summit, refined/revised BEE codes
The govt is holding a BEE Summit on 3rd,4th October 2013. The summit will be opened by the President who is likley to report back on progress made so far in B-BBEE.
The minister of trade and industry Dr Rob Davies is then going to unveil the revised (refined) BEE Codes. It is still not clear if these will be finalised codes or another draft giving the public the opportunity of commenting again on the codes.
In October 2012 the minsiter released revised codes for public comment. Over 500 submissions were received, including from EconoBEE. The refined codes will build on the revised codes and submissions.
Issues with the draft codes of 2012:
– QSE codes and specialised enterprise codes were not included.
– The points to levels table was changed dramatically:
?95 but <100
?85 but <100
?90 but <95
?75 but <85
?80 but <90
?65 but <75
?75 but <80
?55 but <65
?70 but <75
?45 but <55
?55 but <70
?40 but <45
?40 but <55
?30 but <40
– Points earned per element were changed as follows:
Enterprise and Supplier Development
At the same time management control and employment equity were combined into one element called maangement control, and preferential procurement and enterprise development was combined into one element calleed enterprise and supplier development
- Ownership, skills and enterprise and supplier development are designated as “priority elements”. If a comany does not receive at least 40% of certain targets on the element’s scorecard, the company will drop 2 levels.
- Procurement removes imports as an exclusion and only allows recognition for procurement from value adding suppliers.
- Sector codes were not addressed
- Implementation/start-up date and transitional period were not discussed
We expect the BEE Summit to address these issues.
Watch this space….