Breaking News: Four Amended Codes!

Recently we’ve been talking a lot about ownership and how to implement it correctly in your business, but now the new topic is around the latest amendments to the codes. We have analyzed the new amendments that were released on 31 May 2019 (Government Gazette No 42496). Some interesting changes include the following:

• Schedule 1 Interpretation and Definitions – Amendments:
  • Designated Group Supplier: added definition
  • Absorption definition: amendment

• General Principles and the Generic Scorecard – Amendments:
  • Sub-minimums: Explanation
  • Unincorporated Joint Venture: Added measurement

• General Principles for Measuring Enterprise and Supplier Development – Amendments:
  •  Suppliers within a company’s supply chain cannot be considered an Enterprise development beneficiary
  • Guarantees: ESD matrix has been updated

• General Principles for Measuring Skills Development – Amendments:
  • Double counting on various interventions have been ruled out
  • Capping of Category F and category G training interventions have changed to 25% (This is as opposed to 15% that it was previously capped at)

We have included a link to download the 4 amended codes as gazetted: https://www.econoserv.co.za/download/

Please note: we have only highlighted two changes for each amended codes and so above is not an exhaustive list of the amendments and inclusions to the amended codes.

Join us for our upcoming BEE workshops:

Lianne Friedman, our CEO, is hosting a series of full day workshops that will assist you in preparing for financial year end, help obtain some much-needed points and prepare fully for verification. These courses are designed to help the key people in your organisation to understand the requirements and the codes and to design and implement strategies to increase the company’s B-BBEE scorecard.

Title: Full Day BEE Workshop including the Amendments to the B-BBEE Codes

Date: 18 July (JHB), 27 August (DBN), 09 October (CT)

Duration: 09h00 to 17h00

Price: R3 913.04 Excl VAT (50% discount for BEE Managed Service Clients)

Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito, Cape Town – TBC

To book please email us on pheliswa@econobee.co.za or call us on 011 483 1190

For more information on the various workshops we hold, please visit https://www.econoserv.co.za/training-workshops-seminars/