Category: Black Economic Empowerment (B-BBEE)

BEE codes for small business flex muscle

BEE codes for small business flex muscleDewald van Rensburg    @City_Press City Press   12 October 2014 15:00 The long-awaited new BEE codes for small companies are far tougher than their 2007 predecessor. According to Keith Levenstein of consultancy EconoBEE, they could knock a company currently enjoying level 2 status all...

BEE codes for small companies chided

BEE codes for small companies chidedby Samuel Mungadze, 13 October 2014, 05:58 – Business Day NO SOONER had the Department of Trade and Industry published new codes that require black economic empowerment (BEE) in small business than critics emerged, arguing that the move would stymie small business. The government and...

EconoBEE - BEE Points = Business

Amended QSE Codes Released – EconoBEE Newsletter – 10 October 2014

We at EconoBEE are very excited to announce that the DTI has now gazetted for public comment the Amended B-BBEE Codes of Good Practice for QSEs, The Development Methodology for Sector Codes, Specialised Enterprises Scorecard, Sale of Assets and Equity Equivalents. The deadline for public comments is 14 November 2014....

EconoBEE - BEE Points = Business

Software solves B-BBEE Problems – EconoBEE Newsletter – 02 October 2014

Announcing EconoBEE V4 EconoBEE is proud to launch the next generation of its BEE scorecard calculator – EconoBEE V4, now incorporating the Amended B-BBEE Codes. About EconoBEE V4 Documentation and preparation is the key! It is essential for all companies to prepare an internal BEE Scorecard prior to being verified....

EconoBEE - BEE Points = Business

Critical mistake or fantastic loophole – EconoBEE Newsletter – 14 August 2014

Critical mistake or fantastic loophole. Practical interpretations have always been a key factor in determining the success of certain BEE transactions. The Amended Codes released in October 2013 with an anticipated start date of 1st May 2015 has all but guaranteed that without the right approach your score will drop...

bee advisory services

How Does Socio-Economic Development Work?

Socio-Economic Development (SED) is about facilitating sustainable access into the economy for black people. In order to gain maximum points in SED, the company has to spend 1% of NPAT. SED contributions can be monetary or non-monetary. Non-monetary contributions should be converted to a financial value in order to claim...

Press Release: Tenderpreneurs Phased Out

Tenderpreneurs Phased OutBy Keith Levenstein, CEO of EconoBEE – a B-BBEE advisory firm Tenderpreneurs are businesses whose sole mandate is to tender for business based on their BEE compliance status. The tenderpreneur then outsource that business to another business, usually a more competent business who has the required infrastructure to...

Press Release: OVER HALF THE ECONOMY FACE BEE JUNK-STATUS RATING

Nine industry sectors, representing more than half the economy, are at risk of becoming non BEE compliant when evaluated against the amended BEE codes that will be introduced on 1 May 2015. The sectors affected are construction, tourism, transport, forestry, accounting profession, ICT, agriculture, financial and property. Keith Levenstein, CEO...

bee questions

What does the “Points to Levels Table” mean?

Need a BEE Verification? We can assist you! View our managed services here. Click here to gather an enormous amount of free information from our website The scorecard is measured out of approximately 100 points. The codes have defined various levels that span a range of points. For example on the 2007 codes,...

Abolish the Tourism Sector Code!

Sector codes were designed to allow industries to change the scorecard to be more applicable to a particular industry. For example the financial sector code identifies “access to finance” as one of the important elements applicable to the finance industry. The Construction Sector code uses a different adjustment for gender...