BEE Trumping clause 24th October 2015 was an important date in the history of BEE. It marks exactly one year since the B-BBEE Amendment Act came into effect. The Amendment Act instituted many issues including penalties for fronting and the appointment of the BEE Commissioner. One little commented on aspect...
Our last newsletter “Overlapping Rating Periods – Right or Wrong” received such a wonderful response. Unsurprisingly it is a very controversial aspect of current verification preparation. Hopefully we will see some positive responses from the DTI to accommodate the unfairness caused by the DTI’s delayed announcement. Time to Abolish the...
The entire EconoBEE team is very pleased to announce that our partners EconoHR will be hosting the first in a series of events covering technical Labour Law practices. Executive Summary The Labour Relations Act which was recently amended, governs labour practices such as disputes and dismissals. Procedurally incorrect or...
Practical Implementation of the Amended BBBEE Codes Strategic implementation of B-BBEE using the Amended Codes is vital to achieve a high BEE score. The impact of the Amended Codes will be substantial, a current level 4 generic could quite practically drop to a level 8 or even non-compliant. Companies worse...
April 2015 was by far every BEE Verification agency’s busiest period. With as much as 60% – 70% of all companies going through a rating around that time period. Now that the “big April rush” is over we have more time to offer our insights into what will happen next....
Amended QSE CodesWe now finally have clarity on the Amended QSE Codes. The DTI gazetted them on 6 May 2015. Although small businesses have met them with mixed emotions, we are quite pleased that with early planning small businesses can still achieve a high BEE score. The Amended QSE Codes...
Amended Codes Planning The Amended Codes are set to come into full effect on 1 May 2015. This means that any business that relies on their BEE status to be awarded business needs to plan ahead to enure they achieve the best possible score. Join us for our Practical Implementation...
DTI Interpretations Catches President in Lie DTI’s interpretations has caused the President to be caught out in a lie. In his answers to the SONA debate, the President stated that only 3% of the JSE was owned by black people. The JSE then released its own study showing that black...
You’re receiving this information packed newsletter from EconoBEE Clarify your Amended Codes Strategy The Amended Codes are set to come into full effect on 1 May 2015. This means that any business that relies on their BEE status to be awarded business needs to plan ahead to enure they...
Final chance to get in before the Amended Codes The Amended Codes are set to come into full effect on 1 May 2015. Despite the media coverage () talking about potential delays it still remains in everyone’s interests to be prepared for the worst case scenario. Verification prior to 1...
Welcome back and happy new year to all our valued readers, clients and associates. Certainly the most overwhelming part to the new year is the bittersweet view that 2015 is the year that the Amended B-BBEE Codes come into effect. On Monday morning while welcoming back all our staff I...
EconoBEE has been working extremely hard since the Amended QSE Codes were released to ensure that the interests of small businesses are kept close at heart. The Minister when gazetting the Amended QSE Codes allowed comments to be submitted up until 14 November 2014 which was only 35 days from...
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....
Breaking News The DTI said last week Friday that the QSE Scorecard forming Phase two of the Amended B-BBEE Codes of Good Practice will be issued this week. We will once again be hosting practical informative sessions explaining the Amended QSE Codes. Details will be available on our website as...
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....
Stop the confusion – we need clarity We call upon the dti minister to issue a notice as soon as possible about the status of the sector codes, the QSE codes and the amended codes. The intention is that the amended codes will come into effect on 1st May 2015....
Dear [Name] Are you a 6 but want to be a 4? The higher your score the better your business opportunities. Too often you have undertaken the right broad-based activities but end up with 1 or 2 BEE levels below what you deserve. Maybe you did not document your activities...
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...
A fundamental aspect of implementing the Amended BEE Codes is the calculation. Calculating your scorecard internally as early as possible will give you the insights you need to understand where you are weak and how you can improve on your overall score. Even better you can calculate your...
Earning points on the Amended Codes is undoubtedly going to prove to be challenging. However the biggest challenges are going to come from applying the Amended Codes early enough in the year to continue achieving a good level. Breaking news – 08 July 2014 – The DTI has confirmed...
Dear [Name] The Amended Codes have now been gazetted and come into effect on 1st May 2015. These new codes will have an impact on the strategies that you need to implement. It will change the way you approach BEE and most importantly it will change the way your...
There is still time to implement all the activities needed to maintain your BEE points on the Amended B-BBEE Codes. Our Managed Service is an ideal solution for any business wanting to be pro-active when implementing B-BBEE. Through a long term view we are able to continuously keep track of...
At this point in time, you have adequate time to implement all the activities needed to maintain your BEE points. Our Managed Service is an ideal solution for any business wanting to be pro-active when implementing B-BBEE. Through a long term view we are able to continuously keep track of...
The elections are now upon us. We live in some very interesting times – however we can see many consistencies between the top political parties and their policies towards B-BBEE. Perhaps more fairly, not all the parties use the terms Black Economic Empowerment, but each one does have a view...
The Amended B-BBEE Codes are still a major talking point. Despite a small 6 month delay, implementing the Amended Codes needs to begin as soon as possible. Backtracking slightly – a few years ago when the ICT codes were issued many clients were worried about how the new ICT codes...
Dear [Name] Did you know that with the Amended Codes: That even if your supplier has a very good BEE level his recognition level will be zero unless he is an Empowering Supplier. If you have 25% black Ownership or even more you may still be discounted one level on...
We at EconoBEE are very excited to announce that the DTI has now gazetted the Revised/Refined B-BBEE Codes of Good Practice. You can download a copy from our website. Now that the revised codes are gazetted we have clarity as to how the new codes are going to be implemented....
The Revised BEE Codes have been a major talking point for anyone interested in B-BBEE. The minister unveiled the revised BEE codes at the BEE Summit last week. The Minister has now confirmed that the new codes will be released for implementation on 11th October 2013. Once the gazetting process...
Recently we hosted our Prepare for BEE Verification conference in Johannesburg and Durban. As usual the course was a great success. We were so motivated as we were asked some really good questions and our delegates were even more motivated in receiving good advice to solve their complex business...
Our excitement is building because the first of our conferences – How to prepare for a B-BBEE Verification is this Thursday in Johannesburg. We are looking forward to an information packed session where our delegates will leave with confidence and knowledge to make BEE Verification easy. Through a thorough understanding...