Category: Knowledge and Resources Centre

The basics of B-BBEE

B-BBEE (Broad-Based Black Economic Empowerment) Produce a BEE scorecard for your Business By Keith Levenstein & Gavin Levenstein Published in the BBQ Scorecard Magazine – Dec/Jan/Feb edition The basics of B-BBEE Where does BEE come from? A short background to BEE (Black Economic Empowerment) or more precisely B-BBEE (Broad-Based Black...

The Adjustment for Gender – Exposed

Technical Article – Adjustment for Gender The concept of “adjustment for gender” was included in the latest codes. Prior to that there were specific indicators for black people and black females in many of the elements. The objective of the adjustment for gender is to recognise that black women play...

Crash Course in BEE – B-BBEE in 5 minutes

Get your FREE download of our BEE in 5 Minutes Crash Course. {tab What is BEE?} BEE, or more accurately B-BBEE refers to Broad Based Black Economic Empowerment is a policy of the SA government which encourages companies to help transform the country. BEE is about broad-based activities that benefit...

Verification Manual Released

The dti has released their Verification Manual: “The Verification Manual provides comprehensive and easy-to-follow guidelines on the authentication and substantiation of B-BBEE reporting, and minimum norms and standards on the ethical conduct and procedures employed in ensuring the verification of B-BBEE Codes of Good Practice.”   The verification guideline puts...

The Transitional Period

The transitional period was due to expire one year after the codes were issued, i.e. 9th February 2008. The minister has extended the transitional period for another 6 months. During the transitional period a measured entity has the right to decide to use either the transitional calculation or the applicable...

BEE with President Zuma?

How will BEE look with Jacob Zuma as president of the ANC, and possibly South Africa? The Zuma camp has been critical of the way BEE has been implemented. Even President Mbeki has complained about the slow pace of transformation, but has done nothing about it. Our article in 2006...

Competition Commission decides..

Our recent complaint regarding ABVA has been evaluated by Competition Commission which has come to the following conclusions and decisions: – Currently, the dti does not make the use of a verification agency mandatory but the decision whether to accept or reject scorecards produced by independent verification agencies or through...

CA Charter

THE CA Charter (chartered accountantancy profession charter) has been approved by the charter council and will be forwarded to the dti for gazetting in terms of section 12 of the act. Congratuatlions to all concerned!   This is certainly the best charter we have seen so far. It follows the...

ABVA Revisited

ABVA have modified their web page as requested by us, and we do acknowledge their response and thank them for this action. Anyone reading our articles may think we have “an axe” to grind with ABVA. This is not true – we expect a lot from ABVA, especially its members,...

ABVA Discredited

ABVA have updated their web site: The “About US” page states (as at 16th November 2007: “As an industry body, ABVA has been established in terms of Clause 1.5 of Statement 020 of the Broad-Based Black Empowerment Act No 53 of 2003. ABVA is registered as a Section 21 Company...

Critique of ABVA

ABVA – the Association of BEE verification Agencies has issued a statement outlining its role and trying to set up best practices. This is quite admirable. However the statement goes on to say: “During the workshop members agreed that from best practice point of view, it is important that credible...

BEE sector codes

B-BBEE Scorecard Rating

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   Time to produce a BEE Scorecard   EconoServ helps companies become BEE compliant in the easiest and most effective manner. We have all-round solutions for your...

10 Steps to BEE Compliance

EconoBEE’s 10 Steps to BEE Compliance Smart businesses recognise the need for BEE, the really smart businesses have started to implement BEE and take advantage of the business opportunities within BEE. We have prepared the 10 most important steps a business needs to take in order to best implement BEE....

Wine Charter

Wine Industry Charterby Keith Levenstein Business Report has reported that The SA Wine Industry Council has adopted a wine industry transformation charter. The charter is based on the definitions of  the codes of good practice, and also takes into account EMEs, QSEs and generic companies. The wine charter also has...

ABVA

We are concerned that ABVA members are telling their clients that the only acceptable rating is one from a fellow ABVA member – that self-rating or accountant/auditor signed BEE scorecards are not acceptable. This we believe is going to be responsible for more irritation towards BEE and transformation and have...

corporate BEE solutions

How to become BEE Compliant

Self-rating vs Verification Self-rating is an excellent way to produce a BEE Scorecard. However, some agencies are still saying that the only accepted scorecard is one produced by a member of ABVA. They, of course, are totally incorrect in terms of the Codes of Good Practice and this is counter-productive...

Enterprise Development

Enterprise Development is worth 15 points on the generic scorecard and 25 on the QSE scorecard. The aim of enterprise development is to assist black owned businesses – to ensure they become economically viable – that they grow and become profitable. In all cases, true enterprise development is sustainable enterprise...

Definition of: Exempt Micro Enterprise (EME)

Need a BEE Verification? We can assist you! View our managed services. Click here or you can gather an enormous amount of free information from our website   The Broad-Based Black Economic Empowerment Act, act 53 of 2003 makes provision for a set of Codes of Good Practice to define requirements for...

Charters vs Codes of Good Practice

The B-BBEE Act and the Codes of Good Practice made allowances for various industries to create their own charter – where the industry is different to other industries. The financial services sector were one of the first industries to look at creating their own charter. Other industries such as tourism,...

Substance over form – a principle for b-bbee?

On 9 February 2007 the long-awaited Codes of Good Practice (“The Codes”) were promulgated and established a blueprint for the implementation of broad based black economic empowerment (“B-BBEE”) as set out in the Broad-Based Black Economic Empowerment Act 53 of 2003 (“the B-BBEE” Act”). Almost two months earlier the Department...