How will the revised B-BBEE legislation affect you? – EconoBEE Newsletter – 18 October 2012

EconoBEE - BEE Points = Business

How will the revised B-BBEE legislation affect your business? This is what you need to know;

  • The revisions are issued as a section 9 (5) which means we have 60 days to comment. The DTI will then collate the responses and issue a new set of codes. Exactly how long that will take is virtually impossible to know. The first set of codes were initially published in December 2004 and eventually gazetted in February 2007. However, in between the DTI issued codes in 2005 and then again towards the end of 2006. The codes issued in 2006 would have been gazetted if cabinet hadn’t commented that they were too complex.
  • The new B-BBEE act is soon to be gazetted. We anticipate more emphasis to be placed on fronting which appears to include any company that does not produce a scorecard. The consequence of this is that the procurement mechanism is being partly replaced with a legal obligation to comply. In effect non-compliance in the past meant potential losses, now means potential fines and even jail time.
  • Revised procurement recognition table will drop your level significantly.
  • More emphasis than ever before is going to be placed on making B-BBEE a success however difficult it may be. If not a success the next change will probably not be revised codes or a new act but the abolishment of B-BBEE in favour of nationalisation or another economic redistribution system.

Overall it is going to become more difficult to achieve a high score even though customers will still demand a high score. Since changes are inevitable and those changes will make becoming BEE compliant more difficult it now becomes absolutely vital to prepare for and achieve a good scorecard before the new codes are finalised.


New Supplier Development Element – 40 valuable points

Our annual BEE Procurement and Enterprise Development Conference held in November 2012 will now incorporate the future implications of the revised B-BBEE Codes! Book early and qualify for our early bird special.

Details:

CostR3990 incl VAT
Venue15th November 2012 – CPT – Belmont Conference Centre
22nd November 2012 – JHB – Montecasino Conference Centre
29th November 2012 – DBN – Makaranga Garden Lodge
Time8:30 for 9:00 to 17:00
Booking Download our brochure and fax to 011 483 1195 or fill in our online form
Email info@econobee.co.za
Contact 011 483 1190
More infoOnline details on www.econobee.co.za, email info@econobee.co.za or contact 011 483 1190

Book now and gain the business you deserve.

 

 

 

 

 

 

 

Revised B-BBEE Codes Briefing Session

The Revised Codes are out. EconoBEE will be holding a series of briefings on the new codes and provide a submission to the dti.

DetailsRevised B-BBEE Codes Briefing Session, including breakfast
CostR1140 incl VAT
Venue22nd October 2012 – Johannesburg – Montecasino Conference Centre
1st November 2012 – Cape Town – Belmont Conference Centre

Due to high demand we are scheduling additional sessions. Call for details. Or visit our website.

Time7:30 for 8:00 to 11:00
Booking Download our brochure and fax your booking form to 011 483 1195
Email info@econobee.co.za
Contact 011 483 1190
More infoOnline details on www.econobee.co.za, email info@econobee.co.za or contact 011 483 1190

 

 

While there is demand for a BBBEE Scorecard someone will be taking advantage, shouldn’t that someone be you…


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Remember
BEE Points = Happy Customers


That’s it for the time being.
Regards
Gavin and the EconoBEE Team

About EconoBEE

EconoBEE assists companies prepare their BEE Scorecard for Verification by offering consulting & advisory services, management tools and training courses. This ensures a cost effective and efficient approach to becoming BEE compliant.

Contact Us

Tel: 011 483 1190
Fax: 011 483 1195
Email: info@econobee.co.za
Web: www.econobee.co.za

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