Original publish date – Thu, 26 Aug 2010 10:56:57 +0000, Keith
If it does not look like a duck, does not walk like a duck, does not sound like a duck, then it probably is not a duck, even if it tells you its name is “Duck”.
If they call it a BEE deal or a BEE company but it does not sound like a BEE deal or a BEE company, then it is not a BEE deal.
I’ve said this hundreds of times, and the media, commentators, businesspeople and government still insist on calling it BEE even if it is not BEE.
B-BBEE was created and defined by the Broad-Based Black Economic Empowerment Act, 53 of 2003. It defined a set of codes that set up a system of measuring B-BBEE complaincy. That system is called the scorecard. The scorecard measures various indicators against targets, and assigns weightings to each indicator which convert to points. The final result after doing all the calculations is a B-BBEE scorecard. The scorecard needs to be verified (checked) and a certificate is issued. That valid certificate is the ONLY measurement of B-BBEE compliance. If someone talks of a BEE deal, or a BEE company, the only question to ask is “How many points does this deal earn/has this BEE company achieved? ” If there is no answer, or the answer is zero, there is no B-BBEE compliance, and no one may call this a BEE deal.
Even if they say it is BEE, does not make it BEE.