Redefining Ownership in ICT

In the new ICT codes, provision is made for equity ownership by historically disadvantaged persons (HDG). HDG means black persons, women and persons with disabilities and youth, who before the Constitution of the Republic of South Africa 1996 came into operation were disadvantaged by unfair discrimination on the basis of race, gender, disability, sexual orientation and religion.

The new minimum target for ownership of new individual license holders will be 30% black people and a minimum B-BBEE level 4 compliance. The level of compliance in terms of ownership needs to be maintained throughout the license period.

Strict compliance is required by the new regulations which state that non-compliance by a licensee can result in a fine not exceeding R5 million or 10% of the company’s annual turnover.

ICT companies have a 24 months transition period in which to comply with the new codes.
It is possible that the new definition of historically disadvantaged persons and the new minimum ownership is likely to impact other sector codes.

With EconoBEE being one of the oldest consulting agencies in the country, we can help you understand the recent changes and help with the transition and implementation from the old codes to the new codes with regards to ownership in the ICT sector.

Join us for the following upcoming workshops:
Title: Half – day B-BBEE Workshop
Date: 24 March 2020 (JHB)
Duration: 09h00 to 13h00
Price: R1 700 Excl VAT (Free of charge for our BEE Managed Service Clients)
Venue: Johannesburg – Office No 08, Braamfischer Office Park, 152 Bram Fischer Drive, Ferndale, Randburg

Title: Skills Development Workshop
Date: 07 April 2020 (JHB)
Duration: 09h00 to 13h00
Price: R1 700 Excl VAT (Free of charge for our SD Managed Service Clients)
Venue: Johannesburg – Office No 08, Braamfischer Office Park, 152 Bram Fischer Drive, Ferndale, Randburg

Contact us on 011 483 1190 to book. For more information, click here

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