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Government clear on implementation of B-BBEE Act

Government clear on implementation of B-BBEE Act

There is no confusion regarding the implementation of the Broad-Based Black Economic Empowerment Act, says the Department of Trade and Industry (dti.)

“The department would like to set the record straight regarding the implementation of the amended B-BBEE Codes of Good Practice in terms of the Broad-Based Black Economic Empowerment Act (B-BBEE Amendment Act 46 of 2013) for implementation on 1 May 2015,” said the department.

Its statement comes after it was reported that the department has yet to clarify a number of issues, including the draft qualifying small enterprise codes and the revision of sector codes.

Trade and Industry Minister, Dr Rob Davies, gazetted Phase I of the B-BBEE Codes of Good Practice on 11 October 2013, with a transitional period of 18 months, up to 30 April 2015 in preparation for implementation on 1 May 2015.

Phase II covers about 80% of the entire B-BBEE Codes of Good Practice. Phase II, which will be gazetted by Thursday, will cover the last 20% of the codes.

The following Phase 1 statements were gazetted for implementation:

  • Code 000 Statements 000 - General Principles
  • Code 100 Statements 100 - Ownership Element
  • Code 200 Statements 200 - Management Control Element
  • Code 300 Statements 300 - Enterprise and Supplier Development Element
  • Code 400 Statement 400 - Skills Development Element
  • Code 500 Statements 500 - Socio-Economic Development Element

Phase II includes the following statements:

  • Code 000 Statement 003 – Development and Gazette of Sector Charters (This statement is geared towards reporting and monitoring and providing oversight on sectorial performance by the Line Ministry)
  • Code 000 Statement 004 – Scorecard for Specialised Enterprise
  • Code 100 Statement 102 - Recognition in the Sale of Assets
  • Code 100 Statement 103 – The Recognition of Equity Equivalent for

Multinationals

  • Code 600 Statement 600 – Measurement of Qualifying Small Enterprises

“Some of the sector charters have submitted the aligned score codes to Minister Davies for consideration. They have also requested more time from the Minister in order to finalise their alignment processes and the Minister is considering the request,” said the department. 

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