The Department of Trade and Industry (the dti), would like to set the record straight regarding the implementation of the amended Broad-Based Black Economic Empowerment (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.
The Minister of Trade and Industry 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 BBBEE 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, and
Code 500 Statements 500 – Socio-Economic Development Element
Minister Davies has approved Phase II of the Codes for implementation and they are being gazetted and will be available during the course of this week.
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 Minister is considering the request.
Issued by: Department of Trade and Industry
Source : South African Government