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Impact of Revised B-BBEE Codes - EconoBEE Newsletter - 09 October 2012 |
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Tuesday, 09 October 2012 10:12 |
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Impact on your current scorecard
The revised B-BBEE Codes of Good Practice will have a major impact on your current B-BBEE certificate.
Even though they have only been issued as a draft for comment, preparation needs to start immediately.
We will be hosting a series of highly informative briefing sessions in October/November which will discuss the changes in great detail.
If you would like to book please email
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or download our brochure.
Alternatively contact our consulting department who will be able to calculate a revised codes scorecard, prepare you for the implementation of the revised codes and take the stress out of implementing B-BBEE.
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The revised B-BBEE Codes have now been gazetted. There is a 60 day period for public commentary and submissions. The more we look at the draft codes the more despondent we become. Unless we put in a submission, and many others also contribute or do their own submission, the draft codes may well become law next year this time. The impact of the new revised codes could mean a good generic level 4 company could become non-compliant or worse your score however good could be completely disregarded because your business is not "value-adding".
Some time back we criticized the ICT sector code because it is so sloppy – spelling mistakes, errors of logic, cut and paste from the codes without thinking. On the other hand the construction sector code is well written and brings in many good features.
The draft codes unfortunately follow the ICT approach. It talks of QSEs, and refers to Code 600 where the QSE scorecard is apparently described. Unfortunately the government gazette only goes as far as Code 500. The dti asks for submissions and comments, and gives us 60 days to comment. It is difficult to comment on something that is not there.
The draft codes have been in production for a year – they have been vetted by the Presidents BEE Advisory Council, other experts, the dti and the actual drafters of the document. Yet it still manages to define a Value-Adding supplier as “means an Entity registered as a vendor under the Value-Added Tax of 1991, whose Net Profit Before Tax summed with its Total Labour cost exceeds 25% of the value of its Total Revenue" We presume they are referring to the Value-Added Tax ACT! In law, a missing word can change or affect legislation.
Even more concerning than silly errors is an issue around procurement. The draft codes only recognize procurement and award points if the supplier is an aforesaid value-adding supplier.
Read more...
If you really want to understand the implications and "ins-and-outs" of the revised codes, EconoBEE and Keith Levenstein will provide it, in an easily understandable and entertaining format.
Revised B-BBEE Codes Briefing Session
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| Details |
Revised B-BBEE Codes Briefing Session, including breakfast
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| Cost |
R1140 incl VAT |
| Venue |
12th October 2012 - Johannesburg - Montecasino Conference Centre
15th October - Durban - Oyster Box Hotel
1st November - Cape Town - Belmont Conference Centre
Due to high demand we are scheduling additional sessions. Call for details. |
| Time |
7:30 for 8:00 to 11:00 |
| Booking |
Download our brochure and fax booking form to 011 483 1195
Email
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Contact 011 483 1190
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| More info |
Online details on www.econobee.co.za, email
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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
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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.
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Contact Us
Tel: 011 483 1190
Fax: 011 483 1195
Email:
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Web: www.econobee.co.za
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