Learnerships can support workforce development while contributing towards your B-BBEE Skills Development score, and qualifying registered learnerships may earn section 12H tax allowances. Here’s what to consider.
Navigating B-BBEE compliance can be tricky, but understanding the Modified Flow-Through Principle can help you increase your ownership score. Let’s break it down into simpler terms. What is the Modified Flow-Through Principle? The Modified Flow-Through Principle allows a business entity which has more than 51% black ownership in a multi-tiered structure to be treated as having 100% black ownership—but only once in the entire structure. This can boost your B-BBEE score without making any...
Learnerships are a crucial part of South Africa’s development, as they help develop skills, knowledge, and competencies that are essential for creating a competitive workforce. Learnerships are important in South Africa, where the economy is transitioning, and the need for skilled workers is increasing. Learnerships increase the level of productivity in the economy because workers who have been trained are more likely to be even more productive than those who have not had the same level of...
Your business may be struggling to meet clients' demands for a specific BEE level. Adding to this stress is the worry that failing to score well on the priority elements could prevent you from achieving the required BEE level. This situation can quickly turn BEE compliance into a barrier to your business's growth. But it doesn't have to be that way. One key priority element, Enterprise and Supplier Development (ESD), carries substantial weight. When managed correctly, ESD can significantly...
The Skills Development element is a priority element on the BEE Generic Scorecard. This element permits measured entities to be scored on and awarded BEE points for doing accredited training, Bursaries, Learnerships, Internships, Apprenticeships and informal training for black people (African, Coloured and Indian). This element amounts to 20 points on the Generic Codes of Good practice scorecard, which is an indication of how important this element is to BEE. As Skills Development is a...
The objectives of the policy are to integrate all the elements of B-BBEE into the relevant authority’s activities in relation to its function of issuing licenses as envisaged in section 22C of the Medicines Act. Stakeholders are encouraged to comment on the draft policy by 31 August 2023 on the SAHPRA website. Draft-B-BBEE-Policy-on-Issuance-of-Licences-22-June-2023Download Submissions may be directed to SAHPRA through the 'Contact Us' page on their website. Please click here for the link:...
Entities often question the relevance of having a non-compliant BEE certificate when being non-compliant has zero BEE recognition. There are many reasons for opting to obtain a non-compliant BEE certificate. One of the primary reasons for obtaining a BEE certificate, even a non-compliant certificate, is to be registered on large enterprises' vendor databases. Without a valid BEE certificate, your entity cannot do business with these large enterprises, as your entity will not be visible to...
The goal of B-BBEE in the agri sector is to promote the participation and advancement of black farmers and agri-businesses while ensuring that they have the necessary skills, resources, and support to succeed. This includes initiatives such as land reform, which aims to transfer land ownership from white to black farmers, and support for small-scale and emerging farmers. The agri sector is a key contributor to the South African economy, and B-BBEE aims to ensure that the benefits of this...
Is your business missing out on B-BBEE points due to non-compliant suppliers? By procuring from empowering suppliers with favourable B-BBEE status levels, entities will receive recognition on the Enterprise and Supplier Development Scorecard. They can gain up to 27 additional points on their scorecards. The following are a few reasons why companies should properly vet their suppliers to ensure they are B-BBEE compliant: Preferential Procurement is classified as a priority element. Companies...
SEESA BEE Legal Experts Solita Pillay and Saigal Inderpal discuss the most common misunderstandings in the BEE industry and unravel some BEE truths. They also focus on what is accurate and true. Click on the play button below to listen to our podcast! SEESA BEE Legal Experts Solita Pillay and Saigal Inderpal discuss the most common misunderstandings in the BEE industry and unravel some BEE truths. They also focus on what is accurate and true. Contact your SEESA BEE Advisor to assist your...