A step in the right direction to oust fraudulent/fake B-BBEE Certificates The advent of the B-BBEE Certificate portal comes as a breath of fresh air to the public, business owners and governmental organisations to weed out fake and fraudulent B-BBEE Certificates. The flagship B-BBEE Certificate portal that was introduced by the Department of Trade and Industry sadly closed their online platform on the 30 April 2013. Much to the delight of Registered Approved Auditors and Accredited...

Op die 31ste Mei 2019 is die volgende wysigings tot die Kodes vir Goeie Praktyk deur die Departement van Handel en Nywerheid gepubliseer in Gazette 42496: Skedule 1 van die Gewysigde Kodes van Goeie Praktyk;Gewysigde Kode Reeks 000, Verklaring 000;Gewysigde Kode Reeks 300, Verklaring 300;Gewysigde Kode Reeks 400, Verklaring 400; Die volgende is net sommige van die veranderinge wat ‘n effek op u Breë Basis Swart Ekonomiese Bemagtiging (BSEB) gradering. Eerstens is dit belangrik om daarop te let...

On the 31st of May 2019 the following amendments were gazetted by the Department of Trade and Industry (DTI) in Gazette 42496: Schedule 1 of the Amended Codes of Good Practice;Amended Code Series 000, Statement 000;Amended Code Series 300, Statement 300;Amended Code Series 400, Statement 400 The following is just some of the changes that will have an effect on your Broad Base Black Economic Empowerment (B-BBEE) Rating. Firstly, the definition of Absorption has been amended. The new definition...

With the new amendments to Statement 300 (which deals with Skills Development), it is important to make sure that both Learnerships, as well as Bursaries, are registered in your financial year. Please see below the new amended Skills Scorecard: Category Skills Development Element Weighting Target 2.1.1 Skills Development Expenditure on any programme specified in the Learning Programme Matrix for black people as a percentage of the Leviable Amount 2.1.1.1 Skills Development Expenditure on...

On the 31st of May 2019 certain amendments were made to the Amended Codes of Good Practice. For the first time since the inception of the B-BBEE Codes of Good Practice, clarity was provided on how to verify unincorporated joint ventures (JV). This is a welcome inclusion in the Codes. In terms of paragraph 7 of Code Series 000, Statement 000 unincorporated JV’s are required to compile a consolidated verification certificate. In order for a verification agency to issue a consolidated...

What is the Y.E.S initiative? The Y.E.S (Youth Employment Scheme) was gazetted on the 28th of August 2018, with its main purpose being job creation for individuals who qualify as a youth. Y.E.S has been described as a business-driven initiative which partner business with government and labour in a concerted effort to collectively tackle economic pathways for black youth. To whom does Y.E.S apply Y.E.S focuses on youth between the ages 18 and 35, by providing work experience for one year,...