The entities that form part of the Construction Sector Codes must spend a percentage of their Net Profit After Tax on Socio-economic Development initiatives in their applicable financial period. Regarding a QSE Company (revenue between R10 – R50 million for contractors and R6 – R25 million for BEP’s), the target is 1% of Net Profit After Tax. A further requirement is that 50% of the calculated target must be spent on Communities with Limited Services. A Generic Company (revenue above R50...

The ICT (Information Communication and Technology) Sector is one of the fast-growing sectors in the B-BBEE landscape.  Entities that fall within the ICT scope of application are pressured to participate in the B-BBEE Process. In terms of the Sector Code, an ICT entity will be an entity that operates within the following definition: The Information and Communications Technologies (ICT) Sector” shall without, in any way, limiting the ordinary meaning of the terms, mean the sector in which...

An enterprise is rated on a scorecard depending on the industry in which it operates. A measured entity that falls within a particular sector code must be measured or verified based on the sector code and no longer on the basis of the BEE Codes of Good Practice. Below are the different sector codes as of August 2022, and more may be added to the list as time progresses: AgriBEE Sector CodesThe codes aim to facilitate black economic empowerment in the agricultural sector by implementing...

The Mentorship programme applies to the Construction sector code. Each Measured Entity must have one person in the business responsible and accountable for mentoring, called the mentor champion. The criteria for the programme must include the objectives and desired outcome of the programme, the structure of the programme, methods of how the protégés and mentors will be selected and matched and the time frames for implementing the programme. There must be a general portfolio of evidence...

The Amended Construction Sector applies to all entities that fall within the Construction Sector. It is important to note that there are two sub-sectors within the Construction Sector, namely, BEP (Built Environment Professional) andConstruction Contractor, which also includes Construction Suppliers. The significant difference between both sub-sectors is that BEPs conduct the planning, designing and costing of construction projects, whereas the Construction Contractor sub- sector conducts the...

This article gives a general overview of the skills development element for the Amended Financial Sector Codes. The Amended Financial Sector Codes guides the skills development element, read together with the Amended Codes of Good Practice. The Codes of Good Practice apply only to the extent that the Amended Financial Sector Code is silent. Before an entity can claim any points on skills development, it is important to note that they must comply with the following pre-requisites: The...