Clients’ most frequent question is when the day will come when B-BBEE is something of the past. As per the quote by Albert Einstein: “If you want to know the future, look at the past.”
The South African government introduced the Broad-Based Black Economic Empowerment Act 53 of 2003 (BEE Act) in 2003. The Broad-Based Black Economic Empowerment Amendment Act 46 of 2013 was introduced in 2014 to insert specific definitions to amend others, clarify interpretation and to strengthen the evaluation and monitoring of compliance.
A bill is proposed to replace the current B-BBEE Amendment Act 46 of 2013. The Preferential Procurement Policy Framework Act (PPPFA) will prioritise a tenderer’s competency and remove the B-BBEE consideration from the Preferential Policy Framework.
By looking at the past, we can be certain that changes will be made to the Amended B-BBEE Act to amend it even further or the PPPFA may even replace it. It took ten years to amend the Act, so it may take ten years for the amendment Act to be replaced or amended. I cannot foresee a future where B-BBEE or the Act replacing it to be non-essential in the tendering process in the next ten years.
To find out how SEESA can help your business visit our website at:
#TeamSEESA