Tag ArchivesBBBEE compliance

Understanding “Skills Development” for BBBEE purposes

Understanding Skills Development is no longer only a nice-to-have, it is a necessity for all companies.  Skills Development has always been regarded as an important pillar for economic success and stability, however, with practical issues, like a lack of access to funding, facing South Africa, other avenues had to be explored to upskill and bridge […]

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preferential procurement

New Preferential Procurement Regulations to take into consideration

Imminent changes are looming and will become effective on 1 April 2017. These will affect organisations doing or wishing to do business with organs of state. This as a result of the new Preferential Procurement Regulations issued on 20 January 2017, in terms of the Preferential Procurement Policy Framework Act No 5 of 2000 as […]

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B-BBEE

Severe consequences of B-BBEE fronting

On the 7th of September 2016, while answering oral questions in the National Council of Provinces, Deputy President Ramaphosa also discussed the severe consequences of B-BBEE fronting by individuals and companies.   For the first time since the B-BEE legislation’s first enactment, fronting has been defined. In essence “fronting” means any practices or initiatives in […]

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license bbbee

How your BBBEE rating may affect you when applying for licenses in future

Another proposed amendment to the regulations in terms of the Broad Based Black Economic Empowerment Act 53 of 2003 as amended (the “Codes of Good Practice” or “Codes”) was gazetted on 17 February 2016 (Gazette number 39704) for public comment. Notably, Part 7 entails the impact these proposed amendments will have on the applications of […]

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New BBBEE Codes of Good Practice – Time to get a move on!

The BBBEE Amended Codes of Good Practice came into law on 1 May 2015 (already) and it has made fundamental changes to our current BBBEE regulations.  All businesses should speedily assess the impact of these changes on their BBBEE rating/status and generally on their business going forward. Not only has the amount of BBBEE points […]

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