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How to avoid “B-BBEE Downgrades”
Broad-Based Black Economic Empowerment or B-BEEE is important and should be a topic of high priority to all companies in South Africa.
Questions often asked by our clients include:
The aim of B-BBEE is to ensure that the economy is transformed and structured to allow for the meaningful participation of the majority of its citizens and to further create capacity within the broader economic landscape at all levels.
But how is a companies’ B-BBEE status determined? Well for most medium to big companies (over R50 million turnover) it is determined by using “the B-BBEE scorecard” (factors include skills development, employment equity, socio economic development, preferential procurement, enterprise development). This scorecard measures a whole lot of different elements/ aspects. Ideally you need to excel in all aspects.
We can further assist by providing a computerized tracking system that proactively tracks your B-BBEE Scorecard from year to year.
Please consult the following link for more details on the course or consultation OR to reserve your spot in this workshop please contact 011 882 8853.
Under the preferential procurement or “buying measure”, spend from a Level 1 B-BBEE company e.g., BOTI, will be multiplied by 135% as opposed to the other extreme, where you will get 0% spend with a non-compliant B-BBEE entity. This will contribute to achieving a higher preferential procurement score, which in addition to other factors, will contribute to increasing your B-BBEE status.
BOTI also can assist in improving the enterprise development aspect of your scorecard.
BOTI offers a range of courses from Soft Skills to Technical/ Computer Skills. To view the courses offered by BOTI please consult the following link.
Thus, spending with a company with good B-BBEE ratings may aid in improving your BEE status and will positively contribute to economic transformation.
If you would like a copy for B-BBEE affidavit or would like us to register on your database, we will be more than happy to fill out your vendor forms.
We look forward to dealing with you and contributing towards improving your B-BBEE status.
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