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Broad-Based BEE Verification Agency

Amended B-BEE Codes update: Implementation date

Dear All

 Further to our update sent on 04/03/14, as we are fed titbits, we’ll keep you as up to date as possible. As previously noted, please remember that we are dealing with something of a moving target, and will try to ensure that the information provided is from as reliable sources as possible.

 Confirmation of the following has been made from our industry body, ABVA:

 Implementation Date:  if the verification exercise takes place after April 2015, irrespective of financial year end, the Amended BEE Codes will apply. (This is a fundamental issue, as it gives companies a target date to start preparing and aligning towards).

 Alignment of Sector Codes:  Sector codes are required to align to the amended codes by 11 October 2014, and thereafter allow entities another 6 months transitional period (April 2015) to align themselves to the changes in these sector codes and achieve the desired levels. (A meeting of all the Sector Councils will take place shortly, where this will be officially confirmed).

 QSE Scorecard:  the DTI has confirmed that they will officially releasing the QSE scorecard which will have simpler/easier targets in comparison to the Generic scorecard. However, they are not yet in a position to estimate the release date, but have confirmed that there will be a period allowing for preparation. (This can be taken to mean that the Dti will release the QSE scorecard as soon as they can, if the 30/04/15 date is to be met).

  1. Empowering Supplier status:  a QSE that has greater than 51% black ownership will confirm their status as an Empowering supplier by conducting a self-assessment as an empowering supplier and stating this on an affidavit. A template affidavit is to be issued by the DTI for the confirmation and self-assessment of an entity’s empowering supplier status.

 Please contact us should you require any further clarity or assistance.

 Regards

 Tony Kruger

BEE RATED Verification Agency