B-BBEE AMENDED CODES EXPLAINED

AT THE BENCH MARK OF EMPOWERMENT B-BBEE AMENDED CODES EXPLAINED *BEE (Black Economic Empowerment) or Broad-Based Black Economic Empowerment (BBBEE) as it is technically known is an initiative by the South African government to address historical imbalances of the country by facilitating the participation of black people in the mainstream economy. Black people refer to African, Coloured and Indian who are South African citizens by birth or by descent, or who were naturalised prior to the commencement of the interim constitution in 1993, or who those would have been able to acquire citizenship by naturalization prior to 27 April 1994 had it not been for the presence of the Apartheid policy. BBBEE is governed by the Broad Based Black Economic Empowerment (BBBEE) Act No. 53 of 2003 and the BBBEE CODES of Good Practice gazetted in February 2007 and the AMENDED CODES of 2013.

Enterprise Supplier Development – Merged Preferential Procurement and Enterprise ... Large Enterprise More than R50m REVISED CODES : Thresholds . Element Amended Codes of Good Codes of Good Practice 2007 Practice 2013 Weighting points TargetWeighting points Ownership 20 25% + 1 Vote 25 25% + 1 Vote Management & Control 10 50% 19 50%

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  Procurement, Revised, Preferential, Preferential procurement

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