BREAKING NEWS: Draft Code Series 400 - the Codes of Good Practice BBBEE

THE BEE CHAMBER / 20 JUNE 2018 - 11.02 / STAFF REPORTER

The dti published the amended Draft Code Series 400 of 2018 issued for public commentary in terms of Section 9 (5) of the Broad Based Black Economic Empowerment Amendment Act 2003

The Series has been issued out for 60 day public commentary.

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Key amendments to Code Series 400 Measurement of the Enterprise and Supply Development element of Broad Based Black Economic Empowerment:

• The introduction of a Multiplier Factor 2 for at least 51% Black Owned or at least 51% Black Women Owned Entities under the Preferential Procurement Scorecard

• The combination and reallocation of Points and Targets for Spend with EMEs and QSEs under the Preferential Procurement Scorecard

• The Recognition of Enterprise Development or Supplier Development Initiatives irrespective of Turnover Growth for the Beneficiary

• The Increasing of recognition for Guarantees from 3% to 50% under the Enterprise and Supplier Development Benefit Matrix

The BEE Chamber will be publishing an information video with a detailed review on the Draft changes shortly.

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