BREAKING NEWS: Draft Code Series 400 - the Codes of Good Practice BBBEE
THE BEE CHAMBER / 21 JUNE 2018 - 06.06 / 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.