51% BLACK OWNED

The Preferential Procurement element measures the way a Measured Entity procures goods and services from Suppliers. One of the key point Indicators under the General Amended B-BBEE Codes of Good Practice is the spend on Suppliers that are at least 51% Black Owned based on the applicable B-BBEE Procurement Recognition Level. As per Schedule 1 of the General Amended B-BBEE Codes of Good Practice, 51% Black Owned is defined as:

An Entity in which:

(a)   Black people hold at least 51% of the exercisable voting rights as determined under Code series 100;

(b)   black people hold at least 51% of the economic interest as determined under Code series 100; and

(c)   has earned all the points for Net Value under statement 100;

Enterprise & Supplier Development Services are available to assist Members with analysing their Supply Chain from a B-BBEE perspective.