THE DEFINITION OF “BLACK NEW ENTRANTS”
- Newsletter Editor
- Jan 22
- 1 min read
The concept of “Black New Entrants” is found under the Ownership scorecard whereby the Amended General B-BBEE Codes of Good Practice allows for Two Points to be scored based on a 2% Compliance Target.
The definition contained under Schedule 1 of the Amended General B-BBEE Codes of Good Practice defines “Black New Entrants” as “Black participants who hold rights of ownership in a Measured Entity and who, before holding the Equity Instrument in the Measured Entity, have not held equity instruments in any Entity which has a total value of more than R50,000,000.00 measured using a standard valuation method.”
Technical Services are on hand to assist with the understanding of the above and how it is recognised.