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Dieketseng Maleke | 1 June 2023 Impala Platinum (Implats) has finally achieved control of Royal Bafokeng Platinum (RBPlat) after a long drawn-out process and takeover battle after it acquired the Public Investment Corporation’s (PIC) 9.26% shareholding in the platinum group metals (PGM) company. This move would make Implats hold RBPlat shares comprising an aggregate of approximately 55.46% of the RBPlat shares in issue. “Implats will control the majority of the issued shares in RBPlat, and RBPlat will become a subsidiary of Implats,” the group said. Implats CEO Nico Muller said securing control of RBPlat solidified a stronger, more sustainable future for the Rustenburg region, the North West province, and the South PGM sector – collectively a major employer in the mining sector and a key driver of economic activity for the country. “It will contribute to job security for more than 42 000 Impala Rustenburg employees and contractors, and stability for the more than 495 000 people who depend on its mining activities and social contributions. With more years of continuous operation at scale, the intensity of benefits will continue for longer, delivering tangible socio-economic benefits for the region and its communities,” he said. Muller said together with commitments related to community development spend, small, medium and micro enterprises support, increased localisation, and supplier support, Implats would facilitate the introduction of broad-based black economic empowerment structures in the ownership of the Implats and RBPlat operations, increasing economic participation and ownership of key assets in the South African PGM sector. Implats has also extended the closing date of its offer to June 28. Part of the conditions for the takeover is a new empowerment structure for the merged companies, such as the creation of a community share ownership trust across both companies, as well as the option to replace the RBPlat employee share ownership plan. In addition, Implats has partnered with Siyanda Resources Proprietary, which will lead a broad-based empowerment consortium (Siyanda Consortium) as part of the proposed empowerment transaction. The PIC said the Implats offer would deliver financial value to its clients and would ensure long-term sustainability to PGM mining in the greater Rustenburg region. “It will also have a positive impact on regional employment as well as enable Implats to deliver on its social commitments,” it said. The drawn-out process for Implats to finally take over RBPlat took more than a year as Northam, a PGM producer, was involved in a takeover bid with Implats over RBPlat. Owing to the process taking long, RBPlat CEO Steve Phiri said in March that the uncertainty caused by the delay in finalising the corporate action had become a key risk to managing its people, their morale, and retention. Northam said the reason for the delay was that Implats had submitted various complaints to the Takeover Regulation Panel (TRP) regarding its announcement of the takeover bid. As a consequence of the Implats complaints, the TRP withheld its approval of the posting of the Northam Offer circular until the TRP had decided in respect of the Implats complaints. Eventually in April, Northam terminated its offer to buy RBPlat, citing low prices of PGM. As a result, Implats became the only company in the running to take over RBPlats. Anchor Capital investment analyst Seleho Tsatsi said Implats’ takeover of RBPlats had been expected following Northam Platinum’s decision to terminate its RBPlats offer. “That decision made Implats the most likely party to gain control of RBPlats. At the moment, the PGM sector is facing the challenge of weak PGM prices, particularly palladium, and rhodium, meaningful cost inflation, and volume pressures. “Clearly, Impala is looking through the current weakness and is likely thinking about longer-term prices. Impala has finally achieved control of RBPlats after what turned out to be a long drawn-out process,” he said. By 4.20pm RBPlats’s share were 0.74% higher at R136, while Implats shares were 2.17% higher at R158.33. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.iol.co.za/business-report/companies/implats-finally-wins-rbplats-hand-after-lengthy-battle-06783944-2b2a-401d-a8f2-812d57c53255

Staff Reporter| 1 June 2023 Credit, cash flow and loans are trigger words for the entrepreneur and SMME in South Africa when the waters get deep, and these become panic words for most. The rise of fin-tech and micro-financing makes the lending landscape look like an easy way out; independent lenders proclaim easy, quick-fix solutions that will help business owners sleep better at night - until they read the fine print. “And often, we don’t read the fine print,” says Sandra Beswick, a Senior Business Rescue Practitioner and a Director of Fluence Capital. Struggling SMMEs take out loans without a comprehensive understanding of the impact of the repayments on the business and how the interest rates may squeeze the profit margins in the long run, inevitably crippling the business and its ability to keep afloat. With statistical data released by the South African Reserve Bank stating that only 25% of total business loans are allocated to SMMEs, Beswick warns about ‘too good to be true offers’ with the alternate and proverbial ‘quick loan’ scheme. It is understandable that ‘quick loans’ appear as an attractive source of financing compared with traditional banks. Banks are risk averse by nature and are highly regulated with stringent criteria, such as a minimum of 12 months in operations. According to SMME South Africa, businesses are rejected for funding primarily based on a lack of financial readiness and limited collateral, which is why the shiver of independent lenders have swum their way closer to SMME shores. Every business owner knows the dreadful panic that ensues as the month draws to a close. Employee salaries are due, and suppliers need to be paid. “But panic also makes us blind and possibly a little naive too,” says Beswick. “Admittedly, any income opportunity looks like a life jacket in a crisis, but ‘crisis’ is a man-made thing,” says Beswick. “Our business is only in crisis when we’ve missed something along the way when we have not taken measures to plan correctly.” The low barriers of entry provided by the new financing structures, such as fin-tech and micro-financing options, are convenient, but at what cost? When it comes to cash flow and loans, every business needs to do the maths to maintain good ground. Whether it’s a banking institution or an independent lender, there are multiple factors to be considered when applying for a loan other than jumping at the shiny, low monthly repayment amount. Are independent lenders just a big scam? No. There may be some lenders out there that are not legally compliant, but not all lenders are “sharks”. Credentials and compliance are everything when dealing with a lender. Dealing with a fully legal, fully regulated lender is your first port of call. To start, every lender must comply with the regulations set out by the Financial Sector Conduct Authority (FSCA) and National Credit Act. Check them out! What’s a major red flag for any SMME loan? Watch out for “Personally Liable” by providing sureties or guarantees: a term that could have detrimental effects on you and your business. Should your business not be able to pay back the loan repayment, and you are forced into business rescue or liquidation, you, as the owner, will have to use your personal assets to offset the losses of the business. For smaller SMMEs, this could mean losing your family homes too. It is important to note that all lenders, banks included, have red flags in their structures (some more than most!). The bank rejected me, what options do I have for a business loan? Don’t panic. For “micro businesses”, you could extend your search to include government grants, personal loans and micro-financing options. These exist, but always with terms and conditions. Firstly, always read the terms. Secondly, always read the terms. Financial institutions offer borrowing against your debtor’s book. Is this a good idea? Financing your business this way may be beneficial, to begin with, but the benefits don’t last very long. Once the bank fronts you a percentage of the debtor's book and you are unable to pay, it costs you more on the interest rate that they’re charging - and interest will cut into your profits. Meaning: your business may become stagnant and unable to grow. Can I ask my lender for a better, more customised funding model? Of course, you can. And you should! For most reputable lenders, there are options to restructure your payments to avoid the impact of high interest rates. For instance, loan repayments can be restructured so that the interest portion is paid monthly, and you have a moratorium for a few months on paying the capital amount until your cash flow improves. This allows your business space to adjust and recuperate. Take charge of your loan structure - if you don’t ask, you won’t get it. How do the banks determine if I am eligible for funding? There are many factors associated with the financial viability of a business. Banks will go the whole nine yards to assess your risk profile. Larger corporations have greater credit histories and adequate security, making them a safer option for banks. For SMMEs, the whole business is taken into consideration; the market they operate in, the business life cycle and seasons – including cash flow and credit or risk profile. In a way, you can thank your bank for being this protective against risk - it warrants safer, transparent grounds for a better bank-business relationship going forward. Should SMMEs be wary of the “Quick Quote”? Definitely. The speed of the “Quick Quote” becomes a striking option, but it’s easy to over commit, trying to keep up with one loan by taking up another. This is dangerous water! Be wary of signing anything too soon. Funders outside of the traditional banking route are less likely to offer comprehensive documentation, so take time to do the calculations for yourself first. Prepare adequately for your lending contract and compare different lending structures to find the best fit for your business. What does interest have to do with anything? Everything! The real impact here, other than the structure of the financing model, is the interest rates applied to the principal amount of the business. How much will you actually be paying back in the long run? This is the question. Even if your monthly payments may seem smaller than that of traditional funding structures, do your calculations - you may end up paying much more than the loaned amount without ever stabilising your cash flow. What happens if I can’t make my monthly repayments on time? Three rules when it comes to this: 1. Communicate. 2. Communicate 3. Communicate. It is all about honest, upfront communication – with all of your creditors. The worst thing a business can do is wait too long, loan more money or hide from the fact. Banks hate surprises – fact! All lenders do. Have the conversation with your financial partner ahead of time to figure out a more viable option to support your repayment plan. Pro-tip: there are always options, trust me. I’m in so much debt - how did this happen? Firstly, there is no shame in debt. Debt is a fact of business life. There is good debt and there is bad debt, and both must be properly managed. Getting into bad debt is kind of like today’s assignment due at 8am – the one you left until the last minute; you didn’t plan properly, and now you’re scurrying to hand it in. There can be only one outcome here: you fail. Because, here’s the thing about debt: debt doesn’t manage itself. You are in charge. You are always in charge! And here’s the good news: ‘Debt’ is something you can control and survive - bottom line. A quick fridge magnet summary? Do your research. One loan at a time Timely Communication is everything. Keep a record of all sureties you agree to provide. Always compare structures – ask for what you need. Plan way ahead - calculate for the long run, not the short-term challenges. Planning is a constant. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.iol.co.za/personal-finance/entrepreneurs/the-biggest-cash-flow-mistake-of-the-south-african-smme-be590dfc-b1cd-4fc7-9dd8-1886755fb87e

Ivor Price | 1 June 2023 Agri SA says proposed regulations requiring up to 75% black South African shareholding in water licenses could devastate agriculture, risking the nation’s food supply. In a move that has sent shockwaves through South Africa’s agricultural sector, the department of water and sanitation has unveiled draft regulations that could have far-reaching implications for food security. The proposed regulations demand that certain enterprises seeking water use licenses allocate shares of up to 75% to black South Africans. However, experts warn that this singular focus on ownership demographics disregards crucial factors and could lead to disastrous consequences for the agricultural industry. Janse Rabie, legal and policy executive at Agri SA, a prominent agricultural association, cautions that these regulations, if adopted in their current form, would spell devastation for the commercial agricultural sector. Rabie highlights that the department envisions compulsory licensing of existing lawful water uses, which would disproportionately impact agricultural operations heavily reliant on historic water rights. “The proposed regulations seek to make BBBEE (broad-based black economic empowerment) the sole consideration for granting licenses, disregarding the other critical factors outlined in Section 27 of the National Water Act,” asserts Rabie. This approach neglects essential considerations such as the efficient and beneficial use of water, socio-economic impact, and investments already made by water users. Loss of water resources The agricultural sector, which accounts for approximately 60% of the country’s total water use, finds itself in the crosshairs of these regulations. By focusing solely on ownership demographics, rather than a comprehensive evaluation of all relevant factors, viable commercial farming enterprises could face the loss or partial loss of water resources, severely hampering their ability to provide the nation with a secure supply of food. Furthermore, the draft regulations extend their reach to “stream flow reduction activities” like commercial forestry plantations and even include provisions for hydraulic fracturing. These additional measures pose further risks to food security and add to the growing concerns raised by industry stakeholders. While Agri SA recognises the importance of an inclusive and representative agricultural sector, they contend that the current draft regulations would effectively force the transfer of ownership of water, the sector’s lifeblood and most crucial input factor. Rabie warns, “The consequences that the draft regulations in their current form will have with respect to agriculture and food production in South Africa will be fatal.” The proposed regulations arrive at a particularly precarious time for the agricultural sector and the wider economy. The industry is already grappling with challenges such as frequent power outages, rural crime, and deteriorating public infrastructure. This additional burden threatens to exacerbate existing hardships and undermine the sector’s ability to contribute to national food security. Stakeholders and concerned parties are urged to participate actively in the commentary period, which ends on 18 July 2023, to ensure that the final regulations account for the broader considerations essential to safeguarding the nation’s food security and the sustainability of the agricultural sector. Failure to address these concerns could have dire consequences for South Africa’s ability to feed its population and maintain a thriving agricultural industry. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.foodformzansi.co.za/water-regulations-threaten-food-security-agri-sa/

Business Live | 1 June 2023 With sector-specific analysis, the 2023 report gives an objective assessment of economic transformation in SA The third edition of the Sanlam Transformation Gauge is set to provide clarity on the performance of broad-based BEE in SA through a comprehensive economic transformation scorecard of the country. The report will be published by Sanlam, the largest non-banking financial services group in Africa, in partnership with the Sunday Times Business Times. Since legislated in 2003, BBBEE has faced severe headwinds. This has ranged from it being connected to corruption and state capture to a disillusioned, unempowered majority of South Africans who have watched the policy fall short of its expected outcome to achieve financial equality and inclusion. Andile Khumalo, co-founder of the Sanlam Transformation Gauge and CEO of KhumaloCo says, the negative national conversation surrounding economic transformation calls for an objective assessment of its performance and proposals for interventions and course corrections. This will be provided by the Sanlam Transformation Gauge 2023. With sector-specific analysis, the report will pose the burning question: “Is BEE policy keeping pace with major changes in industries?” It will assess the unseen solutions that could solve persistent policy uncertainty regarding procurement and other areas of BEE. “This next edition will continue in the same vein as the past two iterations, with tightly defined views of how sectors in SA are transforming and where they are being hindered. This has the power to enable key players to work together to action meaningful inclusivity, growth and transformation within their industries.” Khumalo says a key theme that emerged in the 2022 Sanlam Gauge Report was that an overhaul of the BBBEE framework was necessary to improve transformation. “We believe this is going to develop into an important issue in the short term.” The Sanlam Transformation Gauge 2023 pursues a current view across ownership, management control, skills development, enterprise supplier development (ESD) and socioeconomic development, to inform industry and country conversations. One consistent theme is that the reality on the ground is worse than the scorecards suggest. Adding to the robust insight of the intelligence report and to stimulate the debate over the future direction of transformation policies, the Sanlam Transformation Gauge 2023 will include results of a survey that canvasses the views of BBBEE verification agencies. These agencies, through their interactions with businesses across all sectors, are at the forefront of measuring BBBEE in companies and are acutely aware of the challenges affecting transformation. Like the second iteration, the panel of economic and social development experts will put forward actions for progress in the annual publication. For example, the 2022 edition highlighted the lack of a credible and effective national measurement process for BBBEE. The report indicated that ESD was the second-worst performer in the country and, in February 2023, the BBBEE Commission released an ESD research report with a focus on “how ESD funds can be effectively implemented for the purposes of promoting the development and growth of black-owned businesses”. There is no doubt in the minds of BBBEE experts that changing how we unlock ESD offers huge potential for inclusive economic growth. Ray-ann Sedres, chief transformation officer at Sanlam, says procuring from small black-owned businesses, providing support and developing new enterprises is solid in principle and, if effective, would generate a strong base of small businesses that would grow and employ more people. This would address SA’s triple challenge of poverty, inequality and unemployment. “We need to work with the BBBEE Commission and sector councils to overcome the barriers being encountered in measuring transformation. The Sanlam Transformation Gauge continues to facilitate debate on the pace of socioeconomic transformation of the SA economy, drive action that propels the country towards a more inclusive economy, and to safeguard the integrity of the original intent of the BBBEE legislation.” The Intellidex-led research relies on BBBEE scorecards from companies, grouped into sectors using the International Standard Industrial Classification codes. It reports across 11 sectors of the BBBEE classifications system: agriculture; construction; defence; finance; forestry; information communications technology; integrated transport; marketing, advertising & communications; property and tourism — the Sanlam Transformation Gauge reflects a national picture of transformation. The third Sanlam Transformation Gauge event will take place on July 18 2023, presented by Arena Events. This will be followed by the publication of the highly anticipated research findings in the Sunday Times Business Times. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.businesslive.co.za/companies/2023-06-01-native-sanlam-transformation-gauge-is-policy-keeping-pace-with-industry-change/

Siphelele Dludla | 31 May 2023 The rate of unemployment remains persistently high in South Africa at 32.7%, and rising above 60% when it comes to youth aged 18-35. The Jobs Fund has requested an additional allocation of R3 billion from the National Treasury's already constrained fiscus in a bid to keep the youth employed as the prevailing economic climate in South Africa has dealt private sector businesses a significant blow over recent years. This comes as the Jobs Fund on Monday said it was looking for experienced private and public sector organisations and NPO intermediaries to submit applications for its 11th funding round titled: Breaking Barriers: Future Proofing South Africa’s Employment Options. The Jobs Fund was started more than 10 years ago with a R9bn recapitalisation, and co-finances projects by public, private and non-governmental organisations that will significantly contribute to job creation. This involves the use of public money to catalyse innovation and investment on behalf of a range of economic stakeholders in activities that contribute directly to enhanced employment creation in South Africa. The rate of unemployment remains persistently high in South Africa at 32.7%, and rises above 60% when it comes to youth aged 18-35. Jobs Fund monitoring and evaluation manager Vuyo Tetyana yesterday told Parliament that a number of external factors had historically negatively impacted on the Fund’s ability to disburse and create jobs. Presenting before the Standing Committee for Finance, Tetyana said these included slow economic growth, which averaged 0.6% between 2016 and 2022, and resulted in reduced demand for SMME goods and services, thus shrinking markets. "This impacts on partners’ ability to request further grant disbursements, which in turn hinders the pace of job creation. Higher levels of economic growth of at least 5%-plus per annum are needed in order to make a meaningful dent on unemployment," Tetyana said. He said the drought was also a factor in the Fund's underperformance as the Jobs Fund has a big agriculture portfolio that was affected by the multi-year drought conditions that had prevailed since 2015. Tetyana said the drought conditions crashed agricultural outputs, including crop yields and meat production. "This has had a knock-on effect on farmers’ ability to maintain production levels, thus impacting on their revenue streams. “Slowing agricultural activity impacted on disbursements to the portfolio, as payments are linked to performance," he said. While rainfall had improved, climate scientists have cautioned that increased climate variability will expose South Africa to more frequent and prolonged droughts. Tetyana said the conditions that gave rise to the establishment of the Jobs Fund continued to prevail, and in fact had worsened in the past 10 years. He said the government, therefore, needed to continue to play a leading and enabling role in the market by partnering with initiatives that remain committed to effect meaningful change in the unemployment crisis in the country. "The Jobs Fund has requested an additional R3bn allocation for the roll-out of new funding rounds. The requested amount is in addition to the R9bn initially allocated to the Jobs Fund in 2011," he said. "Informed by the historic cost per funding round, as administered by the Jobs Fund, is inclusive of a 10% allocation which involves value-added services such as governance and technical support. This cost structure is still significantly more competitive compared to other global Challenge Funds, which have operational costs of 15% to 33%." According to the Fund, there are currently three significant job creation areas that it has identified, including the informal economy, digital economy and business process outsourcing. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.iol.co.za/business-report/economy/jobs-fund-calls-for-r3bn-from-treasurys-already-constrained-fiscus-in-a-bid-to-keep-youth-employed-f25e3084-88d0-469a-a4f4-be9d0a537012

Partner | 31 May 2023 TETA EmpowaYouth Week took place at Orange Farm last week and featured a panel discussion on the skills and opportunities young South Africans need to enter the finance and banking industries. The panel included Thomas Chimutunga – Head of the Business and Project Management Programme at CTU – who discussed how the job market in the financial sector is evolving. Chimutunga said he is concerned that many young South Africans are not being equipped with the cutting-edge skills necessary to thrive in the workplace. “One of the reasons we have unemployment in the country is that there is no synergy between what the industry wants and what young people are studying,” he said. Chimutunga noted the core skills that will always be relevant – such as decision-making, leadership, data analysis, software development, and engineering – are not being taught effectively by many educational institutions. CTU, however, is constantly assessing industry needs to ensure its students are given all the skills they require to succeed in the modern workplace. In addition to obtaining the right skills, the panel said that graduates must also be proactive and take all opportunities given to them. Chimutunga stated that a proactive attitude and constant effort are critical, as South African businesses will always prioritise diligent and reliable individuals who are willing to learn new things. He added that CTU prides itself on helping students build these soft skills across its 11 nationwide campuses, which all boast robust support structures for students. This ensures that CTU equips its graduates with the skills necessary to find jobs – including those in the in the banking and financial sectors – and provide immediate value to their employers. The panel also touched on the concerns many have about AI in the workplace. Many believe that AI poses a threat to their job security, but Ayn Brown, Chief People Officer at TymeBank, said that this is not the case. “AI won’t take your jobs. People that know how to utilise AI will be the ones that take your jobs,” said Brown. “It is therefore important that we all try to keep up with the latest technological advances.” CTU awards R50,000 bursary At the EmpowaYouth Week event, CTU also awarded one lucky attendee with a R50,000 bursary to study any course of their choosing at CTU. The deserving winner was Samukelisiwe Xulu, who was delighted to receive this incredible opportunity. “Welcome to the CTU family, Samukelisiwe!” said CTU Training Solutions. “We can’t wait to witness your journey and how you will utilize this incredible opportunity to shape your future.” CTU and EmpowaYouth Week CTU had a large presence at EmpowaYouth Week, which included Chimutunga’s appearance on the panel, the awarding of the R50,000 bursary, and its exhibition stand at the event. The organisation was excited to attend the EmpowaYouth Event, as it provides an excellent opportunity to reach passionate South Africans and show them the valuable courses CTU offers. As a South African private tertiary education provider that has been developing skilled professionals since 1987, CTU understands the importance of offering industry-relevant skills. It has witnessed the job market evolve at an incredible pace over the past 36 years, and knows that events like EmpowaYouth Week are key to young South Africans elevating themselves to meet these changes. “Together, let’s continue to bridge the skills gap, encourage youth development, and pave the way for an inclusive future,” said CTU Training Solutions. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://businesstech.co.za/news/industry-news/692581/collaboration-between-education-and-industry-critical-to-economic-growth-in-south-africa-ctu/

Bizcommunity | 31 May 2023 Tech-network giant, Vodacom played host to local SMME suppliers and business partners at the launch of the inaugural Vodacom Innovator Trust Supplier Development Conference, honouring top achieving South African small businesses within the Vodacom supply chain. The conference took place on Thursday, 18 May at VodaWorld, Midrand, in collaboration with the Innovator Trust who serve as the management and implementation partner for the Vodacom Innovator Trust Supplier Development (SD) programme. With the first intake of SMME beneficiaries back in 2018, several initiatives ranging from health and safety training, access to markets support, POPIA training, FTTX equipment and training, FTTH sales training, a Wi-Fi installations initiative and most recently, a logistics initiative. One of the flagship programmes available to SMMEs is the iThuba sales and marketing initiative which aims to uplift the SMME’s brand, providing them with necessary access to key marketing tools and encouraging the uptake of new digital technologies and platforms to allow them to thrive in an increasingly competitive and digital economy. To date, 147 SMMEs have been supported over a 2-year period through the SD programme. “On behalf of the Innovator Trust, it is an honour to be a part of this iconic event. The ICT small business industry is doing amazing things when it comes to innovation and technology, and Vodacom is one organisation who has walked the talk when it comes to SMME support and continues to pioneer the way forward to ensure that SMMEs develop into key contributors to the ICT sector and the South African economy at large,” commented Tashline Jooste, CEO of the Innovator Trust. In addition to highlighting the strides taken by the Vodacom in their commitment to SMMEs, the conference also offered a platform for stakeholders from both sides of the table to engage on the realities of supply chain management, where the opportunities lie and how, as a small business, one can capitalise on them. The conference featured several industry leaders who delivered insightful keynote addresses throughout the programme. The list included representatives from Vodacom, Takalani Netshitenzhe, chief officer and executive director of external affairs for Vodacom South Africa, Lynda Marthinus, Vodacom Group head of B-BBEE and transformation, Rashmika Singh, executive head of IT and enterprise for Vodacom Supply Chain Management, and Ricardo Platt, Vodacom Payments managing executive who shared an exciting presentation on the unique offers from Vodacom tailored for the SMME market. Chief executive officer for The Brave Group and author, Musa Kalenga, was a guest speaker at the event and captivated the audience in his keynote on how SMMEs can experience exponential growth in business through sales and marketing. Lazo Karapanagiotidis, IoT.nxt chief product and marketing officer and Takalani Mavhunga, chief financial officer of Nexio, both subsidiaries of Vodacom also featured as panelists on the programme discussing supply chain challenges, the effect of digital transformation on supply chain management and the importance of improving engagement with SMME suppliers. Chief executive officer for The Brave Group and author, Musa Kalenga, was a guest speaker at the event and captivated the audience in his keynote on how SMMEs can experience exponential growth in business through sales and marketing. Lazo Karapanagiotidis, IoT.nxt chief product and marketing officer and Takalani Mavhunga, chief financial officer of Nexio, both subsidiaries of Vodacom also featured as panelists on the programme discussing supply chain challenges, the effect of digital transformation on supply chain management and the importance of improving engagement with SMME suppliers. For SMMEs who have excelled in growing their businesses, showing an increase in revenue, size, and improvement in service delivery while on the SD programme, Vodacom showed acknowledgement with performance awards given to SMMEs across several categories. Each of the awards were also accompanied by cash prize grants towards the small businesses. “On behalf of the Innovator Trust and the Vodacom Supplier Development programme, it is my hope that the essence of our commitment to SMMEs and the ICT sector is accurately received and today’s event results in even greater engagement, change and impact that will lead the way in the interest of the development of SMME suppliers in our country,” remarked Jooste. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.bizcommunity.com/Article/196/841/238862.html

Thank you for attending the session we hope to see you again soon. for upcoming events follow this link https://www.bee.co.za/training

Thank you for attending the session we hope to see you again soon. for upcoming events follow this link https://www.bee.co.za/training

VAT is payable on all invoices, including those that support Socio-Economic Development initiatives. However, the VAT payment on an invoice must not form part of an organisation's Socio-Economic Development claim. The exclusion of VAT for SED claims reflects in point 5.1.7 of the 2008 Verification Manual published as Gazette # 31256. It states: “The Verification Agency should confirm that VAT is not included in amounts claimed where Socio-Economic Development Contributions may include VAT”. Socio-Economic Development Services are available to assist Members with insight Socio-Economic Development Contributions.

Paragraph 3.2.1 of statement 500 warrants that a Socio-Economic Development contribution must provide income-generating opportunities. Paragraph 3.2.3 mandates that 75% of the total contribution must benefit 'Black' People; otherwise, the claim will be pro-rated accordingly. For example: ABC Traders donates R100,000 to an NPO, of which 60% are ‘Black’ Beneficiaries. The Benefit Matrix allows 100% of a Grant Contribution. However, 100% of the Value of ABC Traders contribution only reaches 60% 'Black' Beneficiaries. The result is that ABC Traders can only claim R60,000 Socio-Economic Development Services are available to assist Members with insight Socio-Economic Development Contributions.

At the time of a B-BBEE Verification, many organisations fail to produce updated Sworn Affidavits from their suppliers that are EMEs and QSEs with Enhanced Recognition. During a B-BBEE Verification, a B-BBEE Rating Agency will generally consider: Any B-BBEE status that is valid within the Measurement Period or thereafter; Most recent valid B-BBEE Status; and A B-BBEE status that is valid for at least one day in the Measurement Period due to differing Financial Year Ends as well a customer and supplier not being measured at the same time. B-BBEE Credentials that have expired before the start of an organisation’s Financial Year End will not be accepted. Certificate Collection Services are available to clarify the validity of any B-BBEE Credentials on file.