RSM South Africa

B-BBEE

Amendments to the B-BBEE Codes of Good Practice

18 June 2019
On 31 May 2019, the Department of Trade and Industry (DTI) published amendments to the Codes of Good Practice. The changes include:

Enterprise and Supplier Development for B-BBEE

22 May 2019
Requirements & identification of suitable beneficiaries

Determining the validity of a sworn affidavit for B-BBEE compliance

18 March 2019
On 3 September 2018, the Broad-Based Black Economic Empowerment Commission issued a Practice Guide, which clarified the Broad-Based Black Economic Empowerment (B-BBEE) requirements for Exempted Micro Enterprises (EMEs) and Qualifying Small Enterprises (QSEs).

Explaining the Y.E.S. Initiative

17 May 2018
On the 27th of March 2018, the President of the Republic of South Africa launched the Youth Employment Services (YES) Initiative, a business-led collaboration with government and labour, which aims to create more than one million paid internships for black youth.

The Threshold for Major B-BBEE Transactions

17 April 2018
From 9th June 2017, any Major B-BBEE Transaction is required to be registered with the B-BBEE Commission in the prescribed Form BBBEE 18, within 15 days of being concluded.

Empowering Supplier Status Revised

1 November 2016
One of the most significant changes in the Codes of Good Practice for Broad-Based Black Economic Empowerment (“the New Codes”) that came into effect on 1 May 2015 was the requirement to be an Empowering Supplier.

B-BBEE points for Broad-Based Ownership Schemes and Employee Ownership Schemes

25 September 2015
Following the release of the so called Notice of Clarification of 5 May 2015 and the anticipated and justifiable reaction to the impact of the Broad-Based Ownership Schemes (“BBOS”) and Employee Share Ownership Programs, (“ESOP”) The Department of Trade and Industry (“DTI”) has been forced to retract the Notice and reinstate the benefits associated to such schemes.