7 December 2006
The Department of Trade and Industry (the dti) has announced that Cabinet
has approved phase two of the codes of good practice on broad-based black
economic empowerment (BBBEE). It deals with the scorecard and its elements
employment equity, skills development, preferential procurement, enterprise
development, socio-economic development, qualifying small enterprises as well
as the treatment of multinationals.
This will enable the Minister of Trade and Industry to gazette phase one and
two of the codes of good practice early next year as well as gazette sector
transformation charters for black economic empowerment (BEE).
Sectors will determine their own thresholds for exempted and qualifying
enterprises, but the codes set a generic range of R5 million to R35 million for
qualifying small enterprises. The full details of the contents of the codes
will be released publicly next week and the final gazetted document of the
codes will be made available early in 2007.
Cabinet endorsed phase one of the codes in October 2005. These dealt with
the conceptual framework, the verification agencies, sector transformation
charters, ownership, the recognition of the sale of assets and management.
Issued by: Department of Trade and Industry
7 December 2006
