The Department of Trade and Industry has noted concerns regarding Corporate Social Responsibility Investment (CSI) and the proposed amendments to the Broad-Based Black Economic Empowerment (B-BBEE) codes of good practice.
The draft codes have elicited widespread support but the department has received feedback expressing alarm that some charitable organisations and beneficiaries will lose benefits associated with the current version of the BEE Codes. This is not true. The proposed socio economic development (SED) code encourages charitable organisations who receive CSI funding as a result of BEE policy, to ensure that their beneficiaries are representative of South African Society.
the dti therefore wishes to reassure all parties concerned that the intention of the proposed Code is not to raise the bar or make it more difficult for current CSI beneficiaries to score BEE points.
It is however evident from the comments received that the current drafting of the SED Code has led to incorrect perceptions that it is the intention to raise the bar or to prejudice certain individuals. This is not the intention and will be explicitly clarified in the final draft.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Tel: 012 394 1650
Mobile: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
