As you can see our name has changed and it is a significant change! And the change is all about you and ensuring that we keep our fingers more on the pulse of the economy and to ensure that, we among other things, partner more with the economy and industry for your sake, as our primary customer and focus!
September 9th, How to score points? Points are awarded for this element when a company can demonstrate that it has initiated and implemented a contribution to a group of black beneficiaries with the objective of facilitating sustainable access to the economy for those beneficiaries.
Socio-economic development is weighted as contributing 5 points under the Generic Scorecard and 25 points under the QSE Scorecard. How points are lost? For more information on all the elements, please refer to our BEE Guide.
Duringthe DTI released an interpretive guide which promoted the measurement of ED and SED contributions either as being measured accumulatively or only in the period of measurement.
This guide was subsequently withdrawn but the practice of not using cumulative targets continues, albeit incorrectly. There is a movement in the industry to eradicate this practice. Is Level 4 Good enough? It must be applied in the adjudication of all tenders from 7 Dec A number of companies may say that this does not affect them as they do not supply goods or services to public entities, but cognisance must be taken of the large market opportunities that will be coming through the public sector domain against the backdrop of the uncertain international economic trends and the cut in spending by private companies.
Essentially spending will be driven by the public sector and the State Owned Enterprises in the foreseeable future.
Also, even if your company does not supply directly to public entities, your customers may and thus it is inevitable that your customer would place pressure on your company to comply in order for them to improve their B-BBEE scores through the Preferential Procurement element of the scorecard. The number of preference points allocated on the basis of B-BBEE varies depending on the size of the tender.
Essentially, there is generally a two-tier adjudication process where initially the tenders submitted will be adjudicated against objective functionality criteria, if required. Given the table, it is self-evident that companies should be aiming for a B-BBEE level 3, as the points differential between a 4 and a 3 is weighted heavily towards a Level 3.
This is a potential profit benefit of R It is clear that this is a small price to pay for investing in your B-BBEE scorecard to potentially achieve a much higher profit. Conversely, Company A would need to reduce its profitability by approximately R32 million to effectively compete against Company B.
August 19th, The dti, in conjunction with Wits and Unisa, is putting the finishing touches on a training program, which will be compulsory for all BEE verification analysts.
This initiative comes in response to the growing, desperate call for clarity and consistency in the verification market place. The proposal was unveiled to players in the verification industry at a conference in Johannesburg, on 4th July, where it was met with optimistic caution by the attendees.
A key concern was that the material was perceived to have been compiled by academics, without taking into cognisance the practical situations encountered in verification.
At the conference, it was revealed that the course would be rolled out in two phases, giving already experienced and accredited verification agencies, a fast track program in which to have their analysts trained and certified.
Pitched at an NQF level 7, the cost of the training is not unsubstantial, intended to range from R — R per analyst, depending on the options selected. This is a massive cost for agencies to bear and will create a substantial barrier to new entries in the market place.
Although there are some questions about the content, rollout and level of the training to be provided, there is no question that standardization is urgently needed in within this sometimes controversial industry.How to structure a killer cover letter. Finding opportunities is hard, applying for them even harder!
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