Recent BEE Developments

RECENT BEE DEVELOPMENTS




THE IMPACT OF THE REVISED CODES OF GOOD PRACTICE ON YOUR BUSINESS

The Revised Codes of Good Practice were gazetted by Department of Trade and Industry (DTI) on 11 October 2013, the revised codes are currently in effect however there is a transitional period of a year from the date of gazetting. Measured entities may elect to use the amended codes or the old codes.

Similar to the previous codes, the Revised Codes of Good Practice are targeted at promoting the substance of black economic empowerment in the economy, rather than empowerment on a checklist and certificate.

We have noted grey areas and inconsistencies within the new codes which have caused a bit of confusion in the industry and thus interpretations may differ. The revised codes bring with them critical changes that will have a significant impact on the current scorecard ratings, levels and your business. Read more

BEE CERTIFICATE FRAUD ON THE RISE

Over the recent months BEE Fraud has gone significantly higher with consumers made to pay high prices for certificates that are not even authentic. Our investigations have led us to various individuals at different locations within the country, the most rampant source being the DTI campus in Pretoria where these fraudsters sit at internet cafe's nearby issuing faked certificates to clients visiting the campus.

Some consumers pay knowingly because they are misinformed about how much a valid certificate costs, when the fraudsters actually charge more than valid accreditation agencies and auditors. Others are made to pay without knowing that the certificate is actually fake. Read more