How many points might your organisation lose under BBBEE draft codes?
The buzz in the procurement and supply chain industry for 2013 definitely has to be the revision of the codes of good practice published by Trade and Industry Minister Rob Davies on 27 Sep 2012. These codes ensure that the principle of black ownership reclaims its position on the Broad-Based BEE scorecard.
In 2007, the principle of Broad-Based BEE was implemented in Phase II of the Codes of Good practice with the introduction of five additional BEE elements. These ensured that the behaviour of companies included measured contributions to improving employment equity, skills development, preferential procurement, enterprise development and socio-economic development, as reported by Wade van Rooyen, Managing Director: Verification services of Grant Thornton Port Elizabeth.
With comments on the revised codes open to the public, many organisations could only express the concern they had over the affects that the codes would have on their Broad-Based BEE score cards and what they stand to lose should they not meet the requirements.
Law firm Webber Wentzel stated that the revised codes contained a controversial amendment, which could result in a reduction of companies’ empowerment ratings. Webber Wentzel partner and BEE expert Safiyya Patel commented that the most sweeping proposed amendment was likely to be the introduction of sub-minimum targets for the priority elements.
Smart Procurement World 2013 is the definitive forum for all Procurement and Supply Chain Professionals to come and discern what the change in the codes means for organisations as well as bring light to what else constitutes compliance to Enterprise Development and Preferential procurement.
The event, held in partnership with The Chartered Institute of Purchasing & Supply (CIPS), will take place from 10 – 12 September 2013 with the theme “Thinking Differently”. In keeping with our theme we will continue to bring you insightful presentations, each challenging you to find innovative ways to achieve your 2013 bottom-line goals.
For more information visit www.smartprocurementworld.com
See you in September 2013!
The Smart Procurement Team