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Broad-Based Black Economic Empowerment Keith Levenstein

Broad-Based Black Economic Empowerment Keith Levenstein. Presented by EconoBEE November 2009. creating opportunities for the whole population skills development (including management) job creation development of entrepreneurship. The essence of B-BBEE is. BEE the Long Journey.

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Broad-Based Black Economic Empowerment Keith Levenstein

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  1. Broad-Based Black Economic EmpowermentKeith Levenstein Presented by EconoBEE November 2009

  2. creating opportunities for the whole population skills development (including management) job creation development of entrepreneurship The essence of B-BBEE is

  3. BEE the Long Journey Equitable Economic Opportunities Emerging black middle class & investors Ownership & Management The Opportunity Barrier Black Entrepreneurs Affirmative Procurement & Enterprise Development The Business Barrier Black Entrepreneurs Skills Development & Employment Equity The Skills Barrier Black workers and job-seekers Employment Equity/Job Creation Socio-Economic Development The Poverty Barrier Black unemployed & rural poor

  4. Mandated by the BBBEE Act Act calls for industry charters as well. Some have been finalized, e.g. Construction, but not the FSC Gazetted on 9th February 2007 Gazette no.29617 Provides a comprehensive scorecard to measure and implement B-BBEE Three types of entities in South Africa Exempt Micro Enterprises (EME) (Turnover < R5million) Qualifying Small Enterprises (QSE) (Turnover R5million – R35 million) Generic scorecard entities (Turnover > R35 million) Codes of Good Practice

  5. The Financial Sector Charter pre-dated the codes and currently does not conform to the requirements of the B-BBEE act or the codes. The FSC CANNOT be used to produce a scorecard for your customer (it will not help him earn his own BEE points) The FSC in its current form seems to be quite far from being complete – until that happens you need to follow the codes. The FSC

  6. B-BBEE Scorecard – Generic and QSE NB QSE chooses only 4 elements

  7. Your customers are asking for it It is regarded as good service to give customers what they want! The FSB needs it (section 10 of the B-BBEE act) Government tenders will soon be based on the B-BBEE scorecard. Why do customers want your scorecard? Your good score will increase your customers’ own BEE scorecard: Procurement is worth 20/25 points on the scorecard This is why some customers may be prepared to move to a supplier with a better score Why have a Scorecard?

  8. Preferential Procurement - the Competitive Edge

  9. BBBEE score • Measured as a contributor

  10. The sole measurement of B-BBEE is about points. You need to produce a B-BBEE Scorecard because your customers want it and various licensing authorities need it. Business sense and BEE sense – Make decisions that benefit your company The higher your score, the better it will be for your customer! B-BBEE – the competitive Edge

  11. Always produce your own rating before approaching a verification agency. The use of verification agencies As from 1st February 2010 only certificates verified by accredited agencies or those with pre-assessment letters will be valid. Until then non-accredited agencies can be used. Prepare for a rating by getting BEE knowledge and using EconoBEE Scorecard A verification agency verifies your data – can produces a certificate from your data. Without data, your score will be zero! Explain your rating in terms of the B-BBEE Codes of Good Practice Advertise your rating to customers Rating your company

  12. Thank you Keith Levenstein EconoBEE 0861 11 30 94 info@econobee.co.za www.econobee.co.za

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