Generic selectors
Exact matches only
Search in title
Search in content
Search Posts
Search in pages
Search Products
Filter by Categories
B-BBEE
Blog
Company Secretarial
Featured
General Business
General Interest
Investing in Property
Marketing
Personal Growth
Personal Wealth
Tax
Trusts and Estate Planning

The old B-BBEE affidavit was just a few words and we fitted it neatly into the body of a certificate by myself as a Commissioner of Oaths. It looked pretty good, but now they’ve gone completely overboard, making life for the small businessperson far more complicated than it needs to be.  Here’s the original – And here’s the new one – So what have thay achieved? Now you have to state what percentage of your shareholding is held by – Black youth Black disabled Black unemployed Black people in rural areas Black military veterans…

Read More

Twenty four years down the track and you still have to know whether you’re black or not! And looking in the mirror won’t help. How utterly ridiculous.  Yup. That’s the price we pay for BEE. I figured I would give you the information that you need to determine whether you are black or not black as defined by the B-BBEE Codes. Firstly, you need to be black, Indian, Chinese, or coloured. I suppose you can figure that out thanks to the legacy of apartheid, which the current government still relies on. Next, you have to determine whether you were a…

Read More

There is false news circulating suggesting that white women will benefit from the BEE codes later this year. These articles, which you will find via Google, are written by people who want to write, but can’t even read! Either that, or they don’t know what to read. There’s an amendment to the Employment Equity Act which is currently in Bill form that includes white women as previously disadvantaged. Not to be confused with the B-BBEE Codes, which do not include, and will not include, white women. I also recently heard that the Codes will in future only include black people…

Read More

I pulled out of B-BBEE auditing over a year ago because I couldn’t work with the rubbish manner in which the new codes have been drafted. Well, now the Independent Regulatory Board for Auditors has also pulled out. In a sudden announcement on 4 August, the IRBA advised that they have withdrawn as the designated sole regulatory body for B-BBEE auditors and verification agents. Not surprising at all – it just took them more than a year longer than me, but then they would have had to jump through quite a lot of hoops to come to the final decision.

Read More

This is what I wrote a few days back, I’ve unpublished it because there’s even more! They now say that an Exempted Micro-Enterprise is not a Measured Entity and that therefore it was not allowed to adopt the new Codes ahead of 1 May 2015 and that therefore any certificates issued to an EME under the new Codes and prior to that date are invalid. Now this is what the Codes say 3.2 The basis for measuring the B-BBEE compliance of an Entity in terms of paragraph 3.1 is: 3.2.1 Paragraph 4, in the…

Read More

What is good and what is bad about B-BBEE I guess the good bit is that under the new codes, any enterprise that’s got a turnover of less than R10m is automatically Level 4 and any enterprise that is at least 51% black owned with a turnover of less than R50m is automatically Level 2. The same company is Level 1 if 100% black owned. So that takes care of about 95% of all South African enterprises (my estimate). Then why on earth do we need B-BBEE Codes at all? Just tell us what your black ownership is and we’ll give…

Read More

Lots of people have written about the new Codes and what is wrong with them. Here’s a short summary of stuff that you may find useful – 1) If you belong to a sector, you must use the sector codes and there aren’t any new ones so you’ll continue to use the old ones until directed otherwise. This is almost certainly to your advantage except for the turnover limits which are softer in the general Codes. 2) If you’re a QSE under the new codes (<R50m turnover) and are not majority black owned, then you should now be…

Read More

If your turnover is no more than R50m and If your company/CC is 51% black owned or more and does not fall under a sector charter, then you can immediately get a Level 2 certificate. If it is 100% black owned and does not fall under a sector charter, then you can immediately get a Level 1 certificate. Give us a call and we’ll talk you through it (and issue the certificate). If your company is less than 51% black owned and annual turnover is less than R10m, then you can immediately get a Level 4 certificate.  …

Read More