CGF ARTICLES, OPINIONS & EDITORIALS
B-BBEE: ALL ORGANISATIONS ARE AFFECTED BY BLACK ECONOMIC EMPOWERMENT AND THE CODES (2015-10-27)
October 26,
2015 10087 10087 
Article by Terrance M. Booysen and reviewed by Dr. Robin Woolley (Director: Transcend Capital)
With the release of the new Broad-Based Black Economic Codes (‘B-BBEE’) -- which became effective on 01 May 2015 -- there is no doubt that the previous Codes of Good Practice (‘the Codes’), which were launched in 2013, did not have the desired effect.
Narrow-based black economic empowerment (‘BEE’) continued to prevail with only a small percentage of black people truly benefitting from the much needed transformation. Accordingly, the Government’s amendments to the Black Economic Empowerment Act 53 of 2003 (‘the Act’), as well as the new Codes (‘the revised Codes’), have sent a very strong message to all organisations in South Africa to enforce the implementation of B-BBBEE. With the amendments now in place, any organisation intending to do business with the Government or state owned entities will need to be compliant with the revised Codes. To the extent that an organisation actually manages to win tenders with the state; it will be largely determined by the manner in which the organisation has been scored in its new B-BBEE ratings.
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