The TFM Transformer’s Forum, which is led by B-BBEE industry stalwarts, will be hosting a once-off interactive Forum to unpack these proposed amendments and what they will mean to your business.

As you know, in the B-BBEE arena nothing is quite as it seems and the rules of engagement constantly change. So, in effect, organisations needs to be able to adapt and be on point, as and when amendments to the Codes are implemented, to keep your B-BBEE Strategy relevant.

The Generic Codes were gazetted on 11th October 2013 and came into effect on 1st May 2015. As the third anniversary of their effective date passed through the calendar, many organisations were still coming to grips with the expectations. The recently proposed amendments to the Generic Codes on 29th March 2018 and 15th June 2018 will take organisations back to the B-BBEE drawing board so they can adjust their B-BBEE Strategy to incorporate them.

It is vital that organisations be on point with regards to the expectations and impact these proposed amendments may have, specifically on Preferential Procurement, Skills Development and Ownership.

On 15th June 2018, the Minister of Trade and Industry issued Gazette 41709, in terms of section 9 of the B-BBEE Act of 2003, as amended. A 60-day public comment period from the date of publication is currently in process.

Notice 343 of 2018 – Draft Schedule 1 of 2018.  Clarification of interpretations and definitions.

Notice 344 of 2018 – Draft Code Series 400. General Principles of Measuring Enterprise & Supplier Development

Key amendments include:

  • The introduction of a Multiplier Factor 2 for at least 51% Black Owned or at least 51% Black Women Owned Entities under the Preferential Procurement
  • Scorecard The combination and reallocation of Points and Targets for Spend with EMEs and QSEs under the Preferential Procurement Scorecard;
  • The recognition of Enterprise Development or Supplier Development Initiatives irrespective of Turnover Growth for the Beneficiary; and
  • The Increasing of recognition for Guarantees from 3% to 50% under the Enterprise and Supplier Development Benefit Matrix.

Only two months previously, Gazette 41546 was published on 29th March 2018, which proposes amendments to the General Principles Statement and Skills Development Statement of the Generic Codes. The 60-day window period for public comment closed on 29th May 2018. A breakdown appears in TFM Magazine, Issue 14.

There is currently no clarity on whether these proposed amendments will apply to organisations measured on the Generic Codes only, or whether they will extend to all Sector Codes. The consensus, however, until clarity is given, is that once the proposed amendments are gazetted, each Sector Code would have to be amended to align with the new requirements.

The TFM Transformer’s Forum, which is led by B-BBEE industry stalwarts, will be hosting a once-off interactive Forum to unpack these proposed amendments and what they will mean to your business.

  • How will these proposed amendments align to your current B-BBEE Strategy?
  • What aspects will be most challenging?
  • How will they impact Joint Venture agreements?
  • How will these proposed amendments influence your Preferential Procurement Scorecard?
  • How will incorporating targets for bursaries impact the Skills Development Scorecard?
  • What will be the impact of Enhanced Recognition?

Join us at the TFM Transformer’s Forum.

Date: Thursday, 26th July 2018
Time: 09H00 until 14H00
Venue: Southern Sun OR Tambo International Airport, Jones Street, OR Tambo International Airport, Johannesburg. (Close to Rhodesfield Gautrain Station).
Cost: R1,975.00 per delegate, excluding VAT. This includes a three-issue subscription to TFM Magazine.
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TFM Magazine in a nutshell

TFM Magazine is the first specialist, industry-specific, business-to-business publication focusing on the Amended Codes and Sector Codes of Good Practice. Content aligns the expectations of all Codes with Legislative Acts, the Regulations thereof and peripheral compliance, to support the founding principles of B-BBEE.

Each issue provides insightful comment with in-depth and relevant analysis of developments relating to trends in B-BBEE compliance and legislation. It further unpacks the ever-changing and complex elements of B-BBEE in ‘layman’s terms’. Focus is placed on credible Socio-Economic Development, Enterprise and Supplier Development, as well as Skills Development initiatives based on their good governance principles and sustainability. Vital to each issue is providing the tools for organisations to integrate persons with disabilities into their workforce.

TFM Magazine is produced with the support of in-the-field thought leaders, committed to meaningful transformation. Their daily interaction in the B-BBEE arena provides our readers with credible interpretations of the technical requirements, as well as unique insight into navigating, communicating and implementing a B-BBEE Strategy in line with best practice.