BROAD BASED BLACK ECONOMIC EMPOWERMENT VERIFICATION
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Your company will be rated on the following components as per the Broad Based Economic Empowerment Strategy of March 2003, the act approved by parliament in December 2006 and the codes of Good Practice on Broad Based Economic Empowerment:
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Direct Empowerment |
• Ownership |
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% flow of economic interest and exercisable voting rights
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Management and control - % Black person in executive management and/or executive board and board committees
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• Human Resources Development |
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Employment Equity - Weighted employment equity analysis |
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Skills Development - Expenditure as a proportion of total amount paid as SDL
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Indirect Empowerment
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• Preferential Procurement |
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Weighted Preferential procurement Spend
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• Enterprise Development |
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Cumulative recoverable and non-recoverable contributions to Enterprise Development over previous 5 years
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• Social-Economic Development |
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Cumulative non-recoverable contributions to qualifying Corporate Social Investment and Industry Specific Initiatives over previous 5 years
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BROAD BASED VERIFICATION CLASSIFICATION
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A Level 1 contributor to BEE - a score equal to and above
100 points |
A Level 2 contributor to BEE - a score between 85 and 99 points
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A Level 3 contributor to BEE - a score between 75 and 84 points
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A Level 4 contributor to BEE - a score between 65 and 74 points
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A Level 5 contributor to BEE - a score between 55 and 64 points
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A Level 6 contributor to BEE - a score between 45 and 54 points
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A Level 7 contributor to BEE - a score between 40 and 44 points
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A Level 8 contributor to BEE - a score between 30 and 39 points
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A Non-compliant contributor to BEE - a score below 0 and 29 points
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Your company will receive a verification certificate as well as a detailed report on each of the components and sub components. The verification will be added to BEE Rating Solutions's database as well as the the DTI's website when it's active.
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