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Missing transformation targets to be made an offence

More concerning is that whilst failure to achieve a certain level of B-BBEE compliance is not an offence, FSCA plans to make it an offence. ....

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SA: Mondli Gungubele: Address by Minister in the Presidency, during the Launch of the MAC Charter B-BBEE Council (25/03/2022)

Today, we are here to grow South Africa together – and particularly to grow our media, advertising and communications sector together. This is a sector that shapes and is shaped by our national identity, cultures and ambitions. ....

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Absa rolls out ambitious plans for a R9.4 billion B-BBEE deal

Absa rolls out ambitious plans for a R9.4 billion B-BBEE deal
iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.

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Investegate |Oryx Int. Growth Fnd Announcements | Oryx Int. Growth Fnd: Annual Financial Report

Investegate |Oryx Int. Growth Fnd Announcements | Oryx Int. Growth Fnd: Annual Financial Report
investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.

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What happens to your B-BBEE Compliance Targets if you make a financial loss?

What happens to your B-BBEE Compliance Targets if you make a financial loss?
Three elements on the B-BBEE Scorecard use Net Profit After Tax (NPAT) to calculate the Compliance Targets: Enterprise Development, Supplier Development and Socio-Economic Development.
By Jackie Kitching and Zahn Abreu
14 Feb 2021
09:53
Image: Shutterstock
Three elements on the B-BBEE Scorecard use Net Profit After Tax (NPAT) to calculate the Compliance Targets: Enterprise Development (ED) (1% of NPAT), Supplier Development (SD) (2% of NPAT) and Socio-Economic Development (SED) (1% of NPAT). These three elements constitute 20 points (excluding 2 bonus points) on the Generic Scorecard.
In the event that a Measured Entity does not make a profit during their financial period, or if the profit is less than a quarter of the industry norm, the Amended Codes of Good Practice (Codes), together with recommendations from SANAS, dictate the steps required in order for the Measure ....

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