Broad Based Black Economic EmpowermentDedicated to assisting our clients with all aspects of B-BBEE
Independently and through partnerships we are dedicated to assisting our clients with all aspects of B-BBEE.
Why talk to us
Our differentiator: I am an investment banker and dealmaker and my partner is a published recognised BEE expert. We focus on practicality and getting deals and compliance done.
Our services include B-BBEE structuring and compliance, Economic Development and Skills Development Advice:
Summary of services
- We provide specialist BEE and strategic advisory services to organizations, operating in South Africa, that are required to comply with BEE and related legislation;
- We provide advisory and implementation services on Enterprise and Economic Development;
- We provide Skills Development advisory and implementation services to companies on the implementation of SETA accredited Learnerships, Internships and Apprenticeships;
- We source, structure and implement BEE deals.
WHAT WE DO
1. Broad-Based Black Empowerment Advisory, Verification Preparation, and Verification
We assist you with all aspects of BEE compliance across all elements and including all Sector Codes.
Our advisory services include, but are not limited to:
- Self-assessment – know what you are scoring today.
- Supplier assessment – know which suppliers are causing you to lose points, and identify the suppliers that can maximise your score.
- Competitor analysis – know how your competitors fare in comparison to you, so you are to maximise your selling advantage.
- BEE Outcome and Recommendation Report – know where your gaps are and implement sustainable initiatives to close those gaps.
2. Compliance with the Economic Development Criteria for Independent Power Producers (IPP)
Companies relying on a licence from the Department of Energy and NERSA are required to comply with Economic Development criteria under the IPP Programme. We assist companies comply with all elements of the Economic Development criteria, from bid submission to monthly, quarterly and annual reporting. We are also able to provide monthly or quarterly implementation and management of the approved plans, and report on progress made to requisite stakeholders.
3. Development and implementation of Equity Equivalent Programmes for Multinationals
Multinationals operating in South Africa that is not able to sell equity in their local operation are required to develop and implement an Equity Equivalent Programme in lieu of selling equity.
We are able to development, register, implement and manage your Equity Equivalent programme in line with the requirements as laid out by the Dti in the Codes of Good Practice.
4. Skills Development Facilitation
All companies with a leviable payroll exceeding R 500 000.00 per annum are required to comply with the Skills Development Act No. 97 of 1998 (as amended). This requires that these organisations pay a Skills Development Levy, as well as submit training reports to the relevant Sector Education and Training Authorities (SETAs). Companies that submit the reports to their SETAs are able to access training grants as well as score points for BEE.
Under the revised BEE Codes of Good Practice these reports will be mandatory, should companies wish to score points for the Priority Skills Development element. Failure to comply will result in a company dropping a level on their BEE scorecard.
We are able to act as your independent skills development facilitator by submitting these reports on your behalf, registering and implementing learnerships (18.1 and 18.2 learnerships), chair your skills development committee meeting, providing guidance in respect of available funding opportunities and changes in legislation as and when they arise.
5. Employment Equity reporting and compliance
Designated employers are required to comply with the Employment Equity Act, No.55 of 1998, as amended. This means that they need to develop employment equity plans and submit employment equity reports annually to the Department of Labour. The new Companies Act requires that companies employing 50 or more employees develop employment equity committees to manage and implement compliance with the plan.
We are able to act as independent EE consultants whereby we develop your plan, in consultation with all stakeholders, and submit the requisite reports to the Department of Labour.
We are also able to steer the committee meetings to ensure compliance with the plan, and advise the committee members on changes to legislation and ensure that the companies are compliant with all changes to prevent the Department from levying heavy financial penalties on the organisation.
6. Ownership Solutions
Equity Ownership makes up almost 25% of an organisations B-BBEE scorecard and is now also deemed to be a Priority Element. This means that ignoring Equity Ownership will result in a measured entity being discounted by one overall B-BBEE status level.
Coupled with the discounting principle are the more onerous requirements of the other 4 elements which will result in many businesses finding it extremely difficult (if not impossible) to achieve even the entry Level 8 status without some level of black equity ownership. For many businesses, ignoring Equity Ownership will equate to B-BBEE non-compliance and resultant negative impact on the company’s growth.
We are able to act as a black-owned private equity and transformation management partner to empowerment sensitive businesses of all sizes and industries. Our unique business model is based on the principles laid out in the Broad-Based Black Economic Empowerment (B-BBEE) Codes of Good Practice. Our model allows the investee businesses to achieve the maximum benefit on the Ownership element of the scorecard, and in doing so it will not only retain current market share but also expand into new markets. As independent directors we will work with our investee businesses to develop and implement sustainable strategies across all the other elements of the scorecard to meet jointly agreed empowerment targets.