B-BBEE Planning and a Look at the Transport Sector Codes
With the first month of 2023 officially behind us, for companies with their financial year-end in December, it may seem that there is still a lot of time to plan and conduct B-BBEE activities, however, we all know just how quickly “time flies”, so before it becomes a mad dash, we encourage you to begin your planning and activities now!
Not sure where to begin? Contact us now on 011 483 1190 to show you how our revolutionary managed service has helped thousands of clients implement sustainable B-BBEE activities in a way that makes perfect business sense!
Quick Look at the Transport Sector Codes
The Transport Sector Codes was first published in 2009 and is now one of the fastest growing industries in the country with sub-sectors like the Bus Commuter and Coach Services, Road Freight, Maritime, Rail, Domestic Aviation and Forwarding & Clearing.
With over 14 years of existence, it is still the only sector that was never repealed, and entities classified within this sector are still measured on the 2007 Codes of Good Practise and so have not had to endure the more stringent amendments to the various codes; such as the priority elements and the discounting principle.
Although it may seem as if transport entities are having it easy, that is not always the case. Unlike the codes of good practise, there are no automatic levels/Affidavits for companies with no black ownership which compels compliance. Choosing 4 elements out of the 7 may seem like an easy task to do, but it requires experienced B-BBEE specialists to help come up with cost-effective methods to ensure transformation suits your organisations needs.
Contact us on 011 483 1190 or email us firstname.lastname@example.org to help you come up with innovative transformation strategies that make business sense.