• Search for:

    Category Archives: Black Economic Empowerment (B-BBEE)

    1. Home  - 
    2. Archive by category "Black Economic Empowerment (B-BBEE)"
      3. ( Page3 )
    18Aug, 2020
    What Economic Transformation actually happened in South Africa in 2019?
    The B-BBEE Commission recently released the annual B-BBEE trends report for the 2019 calendar year. The purpose of the report is to assist the B-BBEE Commission to determine how organs of state, public and private entities in South Africa are performing against the generic and sector Codes of Good Practice. The report assesses ownership, management control, skills development, enterprise and supplier development and socio-economic development. The report is based on compliance reports received from 150 companies listed on the JSE, 43 organs of state and 5,818 other entities whose B-BBEE certificates were uploaded onto the B-BBEE Commission’s portal.
    • Black ownership has increased from 25% in 2018 to 29% in 2019. In 2018, 100% black-owned JSE listed entities was 1.2% but in 2019 this has now increased to 3.3%.
    • The % of black South Africans holding Directorships has decreased from 45% in 2018 to 39% in 2019.
    • The % of black South Africans holding Directorships in the JSE has increased from 38.3% in 2018 to 43.6% in 2019.
    • The B-BBEE Commission has mentioned invoking the relevant penalties of the JSE Listing Requirements if these are not met.
    • The B-BBEE Commission has noted that, although black ownership has increased in the 2017 – 2019 period, management control has not increased accordingly which indicates that black people are not involved in the control and core operations of businesses.
    • The three least performing sectors on ownership in 2018 were AgriBEE (11.19%), MAC (19.55%) and financial (21.64%), with construction (48.03%), transport (40.53%) and forestry (33.66%) showing relatively good progress.
    • Contributions towards skills development, enterprise and supplier development have decreased in 2019.
    • Black people continue benefiting from bursaries, partnerships and incubation opportunities under these elements, however, absorption into a job or sustainable supply chain remains a challenge.
    • The report shows that 49.3% (50.9% – 2018) of JSE listed entities are at level 4 and higher, while 50.7% (44.5% – 2018) entities are between level 5 and non-compliant B-BBEE status.
    • The B-BBEE Commission reiterates its concern about the low level of reporting and the overall slow pace of economic transformation. To address this, the B-BBEE Commission has started conducting site visits on the reports submitted to verify the accuracy of the reports submitted and to identify best practices to share with other measured entities. Also, preparation to refer measured entities that failed to submit reports are underway as their conduct is not only a violation of the B-BBEE Act, but enables the harbouring of fronting arrangements.
    Online Workshops EconoBEE is hosting online workshops for both our existing clients and for anyone interested in attending. For our BEE Managed Services clients, all BEE half-day workshops are free and our full-day workshops are half-priced! Please see our website for more information on our workshops. To book, or to tailor-make a workshop for your company, please email info@econobee.co.za or call 011 483 1190.
    4Aug, 2020
    Read about the new Draft Amendments to Employment Equity!
    Quoting slow progress since the introduction of Employment Equity regulations, it seems the Department of Labour will be introducing a stern approach to driving transformation. EconoBEE has ascertained the following:
    • Numerical targets will be set by the department and these will be specific to your economic sector. Previously, companies set numerical targets themselves.
    • The draft does provide relief for certain companies in that employers with less than 50 employees will no longer be required to report annually, no matter what the turnover is.
    • An Employment Equity Certificate of Compliance will be required if you are bidding for government contracts.
    The new draft amendments to the Employment Equity bill went to parliament for comment on the 21st of July 2020. While you catch up on these proposed changes, contact us on 011 483 1190 and let us start talking about your submissions for this year which kick off in September 2020! Online Workshops EconoBEE is hosting online workshops for both our existing clients and for anyone interested in attending. For our BEE MS clients, all BEE half-day workshops are free and our full-day workshops are half-priced! Please see our website for more information on our workshops. To book, or to tailor-make a workshop for your company, please email info@econobee.co.za or call 011 483 1190.
    22Jul, 2020
    Earn more points on skills development!
    Earn more points on skills development: Absorption Bonus points under Skills Development Employers can earn 5 bonus points under skills development through the absorption of learners. In the  2013 Amended Codes of Good Practice (COGP) absorption was defined as the following: Absorption: means a measure of the Measured Entity’s ability to successfully secure formal permanent or long-term contract employment for the learner, or to assist the learner to proceed with further education and training. In May  2019 the Amended COGP changed the  absorption definition: Absorption: means a measure of the Measured Entity’s ability to successfully secure a long-term contract of employment for Employee, Learner, Intern or Apprentice. A long -term contract is defined as a legal agreement between an individual and an entity that this individual would work for until his or her mandatory date of retirement. The target for absorption is 100% to get full points, alternatively, a pro-rata calculation is used. The target is based on 5% of your headcount for learnerships. In 2013 it was easier to get the bonus points because the following would happen: 1. Provide the learner with a fixed-term contract and get the points or 2.  Provide the learner with another learnership which is a continuation of the previous one. Now with the new definition, it is not as easy to get the bonus points on skills development, however, at Econoserv, we have investigated this and found a cost-effective solution which is also B-BBEE complaint. To find out more please get in contact with us on 011 483 1190 or email info@econobee.co.za Online Workshops EconoBEE is hosting online workshops for our clients. For our BEE MS clients, all BEE half-day workshops are free and our full-day workshops are half priced! Please have a look through the following upcoming workshops: Title: Full-Day B-BBEE Workshop Date: 30 July 2020; 20 Aug 2020 Duration: 09h00 – 16h00 Price: R3 700.00 excl VAT Title: Half-Day B-BBEE Workshop Date: 04 Aug 2020; 13 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Construction Sector Code Workshop Date: 27 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Media, Advertising and Communications Sector Code Workshop Date: 18 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: 2-Hour YES Workshop Date: 25 Aug 2020 Duration: 09h00 – 11h00 Price: R650.00 excl VAT Title: Property Sector Code Workshop Date: 23 July 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Information, Communications and Technology Sector Code Workshop Date: 28 July 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Transport Sector Code Workshop Date: 11 August 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT To book, or to tailor make a workshop for your company, please email info@econobee.co.za or call 011 483 1190
    1Jul, 2020
    Do EAP targets apply to disabled skills spend in ICT sector codes?
    In terms of  Clause 2.3 of the Gazette No: 40407 it states that ‘’The compliance targets for 2.11.1,2.1.1.2, 2.1.2.1, 2.1.2.2 and 2.13 of the Skills Development Scorecard are based on the overall demographic representation of Black people as defined in the Employment Equity Act. For scoring purposes, the targets should be further broken down into specific criteria according to the different race sub-groups within the definition of Black in accordance with the Employment Equity Act requirement on equitable representation and weighted accordingly.” According to the above ICT sector codes clause, it would seem that EAP targets do apply to disabled skills spend. This clause is problematic, firstly with respect to how you calculate your skills spend as well as the fact that by virtue of being disabled, this group already falls under the designated group. We at EconoBEE have a solution to this “problem’’. At EconoBEE, we investigated this question with our various  partners in transformation, including the BEE commission and several SANAS approved verification agencies as well as the ICT Sector Council, to get clarity on how to advise clients to calculate their skills spend. If you have any questions or queries in relation to the above, please feel free to contact us on 011 483 1190 or please email info@econobee.co.za Online Workshops EconoBEE is hosting online workshops for our clients. For our BEE MS clients, all BEE half-day workshops are free and our full-day workshops are half priced! Please have a look through the following upcoming workshops: Title: Full-Day B-BBEE Workshop Date: 30 July 2020; 20 Aug 2020 Duration: 09h00 – 16h00 Price: R3 700.00 excl VAT Title: Half-Day B-BBEE Workshop Date: 07 July 2020; 04 Aug 2020; 13 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Construction Sector Code Workshop Date: 16 July 2020; 27 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Media, Advertising and Communications Sector Code Workshop Date: 18 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: 2-Hour YES Workshop Date: 14 July 2020, 25 Aug 2020 Duration: 09h00 – 11h00 Price: R650.00 excl VAT Title: Mining Sector Code Workshop Date: 21 July 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Property Sector Code Workshop Date: 23 July 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Information, Communications and Technology Sector Code Workshop Date: 28 July 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Transport Sector Code Workshop Date: 11 August 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT To book, or to tailor make a workshop for your company, please email info@econobee.co.za or call 011 483 1190
    7May, 2020
    Employment Equity changes and Online Workshops and Learnerships!
    1) The Department of Employment and Labour’s response to the impact of COVID 19 on the implementation of Employment Equity in the Labour Market Please find below a brief summary of the Commission for Employment Equity’s (CEE) response to the COVID-19 pandemic:
    • First and foremost, they are aware of the catastrophic impact that this has had on our economy, job creation and job retention.
    • They are thus understanding that the initial employment equity targets will not be “left unscathed”.
    • However, all employers are reminded that they still need to comply with all employment equity laws during any restructuring or configuration to ensure that there is no unfair discrimination against employees.
    • Employers must still strive to attain their 2020 EE targets, but in instances where this is not possible, they must document all reasons for the changes as prescribed in the EE regulations 2014.
    • Submission of EE reports for 2020 to start on the 1st of September 2020 until the 15th of January 2021.
    2) Online Workshops EconoServ is excited to announce that from May 2020, we will be hosting online workshops for our clients. Please have a look through the following upcoming workshops: Title: Employment Equity Workshop Date: 12 May 2020 and 30 June 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Half-Day B-BBEE Workshop Date: 26 May 2020 and 07 July 2020 and 04 Aug 2020 and 13 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Financial Sector Code Workshop Date: 28 May 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Full-Day B-BBEE Workshop Date: 04 June 2020 and 30 July 2020 and 20 August 2020 Duration: 09h00 – 16h00 Price: R3 700.00 excl VAT Title: Construction Sector Code Workshop Date: 09 June 2020 and 16 July 2020 and 27 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Tourism Sector Code Workshop Date: 18 June 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Media, Advertising and Communications Sector Code Workshop Date: 23 June 2020 and 18 Aug 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Mining Sector Code Workshop Date: 21 July 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Property Sector Code Workshop Date: 23 July 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Information, Communications and Technology Sector Code Workshop Date: 28 July 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT Title: Transport Sector Code Workshop Date: 11 August 2020 Duration: 09h00 – 13h00 Price: R1 550.00 excl VAT To book, or to tailor make a workshop for your company, please email info@econobee.co.za or call 011 483 1190 3) Online Learnerships
    • SPECIAL – Generic Management NQF 5 or Labour Relations NQF 5 for only R20k!!! These are two extremely popular online learnerships to upskill your employees who are in managerial roles. These include managers, team leaders, supervisors, junior managers, section heads and foremen.
    • Further online learnership options include:
    21Apr, 2020
    Support during Lockdown
    As we enter the 4th week of our country-wide lockdown, I sincerely hope that everyone is coping as best they can, staying safe and coming to terms with working from home! To all our clients in South Africa, we truly value your support and business and look forward to continue assisting you in the months and years to come. The COVID 19 crisis has certainly put pressure on our economy but the government, and various other bodies, have instituted a number of funds to assist companies who will be in need of financial support over the coming months. Companies who qualify for assistance must fall within a list of requirements, depending on the fund one seeks assistance from. Bearing this in mind, recently we’ve had a number of requests from companies to assist us in securing or improving their BEE certificate. If this is something that might be of interest to you, then please do no hesitate to get in touch with our team of legal experts who can advise you on the best possible way forward. Otherwise the team at EconoBEE sincerely wishes everyone the best over the coming weeks and months.
    9Apr, 2020
    EconoBEE during COVID-19
    Firstly, we would like to wish all those that celebrate, a Happy Easter 🙂 . We at EconoBEE hope you are staying safe and getting the hang of working from home! Our team has remote working capabilities and so is hard at work during this lockdown period, so please do not hesitate to contact us for any of your BEE, Skills Development (including Learnerships) and Employment Equity needs. Some SETAs have extended the submission deadline date for the skills development WSP and ATR submissions, please feel free to contact us for assistance with the submissions and we will be happy to assist. We are one of the oldest transformation consultants specializing in BEE, Skills Development and Employment Equity. We are also able to provide full strategic Learnership solutions (including online eLearning and other training courses), as well as the option for us to provide hosting for your learners. For more information, please follow the link to visit our website or contact our offices on the following numbers: Johannesburg office: 011 483 1190 Durban office: 031 648 0048
    Home page
    10Mar, 2020
    Redefining Ownership in ICT
    In the new ICT codes, provision is made for equity ownership by historically disadvantaged persons (HDG). HDG means black persons, women and persons with disabilities and youth, who before the Constitution of the Republic of South Africa 1996 came into operation were disadvantaged by unfair discrimination on the basis of race, gender, disability, sexual orientation and religion. The new minimum target for ownership of new individual license holders will be 30% black people and a minimum B-BBEE level 4 compliance. The level of compliance in terms of ownership needs to be maintained throughout the license period. Strict compliance is required by the new regulations which state that non-compliance by a licensee can result in a fine not exceeding R5 million or 10% of the company’s annual turnover. ICT companies have a 24 months transition period in which to comply with the new codes. It is possible that the new definition of historically disadvantaged persons and the new minimum ownership is likely to impact other sector codes. With EconoBEE being one of the oldest consulting agencies in the country, we can help you understand the recent changes and help with the transition and implementation from the old codes to the new codes with regards to ownership in the ICT sector. Join us for the following upcoming workshops: Title: Half – day B-BBEE Workshop Date: 24 March 2020 (JHB) Duration: 09h00 to 13h00 Price: R1 700 Excl VAT (Free of charge for our BEE Managed Service Clients) Venue: Johannesburg – Office No 08, Braamfischer Office Park, 152 Bram Fischer Drive, Ferndale, Randburg Title: Skills Development Workshop Date: 07 April 2020 (JHB) Duration: 09h00 to 13h00 Price: R1 700 Excl VAT (Free of charge for our SD Managed Service Clients) Venue: Johannesburg – Office No 08, Braamfischer Office Park, 152 Bram Fischer Drive, Ferndale, Randburg Contact us on 011 483 1190 to book. For more information, click here
    25Feb, 2020
    EconoBEE’s Learnerships and Apprenticeships on Offer!
    We’ve attached a document that gives an outline of EconoBEE’s learnerships and apprenticeships currently on offer. Before we look at that though, let’s take a look at how and why skills development in South Africa is so important, within a BEE framework.   Grow your own timber through skills development Skills development is a priority element in terms of your B-BBEE scorecard. 40% compliance with this priority element is required to score points. Failure to comply will result in the measured entity being discounted one level from the level actually achieved in terms of all five elements. The target spend for skills development is 6% of your payroll and, of the 6%, 3.5% needs to be spent on category B to F spend which includes learnerships. 2.5% needs to be spent on Category A spend, specifically on bursaries for Black students at higher education institutions. 5 points are available to be earned specifically for black people participating in learnerships, apprenticeships and internships as a percentage of total employees when the measured entity spends 5% on learnerships, apprenticeship and internships.   Mandatory and Discretionary Grants Besides BEE points there are other benefits to having skills development. Each employer must pay 1% of their payroll as a skills development levy and register with a relevant SETA. On an annual basis, before the deadline of the 30th of April 2020, SETA submissions will open and employers must report their workplace skills plan (which is their planned training for the year) and annual training report (training that has already happened in the previous year). If an employer’s submission is approved, the designated SETA can pay back up to 20% of the spend in the form of a mandatory grant. Mandatory grants are paid quarterly and any mandatory grant not claimed will be transferred into the SETA’s discretionary fund. The discretionary grants are paid out at the discretion of SETA management for skills development projects linked to scarce and critical skill, which allows employers to claim back between 40% to 60% of their training spend! Applications for discretionary grants must be made and approved before any training or other activity related to the skills development project can commence. A learnership means a work–based route to a qualification. It is a workplace education and training programme comprising both structured practical workplace (on-the-job) experience and structured theoretical training.   S12H deductions: tax benefits related to learnerships This deduction is given to the employer depending on the NQF level and whether the learner is disabled or not. This deduction comprises of an annual allowance and a completion allowance and is applicable to learnerships that commenced after 30 September 2016, but before 1 April 2022.   NQF Level 1-6 Annual allowance is R40 000 for the full 12 months but is apportioned for the number of months the learnership has been in effect during the year of assessment. (S12H(2)) Example: The learner, A Specimen, started a 12 months learnership on 1 August 2019 and the year of assessment is January to December. The annual allowance will be R16 667 (R40 000*5/12). Upon successful completion, the Completion allowance, in addition to the annual allowance, is R40 000 multiplied by the 12-month periods the learnership lasted. These 12-month periods are not apportioned. (S12H(3)) Example: A specimen has completed the learnership in the following year of assessment, that ends on December 2020.  The completion allowance will be R40 000 (R40 000 *1 because the learnership was only for 12 months. An 18 months learnership would have a completion allowance of R40 000*3 claimed at the year of completion). For disabled learners, the Annual allowance is R60 000, the Completion allowance is R60 000 and calculated in the same way as above. (S12H(5))   NQF level 7-10 The annual allowance is R20 000 and the Completion allowance is R20 000. These are calculated similarly to the above. (s12H(2A)) For disabled learners, the annual allowance is R50 000, the completion is also R50 000 and these are calculated the same way as above. (s12H(5A)) In addition to the relevant IT180, the tax authority may require proof of completion from SETA or the training provider if the SETA has not sent one yet. The training provider may be required to send SETA accreditation, registration of the learnership with the SETA and a statement of results or similar documentation to claim these allowances. Contact us on 011 483 1190 or info@econobee.co.za for assistance and guidance on learnerships & skills development planning, and all your companies BEE needs.
    11Feb, 2020
    Say YES to Succession Planning and Skills Development!
    In the past two newsletters we touched on the YES initiative and the importance of succession planning. In this newsletter we would like to discuss how it can all link and make business sense. As previously mentioned, none of these activities will ever work in any entity if they do not make business sense. Succession planning allows the business owner to plan for the future. The YES initiative’s purpose is to provide work experience for the youth and, with the absorption rule, then assist in the eradication of the unemployment crisis that we have in our country. Aligning the YES initiative to the business’s succession plan will also solve the skills development issue. After the absorption of the YES candidates, the entity will then have to look at upskilling the candidates in order for them to perform their duties effectively. This will address part of the 6% of the payroll spend under the skills development element on your BEE scorecard. Sending candidates for the right kind of learnerships, or paying for their higher education, can earn you points on your BEE scorecard but, not only that, the candidates will then come back and add value into the business and you will have people ready for growth within the entity, should an opportunity arise. For more information on how this can be approached, and for us at EconoBEE to answer any questions you may have, please join us for the workshops listed below: Title: 2-hour YES Initiative Workshop Date: 25 February 2020 (JHB) Duration: 09h00 to 11H00 Price: R750 Excl VAT Venue: Johannesburg – Office No 08, Braamfischer Office Park, 152 Bram Fischer Drive, Ferndale, Randburg Contact us on 011 483 1190 or info@econobee.co.za
    25Nov, 2019
    Better safe than sorry!
    Are you ready for an inspection by the Labour Department in terms of your Employment Equity compliance? The 19th report of the Commission on Employment Equity entitled:  “Transformation makes business sense” reflects the increase in employment equity reporting especially in the private sector. Part of the increase in number is attributed to the increase in Labour department inspections regarding implementation of affirmative action through an employment equity plan. The Labour Department has a target of at least 200 000 inspections per year to ensure compliance with the Employment Equity Act. The notice of inspection usually starts with a courtesy call followed by a letter detailing the name of the inspector, the date and time of the inspection. The designated employer will be requested to ensure the following information is available for inspection:
    • Proof that the responsibility for EE is assigned to one or more senior manager(s) as required by section 24 of the Employment Equity Act through a Letter of assignment
    • Proof of consultation with employees as required by section 16 read with section 17 of the Employment Equity Act, this is proved by providing Copies of minutes of the last Three EE Consultative forum Meetings; copies of the agenda of minutes; signed attendance registers.
    • Proof of analysis conducted as required by section 19 of the Employment Equity Act
    • Copy of Employment Equity Plan as required by section 20 of the Employment Equity
    • Proof of the publication of your reports as required by section 22 (applicable to public companies)
    • Proof of keeping of records as required by section 26 of the Employment Equity Act.
    • Attendance of stakeholders such as your Trade Union/ Shop Stewards, EE Committee Members as well as the CEO (if possible) at the inspection, if possible.
    We are experts within the transformation industry and are eager to support your company with Employment Equity reporting, consulting and submissions. Contact us now on 011 483 1190 or via email: info@econobee.co.za
    8Nov, 2019
    All that Glitters is not Gold!
    “All that glitters is not gold”. True and valid ownership in Broad-based black economic empowerment deals using trusts. The aim of the Broad-Based Black Economic Empowerment Act 53 of 2003 (B-BBEE Act) is the facilitation of B-BBEE by giving access to the economy which results in the necessary economic transformation of the South African economy. There is a clear misalignment between what is a legal trust and a trust that is B-BBEE compliant. There are different interpretations to this that have resulted in the BEE commissioner pronouncing that some trusts are currently invalid. It is therefore important that the ownership structures used are both correct in terms of not just the law in terms of what constitutes a trust, but fulfills the BEE Act in terms of economic interest and voting rights as outlined by the code requirements. This alignment is very important. This is probably making you wonder if the trust in place in your entity is a valid one, or if it has any fronting indicators. We at EconoBEE provide guidance in setting up and dissolving trusts and the advice we offer in setting up these trusts not only focuses on the ownership element, but we also make sure it makes business sense. We also review documentation of trusts that are already in place to assist with the identification of fronting indicators and provide corrective measures thereof. Join us for the following upcoming workshops: Title: 2-hour overview – Enterprise and Supplier Development Date: 13 November 2019 (JHB) Duration: 09h00 to 11H00 Price: R850 Excl VAT Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Title: 2-hour overview – Procurement Date: 21 November 2019 (JHB) Duration: 09h00 to 11H00 Price: R850 Excl VAT Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Title: 2-hour overview – Socio – economic Development Date: 27 November 2019 (JHB) Duration: 09h00 to 11H00 Price: R850 Excl VAT Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Title: Full Day B-BBEE Workshop Date: 03 December 2019 (JHB); 05 December 2019 (DBN) Duration: 09h00 to 16H30 Price: R3 913.04 Excl VAT (50% discount for our Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg; Durban – Office No 4C, The Circle, Douglas Crowe Drive, Ballito Title: 2-hour overview – Verification Date: 04 December 2019 (JHB) Duration: 09h00 to 11H00 Price: R850 Excl VAT Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Title: Half – day B-BBEE Workshop Date: 10 December 2019 (JHB) Duration: 09h00 to 13h00 Price: R1 700 Excl VAT (Free of charge for our Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Contact us on 011 483 1190 to book. For more information, click here
    29Oct, 2019
    Employment Equity Submissions Reminder!!!
    A few weeks ago, we sent out a newsletter to inform all the designated employers that the Employment Equity submissions to the Department of Labour window period has officially opened. We at EconoBEE thought we should take a moment to remind you to get those submissions in and to inform you that there has been a change that you will need to take into consideration when preparing for the submission. On the 8th of August 2019 the Department of Labour announced a change in the EEA form. It is important for designated employers to fill in the new form as part of the 2019 submission season. What are the changes that have been introduced and how may they impact your EE reporting? With the year almost at an end, and the submission window period approaching it’s deadline, we at EconoBEE will provide you with an answer to the question above and assist you in identifying if you are a designated employer in your specific sector. Join us for the following upcoming workshops: Title: Full Day Employment Equity Workshop Date: 29 October 2019 (JHB) Duration: 09h00 to 16H30 Price: R3 913.04 Excl VAT (50% discount for our Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Title: 2-hour overview – Y.E.S Date: 06 November 2019 (JHB) Duration: 09h00 to 11H00 Price: R850 Excl VAT Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Title: 2-hour overview – Enterprise and Supplier Development Date: 13 November 2019 (JHB) Duration: 09h00 to 11H00 Price: R850 Excl VAT Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Title: Full Day BEE Workshop Date: 13 November 2019 (DBN) Duration: 09h00 to 16H30 Price: R3 913.04 Excl VAT (50% discount for our Managed Service Clients) Venue: Durban – The Circle, Douglas Drive, Ballito Title: 2-hour overview – Procurement Date: 21 November 2019 (JHB) Duration: 09h00 to 11H00 Price: R850 Excl VAT Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Title: 2-hour overview – Socio – economic Development Date: 27 November 2019 (JHB) Duration: 09h00 to 11H00 Price: R850 Excl VAT Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg Please contact us on 011 483 1190 or email us to book.
    16Oct, 2019
    DRAFT AMENDED CODES!
    On the 25th of September 2019 the draft amendment Tourism B-BBEE sector codes were announced. The draft amendment Tourism sector codes aim to create a sustainable tourism industry that is globally competitive, but also transformed with the empowerment of Black people. The sub-minimum requirement for the priority elements of ownership, skills development and enterprise and supplier development is 40%. It is noted under enterprise and supplier development, for the avoidance of doubt, that the minimum requirement for a measured entity is 11 points under the Preferential Procurement category; 4 points under the Supplier Development category; and 2 points under the Enterprise Development category; Clarity is given in the Tourism codes around how the flow through principle will apply, as well as guidelines on the turnover threshold to measured entities that are EME, QSE and Generic which is different to amended codes of good practice. The draft amended Tourism sector codes have also had changes to definitions and some new definitions with respect to absorption, current equity interest date, designated group supplier, long term contract employment, new enterprise. The draft amendment tourism sector codes are a clear indication that all other sector codes will be amended to align them with the 2019 amended codes. Measured entities in other sectors such as MAC, ICT, Financial services, Accountancy, Property, Construction etc. need to plan for 2020 with this in mind. With EconoBEE being one of the oldest consulting agencies in the country, we can assist you in finding out if the recent changes apply to your entity and also help you with the transition and implementation from the old codes to the new codes.   Workshops: It is Employment Equity submission time again! Join us for an in-depth look at Employment Equity whereby we will help you prepare for this important submission: Title: Full Day Employment Equity Workshop Date: 29 October (JHB) Duration: 09h00 to 16H30 Price: R3 913.04 Excl VAT (50% discount for our Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg   In addition, EconoBEE is offering an 8-week series of two (2) hour overview workshops (09h00 – 11h00) for each element on the B-BBEE scorecard. We would like to invite you to come join us at 435 Rugby Avenue, Ferndale on the dates listed below:  16 Oct – Management control 23 Oct – Ownership 30 Oct – Skills Development 06 Nov – YES Initiative 13 Nov – Enterprise and Supplier Development 20 Nov – Procurement 27 Nov – Socio-Economic Development 04 Dec – Verification The cost for the 8 week series is R850.00 excl VAT for each session, please contact us on 011 483 1190 or email pheliswa@econobee.co.za to book.
    1Oct, 2019
    B-BBEE Ownership Pitfalls!

    Sales of Assets: Grey Area of Interpretation

    Sale of assets is a recognized avenue to facilitate ownership within B-BBEE ownership deals. Is there a grey area of interpretation of how the sale of assets should be calculated?

     

    The requirements for a sale of an asset to qualify for ownership, is that for an on-going business to be recognized as an ownership deal:

     

    Must result in a sustainable business,

    No unreasonable limitations can be placed on the business, and it

    Must be at arms-length to avoid fronting.

     

    Sale of machinery is not recognized.

     

    The codes are clear “transfer of business rights by way of license, lease or other similar legal arrangements not conferring unrestricted ownership; and sales of franchises by franchisors to franchisees, but includes sales of franchises from franchisees to other franchisees or to new franchisees do not qualify for recognition”.

     

    Debate

    Should the value of the business assets minus liabilities be taken into consideration as the value of the business or rather should it be the value of the shares in the business?

     

    For example, company A has a market value of 50 million rand and they have a maintenance department worth 5 million rand. The value of company A shares, which are unlisted on the JSE, is approximately R500 000 making up 500 000 shares. Should the company want to sell their maintenance department as part of a sale of assets ownership deal, what factors should be taken into consideration in calculating the value of the sale of assets and its equivalent in terms of black ownership?

     

    Keep in mind that for black ownership to qualify, the maintenance business must be sold at a minimum to a 51% black ownership company.

     

    What is the true value of Company A?

    One school of thought would argue that the value of Company A should be calculated solely on the market value of the business which is 50 million rand.

     

    Another school of thought would argue that the value of business should be calculated using an equation that takes into account the value of the business, as well as the value of the unlisted JSE shares.

     

    With EconoBEE being one of the oldest consulting firms specializing in BEE, Employment Equity and Skills Development, guidance is given by our team of highly qualified consultants in the sale of asset ownership deals to ensure compliance.

     

    To help you further understand the above, we have the following upcoming workshops on BEE:

     

    Title: Full-Day B-BBEE workshop

    Date: 08 October (JHB), 09 October (CPT), 13 November (DBN)

    Duration: 09h00 to 17h00

    Price: R3 913.04 Excl VAT (50% discount for our Managed Service Clients)

    Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito, Cape Town.

     

    To book please email us on pheliswa@econobee.co.za or call us on 011 483 1190

     

    Click here for more information on the various workshops we hold.

    17Sep, 2019
    Is BEE costing you business?
    I’d like to share a story with you. Recently a very large company lost out on a huge tender due to not having a favourable BEE rating. Their product was great, their service was great, but their BEE status was not great. I often hear people saying, “I’m in a niche market” or  “my customer will always buy from me”. But this is not always true. What happens when there is competition? And what happens when that competition also has a great product and great service? And due to their better BEE rating they get the business? The sad part is most of the companies who fall into the category of the above don’t even realise that they are losing business and actually had the potential to grow the business. Implementing BEE should not be seen as a grudge purchase, it is something that is part of your business strategy. Our approach synergises your BEE activities, Employment Equity and Skills Development, Succession planning, Change management to ensure that activities are value adding and transformation is achieved in a sustainable and long term way.   Join us for the following upcoming workshops: Title: Half Day Employment Equity Workshop Date: 19 Sep (JHB), 26 Sep (DBN), 10 Oct (CT) Duration: 09h00 to 13h00 Price: R1 700 Excl VAT (Free of charge for BEE Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito, Cape Town – TBC   Title: Full Day BEE Workshop including the Amendments to the B-BBEE Codes Date: 08 Oct (JHB), 09 October (CT), 13 Nov (DBN) Duration: 09h00 to 17h00 Price: R3 913.04 Excl VAT (50% discount for BEE Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito, Cape Town – TBC   To book please email us on pheliswa@econobee.co.za or call us on 011 483 1190 Click here for more information on the various workshops we hold.
    27Aug, 2019
    Employment Equity submission window period opens 1 September 2019 to 15 January 2020
    In our previous newsletter we touched on the disconnect between Management Control and Employment Equity. In this newsletter, though, we are reminding you that the Employment Equity report submission window period to the DoL runs from the 1st of September 2019 to 15 January 2020. Designated employers (companies, government departments) are obliged to submit every year to the DoL, as per the Employment Equity Act. This includes their employment equity reports in relation to demographic profiles, gender representation and employment equity plans on how to address discrimination and inequity in the workplace. If you qualify as a Designated Employer and either: Supply incorrect information, do not comply with the Employment Equity Act requirements, or do not submit the documents on time, then the following could occur:
    • You may be fined heavily by the DoL – up to 10% of turnover depending on the severity of contravention.
    • The DoL may visit you and do a full audit on your company.
    Of interest in EE related news, is the Black Management Forum (BMF) establishing a litigation fund with the aim of taking legal action against “gross violations derailing transformation in South Africa”. BMF also says that the fund will “serve as a tool to enforce transformation in an effort to achieve justice, fairness and equity”. See the full article here. As mentioned in our previous newsletter, we have a series of upcoming workshops that will help you gain a better understanding of the Employment Equity Act and the importance of the Employment Equity report submission to the DoL. Our team of highly qualified consultants at EconoBEE are ready to assist with the submissions to the DoL during this submission period.   Join us for our upcoming Employment Equity workshops in Johannesburg and Durban: Title: Half Day Employment Equity Workshop Date: 19 September (JHB), 26 September (DBN) Duration: 09h00 to 13h00 Price: R1 700 Excl VAT (Free of charge for our Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito   Title: Half Day BEE Workshop Date: 27 August (JHB), Duration: 09h00 to 17h00 Price: R1 700.00 Excl VAT (Free of charge for our Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito   Title: Full Day BEE Workshop including the Proposed Amendments to B-BBEE Codes Date: 27 August (DBN), 08 October (JHB) Duration: 09h00 to 17h00 Price: R3 913.04 Excl VAT (50% discount for BEE Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito We will also be hosting a free session on EE for our existing clients. For more information on our training, please click here / contact us on 011 483 1190 or email pheliswa@econobee.co.za
    13Aug, 2019
    The Disconnect between Management Control and Employment Equity
    A designated employer is required in terms of the Employment Equity Act to create a representative workforce at each occupational category/level. An employer is held to be designated if they employ 50 or more employees. Should an employer have fewer than 50 employees, but have a total annual turnover as reflected in terms Schedule 4 of the Employment Equity Amendment Act 47 of 2013, they will be required to submit an employment equity report with the Department of Labour. Municipalities and Organs of State are also held to be designated employers. In terms of section 14, an employer can volunteer to become a designated employer. In terms of the Employment Equity Act, the designated group includes:
    • Africans, Indians, Coloureds and Chinese
    • women and
    • persons with disabilities.
    It is clear that these constitute three distinct groups, but that it is also possible for an individual to belong to more than one of these collectives. For example, black women fall within two designated groups on the basis of race and gender. This definition also means that white women, by virtue of gender, are held to be members of the designated group to benefit from affirmative action. In terms of the Broad-Based Black Economic Empowerment Act, the designated group is limited to Africans, Coloureds, Chinese and Indians. White females are therefore not recognized within BBBEE. Employers will not earn points in terms of BBBEE for white females under the elements of ownership, management control, skills development and procurement. This is indicative of the aim of the BBBEE Act which is to empower Black people. Employers therefore have an important balancing act to ensure representativity of white women to comply with the Employment Equity Act, and not have an over-representation of white women that negatively impacts their score under BBBEE due to non-recognition. With EconoBEE being one of the oldest consulting firms in South Africa that specialize in BEE, Employment Equity and Skills Development, we have a team of highly qualified consultants to help you and your business manage the gap and maintain the balance between your entity’s BEE and Employment Equity. We help you understand the link between the two through the various training courses and consultation services that we offer. To help you further understand the above, we have the following upcoming workshops on Employment Equity and BEE: Title: Half Day Employment Equity Workshop Date: 15 August (JHB), 28 August (DBN), 17 September (CT) Duration: 09h00 to 13h00 Price: R1 700 Excl VAT (Free of charge for our Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito   Title: Half Day BEE Workshop Date: 27 August (JHB), Duration: 09h00 to 17h00 Price: R1 700.00 Excl VAT (Free of charge for our Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito   Title: Full Day BEE Workshop including the Proposed Amendments to B-BBEE Codes Date: 27 August (DBN), 08 October (JHB) Duration: 09h00 to 17h00 Price: R3 913.04 Excl VAT (50% discount for BEE Managed Service Clients) Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito   For more information on our training, please click here / contact us on 011 483 1190 or email pheliswa@econobee.co.za
    30Jul, 2019
    “We are not going to scrap B-BBEE” – Ramaphosa
    In one of our previous newsletters, we mentioned that B-BBEE still remains an absolute necessity and will be around for many years to come, albeit in an evolved form. President Cyril Ramaphosa’s recent speech to the National Assembly, is proving this true: “We are not going to scrap B-BBEE, because it has brought real benefits to blacks, women and persons living with disabilities. It has contributed to the significant growth of a black middle class, boosted employment equity and it has enabled black people and women to become owners and managers of businesses,” and “Far from abolishing it (B-BBEE), now is actually the time to strengthen it, to make it more effective and make it more aligned with our goals of increasing investment and employment,”. Read the full article here Where does that leave you? As a company, you and your staff need to be aware of B-BBEE and the various elements. For instance, B-BBEE affects purchasing decisions (procurement), staff recruitment (management control), strategic partnerships (Supplier and Enterprise Development and Ownership), staff training and succession planning (Skills Development), community assistance (Socio-Economic Development) and numerous other business decisions. By attending our training, you will be equipped to maximise opportunities to improve your company’s B-BBEE scorecard in a way that makes business sense, and be fully prepared to implement BEE activities in your company. EconoBEE offers various B-BBEE specific workshops in Johannesburg, Cape Town and Durban and if you are needing more tailored assistance, we are specialists in customising seminars specific to your company’s needs. A brief look at our upcoming Workshops include:
     DATEWORKSHOP TITLEPRICE
     Johannesburg 
    06 August 20192 hour Y.E.SR750.00
    15 August 2019Half Day – Employment EquityR1700.00
    27 August 2019Half Day – BEER1700.00
    10 September 2019Sector Codes: PropertyR1700.00
    19 September 2019Half Day – Employment EquityR1700.00
    26 September 2019Half Day -Skills DevelopmentR1700.00
    08 October 2019Full Day – BEER3193.04
    17 October 2019Sector Codes: ICTR1700.00
    31 October 2019Half Day – Employment EquityR1700.00
     Durban 
    27 August 2019Full Day – BEER3913.04
    28 August 2019Half Day – Employment EquityR1700.00
    13 November 2019Full Day – BEER3913.04
    14 November 2019Half Day – Employment EquityR1700.00
     Cape Town 
    13 August 2019Half Day – BEER1700.00
    14 August 2019Half Day – Employment EquityR1700.00
    17 September 2019Half Day – Employment EquityR1700.00
    18 September 20192 hour Y.E.S InitiativeR750.00
    09 October 2019BEE- Full DayR3913.04
    10 October 2019Half Day – Employment EquityR1700.00
    All prices exclude VAT For more information on our training, please click here / contact us on 011 483 1190 or email pheliswa@econobee.co.za
    16Jul, 2019
    18 July – Mandela Day Post!
    The date of the 18th of July has been adopted by the international community as Nelson Mandela International Day. In South Africa, we have the opportunity to take this one step further by embracing the aims of the Mandela Day movement and incorporating this within our Socio-Economic Development (SED) strategies. We can all make a difference and companies embracing this idea can, through their collective effort, truly change our country. Mandela Day is not a holiday, but rather it is a day for all of us to opt into humanity – to roll up our sleeves and play an active role in building our communities. This is an opportunity for each of us to share Nelson Mandela’s vision of a better future for all.

    “What counts in life is not the mere fact that we have lived. It is what difference we have made to the lives of others” – Nelson Mandela

    There are many objective’s of the Mandela Day movement but ultimately it seeks to empower communities everywhere. Specific goals that have been identified for 2019 – 2029 relate to the following categories:
    • Education and Literacy
    • Food and Nutrition
    • Shelter
    • Sanitation
    • Active Citizenship
    Socio-Economic Development (SED) contributions are any monetary or non-monetary contribution implemented for individuals (natural individual or group of natural individuals) or communities, where at least 75% of the beneficiaries are classified as black people in terms of race. QSEs and Generic Entities will be recognised with valuable points under the SED element for making these contributions towards the beneficiaries under the criteria. In terms of the BEE Codes of Good Practice, the objective of SED contributions is to assist in facilitating income generating activities. The initiatives can involve the following development programmes for females, youth people with disabilities and people living in rural areas; support of health care and HIV/AIDS programmes; support of education programmes, resources and materials at primary, secondary and tertiary education as well as bursaries and scholarships. Community training, skills development for unemployed people and adult basic education training or support of arts, cultural or sporting development programmes.   Join us for our upcoming BEE workshops: Lianne Friedman, our CEO, is hosting a full day workshop on BEE on the 18th of July in Johannesburg (Cape Town and Durban will be later dates, see below) that will assist you in preparing for financial year end, help obtain some much-needed points and prepare fully for verification.
    • Title: Full Day BEE Workshop including the Amendments to the B-BBEE Codes
    • Date: 18 July (JHB), 27 August (DBN), 09 October (CT)
    • Duration: 09h00 to 17h00
    • Price: R3 913.04 Excl VAT (50% discount for BEE Managed Service Clients)
    • Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito, Cape Town – TBC
    To book please email us on pheliswa@econobee.co.za or call us on 011 483 1190 For more information on the various workshops we hold, please visit https://econoservices.co.za/training-workshops-seminars/
    2Jul, 2019
    Jailtime for Fronting!
    News within the B-BBEE community (and South African Business) has lately been dominated by articles discussing fronting and recent strides being made by the B-BBEE commission in clamping down on unlawful transactions, specific to the ownership element. In a recent article Busisiwe Ngwenya, the executive manager for compliance at the B-BBEE Commission, advised delegates that when signing contracts to consult someone who will be able to explain the terms in their simplest form, so as to eliminate chances of being exploited. Ownership must have voting rights, economic interest and net value! Fronting, which is a misrepresentation of a company’s BEE status, has been criminalised by the BEE act and perpetrators could face jail time of up to 10 years in prison and/or a fine of up to 10% of a company’s turnover. If you would like advice on your company’s current BBE transactions, or need assistance in any pending BEE ownership deals, please feel free to get in contact with us. Upcoming workshops include:
    • Full Day BEE Workshop including the Amendments to the B-BBEE Codes (Facilitated by our CEO)  – 18 Jul (JHB), 27 Aug (DBN), 09 Oct (CT)
    • Half Day BEE Workshop – 16 Jul (CT), 23 Jul (DBN), 27 Aug (JHB)
    • 2 Hour YES Workshop – 17 Jul (CT), 24 Jul (DBN), 06 Aug (JHB)
    To book please email us on pheliswa@econobee.co.za or call us on 011 483 1190 For more information on the various workshops we hold, please visit https://econoservices.co.za/training-workshops-seminars/
    11Jun, 2019
    Make perfect Business and BEE sense
    Tired of buying BEE points? Or rather see BEE as a grudge purchase? Want to make a genuine difference in South Africa? Want to grow your business? Contact EconoBEE to explain how our revolutionary managed service has helped thousands of clients implement sustainable BEE activities in a way that makes perfect business sense. Being one of the oldest BEE consultancies we have seen all the changes to the legislation and been there through it all. Our advice makes perfect BEE sense and helps your company grow. With success stories of skills development and enterprise and supplier development we know that we can give you strategic advice that can be implemented in your business. Looking forward to growing our economy, your business and people one step at a time!! Join us for our upcoming BEE workshops: Lianne Friedman, our CEO, is hosting a series of full day workshops that will assist you in preparing for financial year end, help obtain some much-needed points and prepare fully for verification. These courses are designed to help the key people in your organisation understand the requirements and the codes and to design and implement strategies to increase the company’s B-BBEE scorecard.
    • Title: Full Day BEE Workshop including the Amendments to the B-BBEE Codes
    • Date: 18 July (JHB), 27 August (DBN), 09 October (CT)
    • Duration: 09h00 to 17h00
    • Price: R3 913.04 Excl VAT (50% discount for BEE Managed Service Clients)
    • Venue: Johannesburg – 435 Rugby Avenue, Ferndale, Randburg, Durban – The Circle, Douglas Drive, Ballito, Cape Town – TBC
    Other upcoming workshops include:
    • Half Day BEE Workshop – 16 Jul (CT), 26 Jul (DBN), 27 Aug (JHB)
    • 2 Hour YES Workshop – 17 Jul (CT), 27 Jul (DBN), 06 Aug (JHB)
    To book please email us on pheliswa@econobee.co.za or call us on 011 483 1190 For more information on the various workshops we hold, please visit https://econoservices.co.za/training-workshops-seminars/
    1. Pages:
    3. 1
    4. 2
    5. 3