• Search for:

    Tag Archives: ICT Sector

    1. Home  - 
    2. Posts tagged "ICT Sector"
    4Nov, 2024
    November News: B-BBEE Updates and Our Big Move!

    We’ve got some exciting updates for you this month, plus some important insights on B-BBEE compliance and fronting practices to keep you in the know!

     Getting Real About B-BBEE Compliance

    As a distinguished B-BBEE practitioner put it, “Fronting practices are deceptive actions that sidestep the purpose of the B-BBEE Act. While they may look like true B-BBEE initiatives, they actually block real transformation.” Fronting can take many forms, including:

     Blocking Black Participation – Preventing Black employees from taking part in meaningful roles

    • Withholding Benefits – Claiming compliance while not passing on the real benefits to Black beneficiaries
    • Misleading Partnerships – Forming or colluding in “B-BBEE partnerships” without offering genuine economic benefits

     The consequences? Businesses found guilty of fronting can face penalties, loss of state contracts, and even prison time for responsible individuals. (read this article about a group of directors that have been arrested for fronting).

     Authentic transformation is at the heart of B-BBEE, and that is where we come in—helping you ensure compliance, protect your business, and promote meaningful change.

     Heads-Up for ICT Sector Clients

     If you’re in the ICT sector, don’t forget that annual contribution fees are due by December 1, 2024:

    ICT Generic Entities (Turnover > R50M): 0.015% of NPAT or R2,500, whichever is higher
    ICT QSEs (Turnover > R10M and < R50M): R1,250
    ICT EMEs (Turnover < R10M): R650

     We’ve Moved to Our New Home!

    EconoBEE has a brand-new, permanent home! Our new space is designed to give us room to grow, serve you better, and create more impact. Feel free to stop by and check out the new place! We’re located at 25 Loots Road, Blairgowrie, Randburg.

     Let’s Connect and Keep Things Compliant!

    When B-BBEE gets too hectic, EconoBEE is always around the corner. Drop us a line, and let’s talk about keeping your business strong, compliant, and ready for the future.

     Warm regards,
    ECONOBEE TEAM

    17Aug, 2021
    The ICT Sector: the complexity of definitions
    The relatively new Information and Communication Technology (ICT) sector is made up of the manufacturing and services sectors whose main activities are linked to development, production, commercialisation, and intensive use of new technology. This sector is the fastest-growing sector within South Africa, however, there does exist a scarcity of participation of Black female-owned entities. The Amended ICT Sector draft codes were gazetted on the 27th of October 2015 and, subsequently, the finalized Amended Sector Code was published in the Government Gazette on the 7th of November 2016. However, the most alarming fact about the Amended ICT Codes is that a lack of definition exists within it. Hence, in the areas where the Amended ICT sector is silent, we refer to the DTI Codes. This has sparked several debates as the DTI (Amended Codes of Good Practice) were again amended on the 31st of May 2019. A few examples of areas in contention include:
    1. The SDF calculation
    2. The absorption definition
    3. The 2.5% learnership indicator
    We had a meeting with the ICT council to discuss the above issues of debate and we were able to get an acceptable consensus on these and other issues.

    Do you fall under the ICT codes? Would you like to have guidance on the above in terms of the priority element of skills development and in other matters?

    Contact us and we can help you maximise your scorecard with minimal fuss!