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    1Apr, 2025
    Here’s Looking at You, April!

    April is upon us, and with the realization that we are now four months into 2025 (!!) we would like to take a moment to reflect on some recent milestones achieved and upcoming prospects:

     

    Ongoing Skills Development Submissions – Stay on Track!

    The window for Skills Development submissions remains open (closing date 30 April 2025), and we encourage businesses to take full advantage of the available grants and incentives. Investing in skills development not only enhances workplace efficiency but also strengthens your B-BBEE scorecard. If you need assistance with your submissions, our team is ready to support you every step of the way!

     

    A Milestone Achievement: Our Directors Are Now Accredited!

    We’re proud to announce that our directors: Allan, Dr. Muriel, and Ndi, have been officially accredited by the Association of B-BBEE Professionals. This recognition is a testament to their dedication, expertise, and unwavering commitment to driving transformation in South Africa. With their leadership, we continue to offer industry-leading guidance to businesses seeking sustainable and impactful compliance solutions.

     

    Update on the Transformation Fund

    The Department of Trade, Industry and Competition (the DTIC) recently introduced a concept paper on the establishment of a Transformation Fund. This initiative, in collaboration with the private sector, aims to raise R100 billion to support black-owned businesses and accelerate economic transformation.

    The concept document is now open for a 30-day public commentary period and members of the public as well as interested parties are invited to make inputs and comments on the Draft Concept from the 20th March 2025 until 07th May 2025.

    A link to the concept document and more information on the commentary process, can be found by clicking here

    We will continue to monitor developments around the Transformation Fund and keep you informed on how it may impact your business.

     

    April holds some exciting opportunities – so let’s make this month count!

    9Nov, 2021
    Happy News to end off 2021

    It is with great pleasure that we announce that EconoBEE is officially 51% Black owned and is the leading Black Economic Empowerment (BEE) Strategy and Management Consulting firm in South Africa.

    Founded in 2000, EconoBEE is a highly specialised, niche corporate advisory business that specialises in providing companies with Research, Advice and Structuring services in the areas of Corporate Regulatory Compliance within the Broad-Based Black Economic Empowerment (B-BBEE), Employment Equity (EE), Transformation, Enterprise and Supplier Development (ESD) and Skills Development (SD) ecosystem. As a 51% Black Owned EME, EconoBEE is a Level 2 BEE compliant company with a total recognition score of 125%. As a visionary organisation within the South African BEE context, the company’s strategic goal is to ease the legal, compliance and administrative burdens and legislative shortcomings of its clients, whilst assisting in their growth endeavours. EconoBEE makes use of highly sophisticated, state-of-the-art technology software to analyse their client’s corporate ownership structures. This is further bolstered by an in-depth set of Gap Analyses in the formulation of scorecards that essentially measure the success of their clients’ strategic endeavours and corporate goals. Our team is made up of a team of consultants with a mixture of legal and commercial qualifications. EconoBEE’s revolutionary consulting concepts and analytical management methodologies  has resulted in the business, as well its brand, becoming one of the most recognized in the areas of Transformation and Broad-Based Black Economic Empowerment in South Africa.

    We look forward to growing EconoBEE to greater heights as we begin this new journey.

    16Feb, 2021
    The deadline for the annual submission of the WSP is 30 April 2021!
    The law states that a company with a payroll that exceeds R500 000 per annum must be registered to pay the Skills Development Levy (SDL). All companies with 50 or more employees need to establish a Skills Development Committee and consult with the Committee prior to the submission of the skills report. All companies need to appoint a suitably qualified Skills Development Facilitator (SDF) to facilitate the training needs within the organisation and liaise with the SETA. The WSP (Workplace Skills Plan) plays a significant role in the execution of education, training and development initiatives in the organization. An employer needs to establish a WSP, which is a strategic document that details how the employer will address the needs for development and training in the workplace. Remember to link this to your succession plan! This should be in line with the core and critical skills identified by the SETA. The ATR (Annual Training Report) is accurate documentation of all the training that has taken place in the reporting period in the organisation i.e.: the ATR is the past information and the WSP is the future planned training. Benefits of Submitting your Skills Development Reports:
    • The Skills Development Act aims to develop the skills of the South African workforce, thereby improving the quality of life for workers and giving them more prospects of work. It also aims to improve productivity in the workplace, the competitiveness of employers and to promote development.
    • The Skills Development Levies collected by the SETA are channelled towards skills development. This levy can be claimed back by an employer if they submit their WSP, ATR and Pivotal training report and achieve the goals set out
    • You can claim up to 20% of the SDL you pay by submitting your WSP and ATR in time
    • In order to maximise your B-BBEE points for skills development, you need to submit your skills development report to the SETA on time
    • You are able to access SETA grants to assist in training your employees
    When skills development is structured in the best way, and core and critical skills are identified, implementation becomes sustainable and ends up saving you money. Learnerships are a key strategy to achieving your goals as well as enabling you to take advantage of the tax allowances, employee tax incentives and seta grants which reduces your overall cost. ECONOBEE is hosting a number of workshops on SKILLS DEVELOPMENT! Delegates will gain a better understanding of the requirements of the SD Act and SDL Act and will have more knowledge on how to submit your documents and how to maximise your skills development spend. We will explain how targeted skills development can actually save you money, via tax incentives, and maximise your B-BBEE skills development recognition. Can’t attend? Please contact us on 011 483 1190 and we can tailor a solution for you.
    2Feb, 2021
    Are your skills development goals aligned to your employment equity targets?
    Recently the Parliament’s Portfolio Committee on Employment and Labour has called for public comment on the Employment Equity Amendment Bill. The bill has been described by President Cyril Ramaphosa as a ‘game changer’ for Black Economic Empowerment in South Africa. The Minister of Labour, after consulting with various sectors including the Commission for Employment Equity, will be empowered through the Bill to set numerical employment equity targets for any sector or part of a sector by notice in a gazette. The Labour department has clarified that the notice may set different numerical targets for different occupational levels, sub-sectors or regions. Some of the factors which the Minister will consider when setting sector targets include:
    • The qualification, skills and experience required to be employed in a particular occupational level;
    • The rate of turn-over and natural attrition in a sector;
    • Recruitment and promotional trends within a sector.
    The Employment Equity Act is clear that “suitably qualified” candidates should be appointed.  It is therefore important that designated employers align their skills development goals to their employment equity targets so that, should there be a specific qualification or skill required for a particular occupational level, there is proper alignment. Avoid the pitfalls of non-alignment and let us help you with your skills development planning. Why not give us, at EconoBEE, a call on 011 483 1190 or email us and let us help simplify and expedite your transformation journey!   Online Workshops To peruse our 2021 Online Workshop List, please click here