In their comments, critics in the private sector have labelled the recently unveiled amended BEE codes of practice as “anti-business”. On the other hand, others wholeheartedly support the changes.
Ultimately, the effectiveness of the amended BEE Codes, as good as they might appear on paper, would lie in their application. In the main, the following are their highlights:
• Five elements in generic scorecard;
• Ownership points broadened to include designated groups in the main points;
• Exempted micro-enterprises and qualifying small enterprises thresholds adjusted;
• All companies in the R10m annual revenue category to comply with five elements;
• Revised qualification points for BEE recognition;
• New priority elements- ownership, skills development and supplier development;
• 100% black owned EME – level 1 status;
• 50% and above black owned EME – level 2 status and
• BEE employment equity elements aligned with the Employment Equity Act.