# Regulatory Compliance Category > BEE and Employment Equity Forum >  Trade and Industry on Broad-Based Black Economic Empowerment (B-BBEE) compliance

## I Robot

BBBEE transitional period update   

29 August 2008 

This Sunday, the 31st of August 2008, marks the official end of the transitional period and signifies the unconditional application of the Broad Based Black Economic Empowerment (BBBEE) Act's Codes of Good Practice. 

The transitional period was an 18-month window granted by the Department of Trade and Industry (DTI) to allow the market to align their industry sectors to the codes and to convert from narrow to broad-based Black Economic Empowerment (BEE). 

The DTI would like to emphasise that no further extension of the transitional period is envisaged, and that the gazetting process will continue with regard to all the draft sector charters received before the end of the transitional period. 

The Minister of Trade and Industry, Mr Mandisi Mpahlwa, will on Sunday issue a public statement setting out the process to be followed after the lapse of the transitional period.

More...

----------


## I Robot

Accreditation and verification for Broad-Based Black             Economic Empowerment (B-BBEE) compliance   

15 September 2008 

The Department of Trade and Industry (the dti) gazetted the Codes of Good Practice for Broad-Based Black Economic Empowerment (B-BBEE) on 9 February 2007. The objectives of the codes is to provide guidance on the implementation of B-BBEE in terms of the key measurement principles, the definitions and the specific targets attached to each element of B-BBEE. The B-BBEE Codes, section 10 provide the 'Framework for accreditation of BEE Verification Agencies (VAs)'. 

The dti also gazetted the Verification Manual on 18 July 2008, to provide guidelines on the minimum standards, ethics and general methodologies required to underpin verification processes. 

SANAS as the accreditation body mandated by the dti is conducting accreditation of VAs in terms of the accreditation criteria that is developed, maintained and enforced, in terms of section 10.3 of the B-BBEE Codes. The criteria for accreditation will conform and comply with the Codes of Good Practice, the requirements of SANAS R47-02 supported by the Verification Manual as gazetted with the intention of providing assurance that the objectives of the B-BBEE Act are achieved. 

A lot of progress has been made as far as accreditation of verification agencies. The market is encouraged to interact with those verification agencies that are in the process of obtaining SANAS accreditation. The dti envisage announcing further positive developments as far as the accreditation of verification agencies in the near future; given the extensive work already done.

More...

----------


## Dave A

I have just confirmed that there is still not one officially accredited rating agency as yet. So there is going to be strict enforcement - except there is still no-one accredited to carry out the rating as required by legislation?  :Confused:

----------


## I Robot

The Department of Trade and Industry (dti) establishes a       unique Black Economic Empowerment (BEE) information                      technology (IT) portal   

15 September 2008 

The Department of Trade and Industry (the dti) will conduct nationwide Black Economic Empowerment (BEE) IT Portal awareness workshops to provide guidance on how to access and interact with the portal. The free workshops will be held during October and November 2008. 

The workshops follow the successful establishment of the unprecedented BEE IT Portal-Public Accessible Central Database on 1 September 2008 and it is in line with the Codes of Good Practice for Broad-Based Black Economic Empowerment (B-BBEE), as gazetted in February 2007. 

The Codes of Good Practice highlighted the need for the dti to establish a publicly accessible central database that will house all Broad-Based Black Economic Empowerment (BBBEE) related information. 

Departmental Director of BEE, Takalani Tambani, says this will enhance government's objective of monitoring and reporting the implementation progress of BBBEE across the entire economy. 

He says the publicly accessible central database will benefit the public amongst others in the following aspects: 

* Promoting business opportunities
* Reporting fronting
* Management of flow of information to the dti
* Interactive self assessment tool (BEE calculator) that will assist companies to gauge their BEE performance. 

Tambani added that the benefits of the BBBEE IT Portal also include the simplifying compliance and minimising the costs associated with BBBEE, standardisation of the reporting process by the stakeholders on BBBEE, and encouragement of broad participation by all entities in BBBEE. 

The system is being phased-in gradually with more BBBEE verified information expected to come from verification agencies, state owned entities, general public, and sector charter councils as required by the Codes and the Verification Manual gazetted. 

"Different stakeholders, including procurement practitioners, verification players, chambers of commerce, and general public, will be invited to these workshops," said Tambani 

The public can access the website through the dti's website (http://www.thedti.gov.za) under BBBEE link, or http://bee.thedti.gov.za 

More...

----------


## Dave A

Guys and gals - you have just *got* to visit that bee.thedti site. *Especially* if your annual turnover is under R5 million per annum.

Just start the self-assessment process and enjoy  :Big Grin:

----------

