the dti has announced that Cabinet has approved Phase 2 of the Codes of Good Practice on broad-based black economic empowerment (B-BBEE). It deals with the scorecard and its elements: employment equity, skills development, preferential procurement, enterprise development, socio-economic development, qualifying small enterprises as well as the treatment of multinationals.
This will enable the Minister of Trade and Industry to gazette Phase 1 and 2 of the Codes of Good Practice early next year as well as gazette sector transformation charters for black economic empowerment.
Sectors will determine their own thresholds for exempted and qualifying enterprises, but the codes set a generic range of R5m to R35m for qualifying small enterprises. The full details of the contents of the codes will be released publicly next week and the final gazetted document of the codes will be made available early in 2007.
Cabinet endorsed Phase 1 of the codes in October 2005. These dealt with the conceptual framework, the verification agencies, sector transformation charters, ownership, the recognition of the sale of assets and management.
from DTI here