Quote Originally Posted by Greig Whitton View Post
Please reference the local legislation that COMPELS all South African private enterprises to allocate a specific portion of ownership to particular race groups.
With respect to the new amended codes, If you want to get business from corporates so that you can earn a living, one will have to follow the new amended codes, copied from "EconoBEE
011 483 1190".
The majority of companies will reach a maximum of 4 points if not fully black owned owned with full senior black managers.
So business will get more and more difficult if you are not with in the new amended BEE codes. In fact most business who had high scores before the new codes will be very surprised to note that they will have dropped down by a number of points under the new amended codes.

Code 100 -Ownership:Points available: 25
–Awards points for black participants in the ownership of the enterprise.
–Takes into account:
–Voting Rights
–Economic Interest
–More points for:
–Black women, ESOPS, broad-based schemes
–Is a priority element –drop one level if insufficient ownership

Do you need Black Ownership?
–Are your customers asking you if you have black ownership?
–Do you supply the mining sector?
–Will Black Ownership result in more business?
–Do you need additional finance to grow your business?
–Do you need additional management capabilities?
–Do you need access to government business?

How much Ownership?
–10% reaches the subminimum on the priority element status
–25+1 vote is the Amended Codes target
–30% black female will assist your customers through the procurement element
–51% black people will assist your customers through the procurement element