Simplification of BEE Codes of Good Practice
Posted 16 July 2006

The BusinessHerald has reported that Trade and Industry Minister, Mandisi Mpahlwa, announced that the elements comprising the codes would be reduced in a bid to minimise the effect on the economy from having to implement the codes and to make compliance easier. His Department hopes to present the revised codes to the Cabinet for approval next month.

Mpahlwa said that the threshold by which companies were deemed to be qualifying or exempted small enterprise would be revised upward, as the current threshold did not encompass many of the recipients that the codes intended to benefit. The threshold will be based on turnover only as opposed to turnover and the number of employees.

Business Unity SA welcomed the update on progress towards finilising the codes and said that business realises that there is no alternative to economic transformation.

BusinessHerald, 13 July 2006, J Barnard