A new crowd-sourced discussion platform launched today with the aim of providing valuable insight into the finer workings of the revised Broad-Based Black Economic Empowerment Codes of Good Practice.
Codes Interpreter is an online platform aimed at companies, professionals, consultants, journalists and members of the public wishing to gain a deeper understanding of the revised B-BBEE Codes of Good Practice. The platform is populated with insight and comments from some of the country’s top transformation specialists.
Bruce Rowe, head of Mpowered Business Solutions, the developers of Codes Interpreter, says visitors can gain invaluable insight into the finer nuances of the new Codes. “Codes Interpreter enables you to tap into the collective knowledge of some of the country’s foremost experts on B-BBEE and gain insight into the potential impact of the new codes on the way you do business.”
To date, a number of top industry experts have provided their insights into specific areas of the revised codes, including Ownership, Management, Skills Development, Enterprise and Supplier Management, Socio-economic Development, and General matters. Some of the top comments to date include:
- On Ownership, Eric Ackroyd says: “”Black owned” is now defined as being 51% or more black owned. The current 2007 Codes define black owned as more than 50% black owned. This change impacts the following i) Application of Modified Flow Through; ii) Procurement from black owned suppliers; iii) Qualification of Enterprise Development Beneficiaries.”
- On Enterprise and Supplier Development, Robin Woolley says: “The limiting of early payments to 1.5 points is a good thing – limiting abuse, but supplier development beneficiaries being 51% black owned or 51% black woman owned is interesting as many companies have structured to the old definition of black owned being 50% plus one vote – ie often 50,1%”
- Under General, Leila Moonda says: “The revised Codes do not include a QSE scorecard, even though the Codes make numerous reference to a QSE scorecard. It is not clear whether the DTI intend to issue a QSE scorecard or whether QSE’s are to be measured using the Generic scorecard.”
- Under Management, Michael Craies says: “After investigation of this report it was found that there are compliance targets based on national as well as provincial statistics. It is my interpretation that the verification agency should use the provincial compliance targets when verifying a measured entity located in a specific region and the national compliance targets when rating a measured entity (like a holding company) with branches located country wide.”
“We’ve also introduced a Knowledge Centre where our contributor community can upload their own documents with specific insights into the new codes. We are hopeful that this will turn into the go-to resource for anyone wishing to understand or adapt to the revised Broad-Based Black Economic Empowerment Codes of Good Practice,” explains Rowe.
To follow the discussion around the revised B-BBEE Codes of Good Practice, please visit the Codes Interpreter website on www.codesinterpreter.co.za