16 November 2012

South Africa: The Revised BEE Codes of Good Practice Are Not Intended to Make Things Difficult

press release

The Department of Trade and Industry has noted concerns regarding Corporate Social Responsibility Investment (CSI) and the proposed amendments to the Broad-Based Black Economic Empowerment (B-BBEE) codes of good practice.

The draft codes have elicited widespread support but the department has received feedback expressing alarm that some charitable organisations and beneficiaries will lose benefits associated with the current version of the BEE Codes. This is not true. The proposed socio economic development (SED) code encourages charitable organisations who receive CSI funding as a result of BEE policy, to ensure that their beneficiaries are representative of South African Society.

the dti therefore wishes to reassure all parties concerned that the intention of the proposed Code is not to raise the bar or make it more difficult for current CSI beneficiaries to score BEE points.

It is however evident from the comments received that the current drafting of the SED Code has led to incorrect perceptions that it is the intention to raise the bar or to prejudice certain individuals. This is not the intention and will be explicitly clarified in the final draft.

Copyright © 2012 South African Government. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.