When planning your B-BBEE strategy, your first step should always be to align your strategy with the objectives of the B-BBEE Act. Using the Amended Codes of Good Practice (or your sector-specific charter), will guide your way on allowable contributions, how to score points and what those points will mean for your business.
While the act and Amended Codes of Good Practice is enough to implement a solid B-BBEE strategy, you can take your planning one step further by consulting the B-BBEE Verification Manual (Government Gazette No. 31255, 18 July 2008). This document dictates certain aspects of the rating process and can give you a boost in understanding why your rating agency is requesting certain documents. This is the guidance document that all verification agencies follow when requesting supporting evidence for your B-BBEE Scorecard, and the reason for this being an extensive list.
You can find the latest gazetted verification manual here: http://www.thedtic.gov.za/the-b-bbee-verification-manual/
Over the next few weeks, follow our upcoming series to take a deep-dive into each element of the verification manual and how to better prepare for your annual rating.
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