In the past couple of months, not much has changed in the BEE Industry. A few of the main topics which were discussed at the State of the Nation Address are as follows:
The president's comments regarding transformation and BEE in the State of the Nation Address.
The active involvement of the B-BEE Commission in the Sector Codes.
The current parliamentary investigation into the transformation within the Financial service sector.
We can now expect departments to focus on radical transformation within the relevant industry sectors. We can expect the BEE Codes of Good Practice and the requirements to be in every strategy and legislative programme.
How is Government going to promote radical transformation? The answer to this, in my opinion, is through Reporting Obligations or Licensing requirements. Reporting requirements such as the outcome of the entities' BEE result, to be present within the entities' annual report. Or Licensing, referring to Liquor Licenses, Tourism and Exporting Licensing, to name a few.
We believe the Industry will be regulated between the Department of Trade and Industry (DTI), Relevant Sector Charter Councils, The BEE Commissioner and the BEE Accredited Agencies.
What is Radical Transformation? That can be summed in a couple of points and I would say in this specific order.
2. Skills Development
4. Enterprise Development
5. Supplier Development.
The above points are what they call Priority Elements.
For further discussions on these elements, please contact email@example.com or contact Moore Stephens Cape Town BEE Services on 021 525 8600.