EMPOWERING SUPPLIER IMPLEMENTATION DELAYED

The department of Trade and Industry issued Notice 708 of 2016 below on the status of Empowering Suppliers:

 I, Dr. Rob Davies, Minister of Trade and Industry, by virtue of the powers vested in me in terms of section 14 (2) of the Broad -Based Black Economic Empowerment Act, 2003 (B -BBEE Act No. 53 of 2003) as amended by B -BBEE Amendment Act No.46 of 2013; issue the following gazette notice regarding the application of the Empowering Supplier Status:

 (a) The recognition of empowering supplier status for the inaugural year of the Amended Codes of Good Practice, as determined by Paragraph 1(d) of Notice 444 of 2015, is hereby extended until further determination. All valid B -BBEE Verification Certificates, Exempt Micro Enterprise and relevant Qualifying Small Enterprise Sworn Affidavits and CIPC Certificates issued on or prior to 30 April 2016 will be automatically recognized as an Empowering Supplier until the date of expiry of that B -BBEE Verification Certificate, Sworn Affidavit or CIPC Certificate.

(b) Any Entity measured on or after 1 May 2016 will automatically be recognized as an Empowering Supplier until a further notice is issued.

Clearly the notice does not say Empowering Supplier requirements  will be scrapped and it seems if they are giving industry more time to prepare for what they have in mind or may make some amendments to the 5 criteria.

We will keep you informed as this puzzle unfolds.

Our verification service  catered for from 1 January 2017 would  be through the  SANAS accredited Verification Agency called Platinum Verifications.

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