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WITH 45 DAYS TO GO HERE IS YOUR SOLUTION

45

By now you are well aware of the 30 April 2015 cutoff date under the Old B-BBEE codes. If you don’t have everything in place to be verified before this date there is a way out.

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MINING INDUSTRY NEEDS 26% BLACK OWNERSHIP NOT 51%

The Minister of Mineral Resources Ngoako Ramathlodi clarified on national television last week that 26% Black Ownership is required in South Africa to obtain a Mining License. In addition to this efforts need to be made to procure at least 40% of goods and services from Black Owned Suppliers that are companies with at least 51% Black Shareholding.

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Black Ownership Opportunities

The Revised Codes of Good Practice introduces Black Ownership as a priority element when these codes become effective on 1 May 2015. In practical terms this means that if you don’t comply with the minimum 40% of the target points realized your level that you are rated  at will be dropped by one level.

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