http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 16.47Change: 0.05
R/$ = 14.25Change: 0.10
Au 1292.96 $/ozChange: -0.93
Pt 1083.00 $/ozChange: -0.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters About Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Feb 17, 2012

BEE a priority for companies, survey finds

Back
KPMG partner and restructuring advisory head Warren Watkins discusses the 2011 BEE survey results. Camerawork: Nicholas Boyd. Editing: Darlene Creamer.
 
 
 
Africa|Business|Measurement|Africa|Measurement
Africa|Business|Measurement|Africa|
africa-company|business|measurement-company|africa|measurement



Advisory firm KPMG’s 2011 and sixth yearly ‘Black Economic Empower- ment’ survey results have shown a significant improvement in participating companies’ scorecards.

Speaking at the survey results presentation, in Parktown, Johannesburg, early this month, KPMG CEO Moses Kgosana said the business of broad-based black economic empowerment (BBBEE) was imperative for the organisation.

“I am delighted that BEE has become a boardroom topic and that organisations that were only focusing on quick fixes now realise that achieving BEE credentials is an ongoing process,” he explained.

Kgosana said organisations had, over time, come to the realisation that it was no longer about acting on BBBEE requirements, but about ensuring they had poli- cies and evidence of BEE-related work, such as skills development programmes, besides others.

KPMG partner and restructuring advisory head Warren Watkins highlighted the fact that BEE ratings for business entities averaged about 67% for 2011, compared with 55.03% in 2010.

He argued that this increasing invest- ment in BBBEE was encouraging, given the tough economic climate in South Africa.

“On average, respondents have increased their efforts geared towards supporting small black-owned entities, as evidenced by the significant increase in enterprise development (ED) scores from 3 points in 2006 to 12.41 points in 2011. Average ED scores are now 80% of the stipulated target,” said Watkins.

Meanwhile, the survey established that elements of ownership and socio- economic development, indicated as focus areas in previous surveys, are now less of a priority among respondents, as these elements’ scores are within acceptable range levels.

A total of 43% of 2011 respondents, compared with 27% in 2010, indicated that they had set minimum preferential procurement target levels for their suppliers, while 69% of respondents indicated that BBBEE level-four supplier contributor status was the preferred target level set by respondent organisations, as procuring entities were then able to recognise 100% of their procurement spend from level four suppliers.

“The challenge remains for organisa- tions to keep ahead of BBBEE scorecard measurement and target changes, as four out of the seven elements’ measurement criteria are changing, owing to the pro- posed changes to the BBBEE Amendment Bill. “The changes are likely to have a negative impact on subsequent scorecard ratings,” said Watkins.

Kgosana noted that employment equity and skills development elements seem to be lagging.

Watkins concluded that, with the pro- posed changes to BBBEE law, implementation challenges will arise but, with proper consultation and working closely with transformation officers, companies could achieve the necessary points.

Edited by: Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
 
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Economy News
Mzwandile Masina
The Department of Trade and Industry (DTI) has invited companies to participate in a trade and investment mission to Ghana and Nigeria from August 8 to 12.   Companies in the agriculture and agroprocessing sectors, built environment professionals, automotive and...
Cabinet has approved the Industrial Policy Action Plan (Ipap) 2016/17 to 2018/19, which seeks to achieve a higher-impact industrial policy in difficult economic circumstances, including the difficulties faced by the domestic steel industry and the drought which has...
South Africa's trade balance swung to a R2.92-billion ($206.10million) surplus in March from a revised R1.27-billion deficit in February, the national revenue agency said on Friday. Exports were up by 6.3% to R96.13-billion on a month-on-month basis, while imports...
More
 
 
Latest News
Transnet announced on Monday the implementation of a series of governance, control and monitoring measures to ensure the Original Equipment Manufacturers (OEMs) meet the company’s stringent localisation obligations and supplier development commitments. Transnet...
South African Civil Aviation Authority (SACAA) on Sunday said it had lifted the suspension of SA Express’ Air Operator Certificate (AOC). “This means that the airline may, with immediate effect, resume operating their fleet of 26 aircraft,” said SACAA in a statement.
US Democratic presidential front-runner Hillary Clinton begins a two-day tour on Monday through rural, traditionally coal-reliant parts of the eastern Appalachian region where Republican rival Donald Trump's pro-coal, anti-trade message has resonated with...
More
 
 
Recent Research Reports
Automotive 2016: A review of South Africa's automotive sector (PDF Report)
Creamer Media’s Automotive 2016 Report provides an overview of South Africa’s automotive industry over the past 12 months. The report provides insight into local demand and production, vehicle imports and exports, investment and competitiveness in the sector, as well...
Energy Roundup – April 2016 (PDF Report)
The April 2016 roundup covers activities across South Africa for March 2016 and includes details of a North Gauteng High Court Judge’s dismissal of a court application to postpone the 9.4% electricity tariff increase, which the National Energy Regulator of South...
Electricity 2016: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2016 report provides an overview of South Africa’s electricity sector, focusing on State-owned power utility Eskom and independent power producers, electricity planning, transmission, distribution and the theft thereof, besides other issues.
Energy Roundup – March 2016 (PDF Report)
The March 2016 roundup covers activities across South Africa for February 2016 and includes details of the Department of Energy’s plans to announce the preferred bidders for the first tranche of the coal independent power producer procurement programme; the Council...
Steel 2016: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2016 Report examines South Africa’s steel industry over the past 12 months. The report provides insight into the global steel market and and particularly into South South Africa’s steel sector, including production and consumption, main...
Construction 2016: A review of South Africa's construction industry (PDF Report)
Creamer Media’s Construction 2016 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; key participants; local demand; geographic diversification; corporate activity; black economic...
 
 
 
 
 
This Week's Magazine
The two spent-fuel pools at Eskom’s 1 800 MW Koeberg nuclear power station, in the Western Cape, will be full by 2018, increasing the urgency on the State-owned utility to begin pursuing alternative storage options. Koeberg has, over the past 32 years, accumulated a...
South Africa lacks the skills necessary to implement the government’s plan to build 9.6 GWe of new nuclear energy capacity, warns nuclear-qualified Quality Strategies International CEO David Crawford. “Apart from the concern about the affordability of the programme,...
DOROS HADJIZENONOS The 700-series devices provide network security monitoring, app control, URL filtering, VPN security, antivirus, antispam, antibot, and advanced intrusion prevention and detection functionality
Cybersecurity multinational Check Point has released its latest 700-series cybersecurity systems for small businesses, which draw on its international threat intelligence to provide up-to-date cybersecurity, says Check Point South Africa country manager Doros...
Daimler Trucks and Buses Southern Africa (DTBSA) saw a marked slip in new-vehicle sales in 2015 compared with 2014, with sales dropping from 5 897 units to 5 300 units. The decline came as the South African new truck and bus market declined from 31 558 units in 2014...
Group of 20 (G-20) economies threatened to penalise havens that don’t share information on their banking clients after the leak of the Panama Papers provoked a global uproar over tax evasion. The G-20 will consider “defensive measures” against financial centers and...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $149 Close
Subscribe Now for $149