Enterprise development can help firms meet empowerment obligations
South African companies cannot continue with ‘business as usual’ practices in terms of meeting black economic-empowerment (BEE) targets, as it is no longer just a “tick-box exercise”, panellists at the Inyosi Enterprise and Supplier Development BEE debate said recently.
Panellist Leanne Livingstone noted that, under the old legislation, it was “actually very easy” to accumulate a good BEE score.
This changed in 2012, with the draft and, in 2013, with the final revision of the new BEE Codes of Good Practice. “We are now only starting to see the actual impact of these new codes,” said Livingstone.
“You have to look at the future of your business. If you are going to implement the same activities you did last year, or view BEE in the same way as you did previously, you will not be successful,” she noted.
Further, Livingstone pointed out, companies were now starting to implement sustainable transformation activities. “Ownership is not the most important aspect of the codes; the scorecard only requires a minimum of 10%. Enterprise and supplier development are a far better [means of meeting] these requirements.”
Inyosi manager Evan Jones noted that the enabling legislation should provide a tailwind, but that it was necessary to bring the companies in need of meeting the 40% procurement goals closer to smaller businesses.
Many companies claim that, while they are willing to invest in local procurement, there are not enough local manufacturers and suppliers to match that.
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