BBBEE is a government mandated tool for unlocking funds for empowering broad based community upliftment. At its’ best, BBBEE is utilised to help many who have been disadvantaged by the legacy of apartheid’s systems and inequitable educational practices. The BBBEE scorecard offers 7 different aspects for unlocking points for your company. A brief overview of the 7 pillars of BBBEE is:
Ownership of the company
Management Control
Employment Equity
Skills Development
Preferential Procurement
Enterprise development
Socio-Economic Development
The benefits of utilising the BEE scorecard:
Favourable scores on the BBBEE scorecard open the door for many opportunities:
to interact with government on tender procedures;
to converse with like-minded companies who are in line with scorecarding requirements
and importantly, the BBBEE scorecard offers opportunities to make a difference to the sustainable economic landscape in South Africa, which is beneficial to all.
Some possible funding scenarios
The scorecard measures three core components of BEE and there are scenarios that need consideration in all three:
Direct empowerment through ownership and management control,
Individual empowerment through employment equity and skills development,
Indirect empowerment through preferential procurement, enterprise development and socioeconomic development.
Please note this page is currently being updated.
Line of sight – AACAE receives dividends on behalf of Black students in bursaries, assets and programs that are to their benefit
Line of sight – AACAE receives tuition fees for black students who are employed by the engineering company. AACAE develops other curriculum that contributes to maturing students aligned to engineering industry needs.
Line of sight – No direct benefit to AACAE unless the money for enterprise development is paid to AACAE for NVC training and ongoing incubation of the business
