News

Dear Valued Client, Please see a circular providing clarity to Accounting Officers and Authorities on the acceptance of sworn affidavits as required in terms of CoGP (2013). Also for your reading are the King lll Practice Notes to give guidelines on how best to incorporate into strategy, and report on B-BBEE in such a way that will give stakeholders a sufficient way to comprehend the compliance level of an entity. In July we provided a formula for calculating the Employment Equity section of the new Management Control Code, which also affects the Skills Development calculations. We have now finalised our…
%PM, %01 %532 %2015 %13:%Sep

The Most Empowered Companies 2015

Dear Valued Client, Published by Independent Newspapers’ Business Report on the 30th of August, the top 10 Most Empowered Companies were announced for 2015. The full report is due on the 6th of September and will list the top 100 Most Empowered Companies for 2015.Empowerdex has undertaken this research and produced the results for more than ten years, on an annual basis. Intellidex produced the editorial and analytical reports, for this edition. See the attached document providing the details of the results as well as a write up on the awards ceremony that was held on the 27th of August…
Dear Valued Client,It’s been two months since all the updates and up-heave in the B-BBEE Codes of Good Practice and for the most part, it seems the dust is settling. The Department of Trade and Industry issued the draft Amended Tourism B-BBEE Sector Codes for public comment on the 30th of June 2015. Interested parties have 60 days to submit their comments from the date of this publication for the attention of Julia Nzimande and Mologadi Leshiba: tourismsectorcodenthedtimov.za. In May we provided a formula for calculating the Employment Equity section of the new Management and Control Code, which also affects…
%PM, %18 %525 %2015 %13:%May

Updated Clarification Notice

Dear Valued Clients, Further to our communication last week regarding the impending retraction of the Broad Based Scheme and Employee Share ownership Scheme clause, please find the updated Clarification Notice, signed on the 15th May, with all the other clauses except for that one. We would like to caution clients entering into new BEE transactions to keep the old notice in mind as part of your risk–mitigating process, as we do expect it to be re-introduced, in some form or another, in future. If you have any questions regarding this, please contact your nearest Empowerdex office. The Empowerdex team
Dear Valued Client, Last week we sent you correspondence introducing you to our new online BEE introductory training course that we at Empowerdex have launched, however we've since realised that some people had trouble clicking through to view the course's details. So as to not hinder you any longer, here’s the click through for you and website link: http://empowerdex.cicorporate.ac.za. If you have any further queries, please email This email address is being protected from spambots. You need JavaScript enabled to view it.. The Empowerdex Team
%PM, %13 %519 %2015 %13:%May

Two more gazettes and further clarity

Dear Valued Client, We have seen much drama in the week after the effective date of the 2013 code of good practice, that we thought it prudent to clarify the clarification note further, and provide additional resources for you, based on information at our disposal as of today. From the Clarification Note: The Broad Based Schemes and Employee Share Ownership Schemes clarification has been withdrawn. The Minister will make a decision as to how to address the issues with these schemes once the task teams has tabled its recommendations. Current Schemes will not be affected, only future schemes – according…
%PM, %07 %518 %2015 %13:%May

A simple solution to the new codes

Dear Valued clients, Please see attached communication from the DTI that provides some leeway and clarity on some issues that have been outstanding as we entered into the new phase of applying the 2013 Codes of Good Practice. Important points to note: If your financial year end is before 30 April 2015 and you have not yet completed your verification, you may continue to obtain a verification using the 2007 Codes requirements. However, if your financial year end is after 01 May 2015, you will be required to use the 2013 Codes requirements, unless the Sector Codes are applicable to…
%PM, %28 %459 %2015 %12:%Apr

Sector Codes - a note from Empowerdex

Dear Valued Client, With the implementation date of the codes just around the corner, we know and understand your frustrations about lack of clarity in the codes, and in particular about the status of the sector codes. There are differing schools of thought in terms of what is likely to happen after the 1st of May in terms for those companies belonging to sectors that have a sector code in place. One opinion is that since the sector codes enjoy the same legal status as the 2007 codes, they should stand until amended. Another school of thought says that since…
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