BEE
Introduction
The final Codes of Good Practices under the Broad-Based Black Economic Empowerment Act (BEE Act) of 2003 signalled a significant step in the way businesses will operate in the future.
Although BEE can be seen as a process, it will be a business imperative since the Codes are written into Law
BEE Compliance
MIP Process Technologies (Pty) Ltd currently falls in the category of a large enterprise (LE). This is an enterprise with annual total revenue of more than R50 million.
BEE Regulation
The only organizations currently exempted are micro enterprises whose annual turnover is less than R10 million.
MIP BEE Certificates ( Downloadable)
This qualifies MIP Process Technologies (Pty) Limited as a Level 1 contributor and equate to 135% compliance. This allows our customers to claim 110% of your procurement spent with MIP Process Technologies, against their own B-BBEE targets.
|
BEE Status |
Qualification |
Compliance Level |
|
Level One Contributor |
≥ 100 points |
135% |
|
Level Two Contributor |
≥ 85 but ≤ 100 points |
125% |
|
Level Three Contributor |
≥ 75 but ≤ 85 points |
110% |
|
Level Four Contributor |
≥ 65 but ≤ 75 points |
100% |
|
Level Five Contributor |
≥ 55 but ≤ 65 points |
80% |
|
Level Six Contributor |
≥ 45 but ≤ 55 points |
60% |
|
Level Seven Contributor |
≥ 40 but ≤ 45 points |
50% |
|
Level Eight Contributor |
≥ 30 but ≤ 40 points |
10% |
|
Non-Compliant Contributor |
< 30 points |
0% |
Source:
“BBBEE Act and Codes Explained”
Available at: www.werksman.com