| Letter from our MD |
|
Welcome to the third quarter edition of the Empowerdex newsletter. As you know, from a verification point of view, or job is to verify your B-BBEE initiatives so that your score reflects your initiatives. The only way your score may not represent your initiatives is if we have insufficient information to verify.
|
 |
With this in mind, we have come up with some suggestions to assist you with your procurement score under ‘Increase your preferential procurement score'.
As is our nature, we are always looking at ways to empower you our clients. Therefore, we would like to introduce you to our associate company, Assuredex, which is run by Kopano Xaba, CA (SA), and provides non-financial assurance services.
Our Questions and Answers sections covers those grey areas that we know you face on a regular basis, and provides some scenarios that may assist you in your particular situation, or give you an idea of how to address some of these grey areas. You will find an interesting read under Mzansi account for shareholders, that first appeared in Business Day. And of course, if you have specific queries you’d like to run past us, we would be more than happy to assist you.
We have all our regular features, such as Empowerdex in the news, and the featured NGO of the month. This month we also highlight the NEF Enterprise Development Fund, which we think may be useful to you.
We hope that this quarter’s newsletter is informative for you, and as always, we welcome your suggestion on how to make it more useful to you.
Until next time, stay blessed.
Lerato Ratsoma
Managing Director
|
| |
| Empowerdex in the News |
Business Day Empowerment worth knowing: Prove it (click here to read some input from Lerato and some sound guidance).
Procurement regulations will put end to 'fronting'
http://www.businessday.co.za/articles/Content.aspx?id=145488
PwC’s ongoing transformation empowers people
http://www.pwc.com/za/en/press-room/pwc-ongoing-transformation-empowers-people.jhtml
Bytes Document Solutions continues progress in BBBEE stakes
http://www.itweb.co.za/office/bytes/PressRelease.php?StoryID=220259 |
| |
| Featured NGO: Nazareth House Cape Town |
 |
Nazareth House Cape Town was established in 1880 when a small group of Sisters of Nazareth arrived, at the request of the Bishop of Cape Town. Some 130 years later, Nazareth House continues to provide residential care and nurturing of exceptional quality for abandoned, orphaned children living with HIV and other |
mental or physical challenges as well as the very frail, needy aged. Over the years Nazareth House has responded dynamically and effectively to the needs of the most vulnerable members of society. In May 2003 Nazareth House, opened its doors to provide specialist care and treatment for destitute adults living with HIV and other life-threatening illnesses. Read more... |
| |
| Erratum: Please note that in our previous newsletter, unfortunately the incorrect attachment was sent with the research document titled: "Ownership cannot be the only aspect of transformation".Please see the corrected document here. |
|
| Increase your Preferential Procurement score |
|
As a client who is dedicated to transformation, we imagine it is your intention to conduct business with partners that share your vision towards Broad Based Black Economic Empowerment and would see it as a good strategic principle to implement a Procurement Policy within your company, where preference will be given to suppliers with a Level 4 (A) Bee recognition and higher.
In our dealings with many of our clients, it has become apparent that there are still a number of their key suppliers who do not have a BEE scorecard for various reasons; (read more)
|
| Questions and Answers |
We wish to provide any extra bit of assistance that we can; read the 'Questions and Answers' that you our clients have put to us.
1) Question: Measurement Period (Financial Period v.s any 12 months Period).
A measured entity wishes to be verified outside its financial period; the measured entity (now a QSE) was an EME and it is now going to be verified as a QSE. Read more
2) Question: Scenario: A measured entity donates access stock to a mediator/facilitator, and in turn the facilitator sells those to a qualifying Enterprise Development beneficiary; Read more
3) Question: ME being a majority shareholder in the ED beneficiary. A measured entity holds 70% equity in an entity they wish to claim as an ED beneficiary. Read more |
| |
|
Introducing Assuredex
|
 |
Throughout the years, we at Empowerdex have mastered the art of |
measuring economic opportunities and risks using the BEE scorecard. 6000 ratings later, we are ranked as the No 1 Verification Agency in SA. Our assurance methodology has proven to be sustainable. With BEE forming a significant part of sustainability reporting, we have grown our service offering.
Introducing Assuredex, in association with Empowerdex. Services include: (click here to read more)
|
| |
| NEF Enterprise Development Fund |
 |
One of the most practical ways of meeting your BB-BEE requirements |
is by using your company’s existing resources to help black-owned enterprises become more effective. It is also one of the easiest ways to. But there’s a lot to know. Which is why the NEF is inviting all companies who want an effective Enterprise Development solution to contact us. Don’t let Enterprise Development remain a missed opportunity. Read more
Please note that this fund closes end of September 2011. |
| |
| Mzansi account for shareholders |
|
When the Financial Services Charter was negotiated stockbrokers kept their heads down, but a chance to widen public participation was lost. THIS is a lament for a lost opportunity. Eight years ago when the Financial Services Charter was negotiated, the attention was on banks and insurers. Stockbrokers kept their heads down. By staying out of the limelight they avoided onerous conditions. But a chance to widen direct public participation in the JSE was lost. Read more...
Written by Stuart Theobald and first published in Business Day.
|
|