B-BBEE Compliance
The Wot-if? Trust runs programmes and initiatives that comply with the broad-based black economic empowerment act (B-BBEE Act) and the B-BBEE Codes of Good Practice. Supporting our programmes will ensure you points on your B-BBEE scorecard in the area of Socio-Economic Development, as well as Enterprise and Supplier Development. All activities meet our mandate, which is to provide programmes and resources that connect our participants to opportunities to earn sustainable income. The result is donors who are not only in it for B-BBEE points, but who can witness the difference that their contributions make.
What is B-BBEE?
In order to address the legacy of apartheid and promote the economic participation of previously disadvantaged people in the economy, South Africa has a piece of legislation called the Broad-Based Black Economic Empowerment Act (BEE or B-BBEE Act). Implementation is guided by a framework called the B-BBEE Codes of Good Practice, which define how companies can gain BEE Points on the BEE Scorecard. A good score makes your organisation attractive to procure from and will allow your customers to claim B-BBEE Points on their scorecard. A healthy score also shows your intent, as an organisation, to participate in real economic transformation in South Africa.
There are 5 pillars of B-BBEE that earn you points on the B-BBEE Scorecard
- Ownership – this measures the percentage of shares in the business that are owned by black people
- Management Control – the directors, top management and the employees in the business
- Skills development – this measures the amount of money spent on training of black employees
- Enterprise and Supplier development – Procurement (your suppliers and their scores) and Development – your spend on helping other black owned enterprises grow, both suppliers to you and non-suppliers.
- Socio-Economic Development (SED) – your contribution to charitable organisations or social enterprises
We run B-BBEE compliant programmes on your behalf
The Wot-if? Trust runs a number of programmes that comply with Socio-Economic Development (SED) and Enterprise and Supplier development (ESD) requirements. We partner with like-minded organisations who want to invest in social impact. Funds are channeled into programmes and qualifying small enterprises that are compliant with the B-BBEE Codes. Sustainable, substantial and meaningful development is what we care about! The work we do ensures that you earn maximum points on your BEE scorecard while empowering township entrepreneurs and enabling community development.
I want to invest in…
ICT and MAC charters
In certain industries, where transformation needs to be accelerated, Sector Charters have been developed. One example is the ICT Charter, which has very specific requirements for ensuring B-BBEE compliance in the areas of Socio-Economic – and Enterprise and Supplier Development. Companies who fall into the ICT sector would need to contribute to programmes that benefit black people and black-owned enterprises in the ICT Value Chain. The MAC Charter addresses how companies who fall within Media, Advertising and Communication would get BEE points. Wot-if runs a Tech and Creatives Programme at the eHUB in Diepsloot that offer companies in these sectors long-term and sustainable initiatives that will give them BEE points and ensure real and meaningful transformation that results in enhanced livelihoods.