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BBBEE STRATEGY

BBBEE STRATEGY. OBJECTIVES OF BEE. OBJECTIVES OF BEE ..... (cont). To promote economic transformation to enable meaningful participation of black people in the economy To achieve change in racial composition of ownership and management structures and in skilled occupations

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BBBEE STRATEGY

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  1. BBBEE STRATEGY

  2. OBJECTIVES OF BEE

  3. OBJECTIVES OF BEE ..... (cont) • To promote economic transformation to enable meaningful participation of black people in the economy • To achieve change in racial composition of ownership and management structures and in skilled occupations • Increase ownership, skills training of black woman • Empower rural and local communities • Finance for black economic empowerment • Promoting investment programmes that will lead to sustainable participation and development by black people

  4. BEE SCORECARD

  5. BEE SCORECARD consistsof: • OWNERSHIP (20) ........... Currently (14 pts) • MANAGEMENT CONTROL (10) currently ( • EMPLOYMENT EQUITY (15) • SKILLS DEVELOPMENT (15) • PREFERENTIAL PROCUREMENT (20) • ENTERPRISE DEVELOPMENT (15) • SOCIO-ECONOMIC DEVELOPMENT (05)

  6. OWNERSHIP

  7. Ownership ......(cont) • 25% + 1 of total ownership must be black people • Black people must have economic interest and voting rights in Tau Mining

  8. MANAGEMENT AND CONTROL

  9. MANAGEMENT AND CONTROL ..... (CONT) • 50% OF TOP MANAGEMENT MUST BE BLACK EMPLOYEES

  10. EMPLOYMENT EQUITY

  11. EMPLOYMENT EQUITY ..... (CONT) • 43% OF SENIOR MANAGEMENT MUST BE BLACK EMPLOYEES • 63% OF MIDDLE MANAGEMENT MUST BE BLACK EMPLOYEES • 68% OF JUNIOR MANAGEMENT MUST BE BLACK EMPLOYEES

  12. SKILLS DEVELOPMENT

  13. SKILLS DEVELOPMENT ..... (CONT) • 3% OF TOTAL WAGE BILL MUST BE SPEND ON TRAINING FOR BLACK EMPLOYEES • 15% OF THE 3% MUST BE INHOUSE TRAINING (INL: FRIDAY TRAINING; ON THE JOB TRAINING) • 85% OF THE 3% MUST BE OUTSOUCRED TRAINING WITH AN ACCREDITED PROVIDER • TRAINING MUST BE JOB RELATED; EMPLOYEES MUST COMPLETE THE TRAINING SUCCESSFUL FOR TAU TO SCORE ANY POINTS

  14. PROCUREMENT

  15. PROCUREMENT ..... (CONT) • 50% OF ALL PROCUREMENT MUST BE DONE WITH COMPANIES WHO ARE BEE COMPLIANT. • THE AMOUNT WHICH CAN BE CLAIMED BACK, DEPENDS ON SUPPLIER’S BEE RATING

  16. BLACK ENTERPRISE DEVELOPMENT

  17. BLACK ENTERPRISE DEVELOPMENT ..... (CONT) • 3% OF NETT PROFIT AFTER TAX MUST BE GIVEN TO A BLACK OWNED COMPANY TO HELP WITH THE START UP. • CAN BE BY DONATION; INTEREST FREE LOAN; TRAINING OF STAFF MEMBERS; DISCOUNT ON PRODUCTS

  18. SOCIO ECONOMC DEVELOPMENT

  19. SOCIO ECONOMC DEVELOPMENT ..... (CONT) • 1% OF NETT PROFIT AFTER TAX MUST BE DONTATED TO AN ORGANISATION (EXCEPT A CHURCH) • 75% OF MONEY DONTATED MUST BE USED FOR BLACK PEOPLE • COMPANIES MUST GIVE TAU A SECTION 18 LETTER TO PROOF THAT THEY ARE BBBEE COMPLIANT / THEY MUST GIVE US PROOF AND A LETTER STATING THAT THEY WILL USE THE MONEY FOR BLACK PEOPLE. (i.e.: KANSA)

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