Skills Development Expenditure as Priority Element on the B-BBEE Scorecard
Skills Development as B-BBEE Element The Skills Development Expenditure element emphasizes the importance of enhancing the skills and capabilities of black individuals (previously disadvantaged groups in South Africa, including Black Africans, Coloureds, Indians, and others) through training and development initiatives The Skills Development Expenditure element typically involves the following components: Companies that invest […]
Peace of Mind Client Experience – Our Magic Sauce!
The Pervasiveness of Shocking Quality We have been desensitised as South Africans to accept mediocrity of products and service delivery. The pervasiveness of this mediocrity stretches from the highest levels of government to having a clean wineglass in a restaurant! The common denominator underlying this reality is that we as clients and customers […]
Bursaries as SDE Instrument of the B-BBEE Scorecard
Bursaries is a key component of the Skills Development Expenditure (“SDE”) element within the Broad-Based Black Economic Empowerment (B-BBEE) scorecard in South Africa. B-BBEE is a government-driven initiative aimed at promoting economic transformation and empowering historically disadvantaged individuals in the country. The Skills Development Expenditure element forms an integral part of the B-BBEE scorecard, focusing […]
The Winds of Change are blowing over the Skills Development Landscape in SA
The British Prime Minister Harold Macmillan made a speech to the Parliament of South Africa on 3 February 1960 in Cape Town, in which he remarked that “The winds of change are blowing in Africa”. We are at such a point again in the world of Skills Development in South Africa. There is a huge […]
THE ELUSIVE SCORECARD ABSORPTION POINTS!
Absorption falls under the Skills Development Scorecard as indicated in paragraph 2.1.3 under Bonus Points “Number of ‘Black’ People absorbed by the Measured and Industry Entity at the end of the Internship, Learnership and Apprenticeship programme under paragraph 2.1.2.1. Absorption recognition applies to Black people who, upon completion of a Learnership, Internship or Apprenticeship, secure […]
It’s Half-Year: How is you B-BBEE Skills Spend Going?
Many international entities have December as their year-end, whereas South African companies typically have February as their year-end. This means that an entity with December as year-end, who wishes to do a BEE scorecard rating based on their 2022 financials, has only a few months left to make any contributions or payments to meet targets, […]
For Youth Day – Addressing Black Youth Unemployment in South Africa: The Power of Skills Development and its Impact on the B-BBEE Scorecard
South Africa grapples with a Black youth unemployment rate of job-seekers between 15 and 24 years old, pitching at 62.1% in the first quarter of 2023! That translates into approximately 18 million Black youths who don’t have any form of income. The magnitude of this challenge calls for urgent measures, and one promising solution lies […]
Massive Impact: The QCTO and B-BBEE Scorecards!
It is the new dawn: the gate on SETA qualifications is closing. The Minister of Higher Education recently confirmed that the transfer of the ownership of qualifications away from the SETAs to the Quality Council for Trades and Occupations, (also known as the QCTO), will take place in June 2023, with no extension being given […]
The Skills Development Conundrum in South Africa
To address the skills shortage and unemployment in South Africa, the government has implemented Acts, policies, and tools. Skills Development Expenditure is a key element of the B-BBEE Scorecard, with a minimum 40% contribution required for the best BEE level. If a company fails to reach 40%, it drops one level on the scorecard. However, […]
What is Skills Development Expenditure in South Africa?
Skills Development is a priority element on the Skills Development element of the B-BBEE Codes and Scorecard. “Priority element” means that, if the measured entity fails to comply, it will drop one level on its scorecard. The Skills Development Scorecard allocates points for: The Skills DevelopmentScorecard constitutes 25 points towards the B-BBEE Scorecard. Skills Development […]