About Our Services
Why the Codex Scorecard?
By obtaining BEE recognition you will have the ability:
- to build sustainable business relations within South Africa
- to become a preferred supplier in government's and companies’ vendor lists
- satisfy your customers' needs and support their own scorecard.
How does it work?
Black Economic Empowerment brings many advantages to an organisation: not only procuring future business deals but also preserving existing business. To understand and plan for the implications that BEE may have on your company's ability to trade in the future South African market place is vitally important.
The Codes of Good Practice issued in terms of Section 9(1) of the Broad-Based Black Economic Empowerment Act, 2003 (Act 53 of 2003), gazetted on 9 February 2007, govern the criteria by which an entity's BEE status is measured; ensuring a thorough and fair examination thereof. The Codes are based on seven elements, namely Ownership, Management Control, Employment Equity, Skills Development, Preferential Procurement, Enterprise Development, and Socio-Economic Development.
There are three types of scorecards used to measure an entity's BEE status, and the relevant scorecard is determined by the entity's turnover. These are:
- an Exempt Micro Enterprise (entity with an annual turnover of less than R5 million) is accorded an automatic Level 4 status. However, if the entity is 50% or more black-owned, the entity will be accorded a Level 3 status.
- a Qualifying Small Enterprise (entity with an annual turnover of more than R5 million but less than R35 million) is measured on any four of the above seven elements.
- a Generic Enterprise (entity with an annual turnover of more than R35 million) is measured on all seven of the above elements.
