About Black Economic Empowerment Scorecards

Broad-based Black Economic Empowerment (Act 53 of 2003) does not refer only to ownership, but also human resources development, indirect empowerment and corporate social investment. The seven itemised categories are listed below for you.

The established framework is intended to include a greater majority in the ownership of productive assets and the possession of advanced skills, so that South Africa’s economy can perform to its potential. In effect, 'a rising tide raises all ships'.

Phase 2 of the codes was issued in December 2005. Final legislation was gazetted in February 2007.

Although you may not prospect directly for government or corporate business, your own customers may and thus need a rating from you for their final score in preferential procurement. The seven areas of empowerment measurement are:

• Ownership
• Management
• Employment Equity
• Skills Development
• Preferential Procurement
• Enterprise Development
• Corporate Social Investment

The scorecard involves us reviewing your company data and allocating points according to the DTI weighted scorecard in alignment with the various Codes of Good Practice. We then provide you with an auditable scorecard for verification by an agent accredited by SANAS, for the Department of Trade and Industry.

No single agent can both provide the scorecard and verify it – our strength is in the compilation of the scorecard and the issuing of guidelines – not just auditing.

The verification itself is a matter of rubber-stamping your scorecard after an audit of its contents and correctness. Therefore, you actually need a scorecard first, and this is where Mimaxa will help you.