The B-BBEE Transport Sector Code is currently under review by the Department of Trade and Industry (DTI). The DTI is considering a number of changes to the code, including:
Increasing the ownership target for black people in the transport sector.
Increasing the procurement target for black-owned businesses in the transport sector.
Introducing new measures to promote skills development and enterprise development in the transport sector.
The DTI is expected to publish a revised code in the coming months. Once the revised code is published, companies in the transport sector will have a year to comply with the new requirements.
The revised Transport sector B-BBEE Code is still under development, but some of the possible changes include:
Increased ownership targets for black people: The ownership target for black people in the transport sector could be increased from the current 25% to 30% or even 50%. This would mean that black people would need to own a larger share of transport businesses in order to achieve a good B-BBEE score.
Increased procurement targets for black-owned businesses: The procurement target for black-owned businesses in the transport sector could be increased from the current 25% to 30% or even 50%. This would mean that transport businesses would need to procure a larger share of their goods and services from black-owned businesses in order to achieve a good B-BBEE score.
New measures to promote skills development and enterprise development: The revised code could introduce new measures to promote skills development and enterprise development in the transport sector. This could include measures such as providing financial support to black-owned transport businesses or providing training to black people in the transport sector.
The B-BBEE Transport Sector Code is a tool for promoting black economic empowerment in the transport sector. The revised code is expected to make it easier for black people to participate in the ownership, management, and procurement of transport businesses. The revised code is also expected to promote skills development and enterprise development in the transport sector.
If you are a company in the transport sector, you should start preparing for the new B-BBEE Transport Sector Code. You should review your current B-BBEE scorecard and identify any areas where you need to improve. You should also develop a plan to improve your B-BBEE scorecard. By taking these steps, you can ensure that your company is compliant with the new B-BBEE Transport Sector Code and that you are taking steps to promote black economic empowerment in the transport sector.
My practical suggestion currently? – get reverified before the codes change as a transition period is not envisaged. Buy yourself time before the change!