YOUR B-BBEE PARTNER IN EDUCATION
If you are looking for the ideal partner and shareholder with respect to the Broad-Based Black Economic Empowerment Scorecard, look no further. Education Africa, following its recent BEE verification, has received an overall score of 103 points which translates to a Level1 B-BBEE contributor with procurement recognition of 135%. This effectively means that all Education Africa clients/partners can claim R1,35 BEE spent for every R1,00 spent with Education Africa on their scorecard. Education Africa is a Section 21 company and by including us in a BEE ownership transaction, companies receive additional bonus points for our black new entrance compliance.
The following points were awarded to Education Africa as per the overall Broad-Based Black Economic Empowerment assessment using the adjusted scorecard:
Equity Ownership: Exempted
Management Control: 27 out of possible 25 points
Employment Equity: 26 out of possible 25 points
Skills Development: 25 out of possible 25 points
Socio-Economic Development: 25 out of possible 25 points
WHAT ARE THE BENEFITS OF HAVING EDUCATION AFRICA AS A B-BBEE PARTNER?
Education Africa has transparent governance structures
- Education Africa has been in existence since 1992
- Education Africa has participated in an equity deal before
- Education Africa provides a wide variety of beneficiaries
- Education Africa provides a potential to score BBB points for a broad-based scheme which forms part of the Ownership score for the participating company
What is B-BBEE?*
Since 1994, Broad-Based Black Economic Empowerment (B-BBEE) has been adopted as an initiative of the South African Government aimed at promoting economic transformation in order to enable meaningful participation of black people in the economy. The BEE Act of 2003 outlines the required targeted areas of development within the South African economy. These key development areas have measurable outcomes in ensuring a path to greater broad-based and effective economic participation, the right to equality, increased employment, more equitable income distribution, economic unity of the nation, equal opportunity and access to services and protection of the common market place.
In February 2007 the Codes of Good Practice on B-BBEE were gazetted and released to provide a clear ad comprehensive framework for the measurement of broad-based BEE across all sectors of the economy. The Codes specifically set about defining the seven measurable scorecard elements of Ownership, Management, Employment Equity, Skills Development, Preferential Procurement, Enterprise Development and Socio-Economic Development.
*Reference: Website – Department Trade and Industry, Republic of South Africa