BBBEE STRATEGY

OBJECTIVES OF BEE

OBJECTIVES OF BEE..... (cont)  To promote economic transformation to enable meaningful participation of black people in the economy  To achieve change in racial composition of ownership and management structures and in skilled occupations  Increase ownership, skills training of black woman  Empower rural and local communities  Finance for black economic empowerment  Promoting investment programmes that will lead to sustainable participation and development by black people

BEE SCORECARD

BEE SCORECARD consists of:  OWNERSHIP (20) Currently (14 pts)  MANAGEMENT CONTROL (10) currently (  EMPLOYMENT EQUITY (15)  SKILLS DEVELOPMENT (15)  PREFERENTIAL PROCUREMENT (20)  ENTERPRISE DEVELOPMENT (15)  SOCIO-ECONOMIC DEVELOPMENT (05)

OWNERSHIP

Ownership......(cont)  25% + 1 of total ownership must be black people  Black people must have economic interest and voting rights in Tau Mining

MANAGEMENT AND CONTROL

MANAGEMENT AND CONTROL..... (CONT)  50% OF TOP MANAGEMENT MUST BE BLACK EMPLOYEES

EMPLOYMENT EQUITY

EMPLOYMENT EQUITY..... (CONT)  43% OF SENIOR MANAGEMENT MUST BE BLACK EMPLOYEES  63% OF MIDDLE MANAGEMENT MUST BE BLACK EMPLOYEES  68% OF JUNIOR MANAGEMENT MUST BE BLACK EMPLOYEES

SKILLS DEVELOPMENT

SKILLS DEVELOPMENT..... (CONT)  3% OF TOTAL WAGE BILL MUST BE SPEND ON TRAINING FOR BLACK EMPLOYEES  15% OF THE 3% MUST BE INHOUSE TRAINING (INL: FRIDAY TRAINING; ON THE JOB TRAINING)  85% OF THE 3% MUST BE OUTSOUCRED TRAINING WITH AN ACCREDITED PROVIDER  TRAINING MUST BE JOB RELATED; EMPLOYEES MUST COMPLETE THE TRAINING SUCCESSFUL FOR TAU TO SCORE ANY POINTS

PROCUREMENT

PROCUREMENT..... (CONT)  50% OF ALL PROCUREMENT MUST BE DONE WITH COMPANIES WHO ARE BEE COMPLIANT.  THE AMOUNT WHICH CAN BE CLAIMED BACK, DEPENDS ON SUPPLIER’S BEE RATING

BLACK ENTERPRISE DEVELOPMENT 

BLACK ENTERPRISE DEVELOPMENT..... (CONT)  3% OF NETT PROFIT AFTER TAX MUST BE GIVEN TO A BLACK OWNED COMPANY TO HELP WITH THE START UP.  CAN BE BY DONATION; INTEREST FREE LOAN; TRAINING OF STAFF MEMBERS; DISCOUNT ON PRODUCTS

SOCIO ECONOMC DEVELOPMENT

SOCIO ECONOMC DEVELOPMENT..... (CONT)  1% OF NETT PROFIT AFTER TAX MUST BE DONTATED TO AN ORGANISATION (EXCEPT A CHURCH)  75% OF MONEY DONTATED MUST BE USED FOR BLACK PEOPLE  COMPANIES MUST GIVE TAU A SECTION 18 LETTER TO PROOF THAT THEY ARE BBBEE COMPLIANT / THEY MUST GIVE US PROOF AND A LETTER STATING THAT THEY WILL USE THE MONEY FOR BLACK PEOPLE. (i.e.: KANSA)