21 Nov Empowering Supplier Status Extended
NEWSFLASH: One of the changes of the revised BBBEE Codes of Good Practice, which came into effect in May 2015, was the requirement to be a so-called ‘Empowering Supplier’. However, states a press release released by the Department of Trade and Industry, the prevailing economic climate and feedback received from corporate South Africa on their readiness to meet certain Empowering Supplier provisions, the Department has taken a decision to place the provisions on hold. Explains Pascal Lagesse, this doesn’t mean that ‘empowering supplier status’ is being scrapped; but that is on hold until further notice – i.e. under review. This means that all BEE verification certificates issued prior to 30 April 2016 will show all businesses to be empowering suppliers, until the date of expiry of that B-BBEE Verification Certificate, Sworn Affidavit or CIPC Certificate.
For more information, please read the press release, or contact us.