BEE Partner, South Africa Economy Watch

Having established how much the business needs to spend, the next step is to consider what to spend the money on so it will count as contributions to transformation. This section provides guidance on what the company may and may not include as skills development spend. The term “skills development spend” is defined, meaning that unless the spend meets the definition, it will not be included in the measurement. Read the rest of this entry »

Qualifying socio-economic development contributions

Socio-economic development contributions consist of monetary or non-monetary contributions actually initiated and implemented in favour of beneficiaries by a measured entity with the specific objective of facilitating sustainable access to the economy for those beneficiaries.

The contributions may be monetary based or non-monetary, such as providing training or sacrificing their employees‘ time in favour of beneficiary groups, as opposed to incurring a direct expense. The contribution must be “actually initiated and implemented“, meaning it must be exercised and paid for. Future initiatives do not count. Read the rest of this entry »