3 Ways That You Can Easily And Conveniently Boost Your B-BBEE Score

Jun 21, 2019

With the increasingly complex demands and changes to the B-BBEE codes of good practice, it can sometimes be difficult to develop innovative and mutually beneficial methods of complying with them. While some of the pillars of the B-BBEE structure are very straight forward, others such as skills development, can be a complete headache to navigate through.

We’ve outlined 3 different ways that you can spruce up your scorecard without leaving you wanting to pull your hair out.

Invest in a YES (Youth Employment Service) Initiative

In August 2018, the South African government published gazette #41866 in which they made amendments to code series 000 as Statement 000. In this amendment they placed a massive focus on YES initiatives and its implementation throughout generic entities.

In this statement it was noted that measured entities which achieve or exceed its YES goals and targets could move up 1-2 B-BBEE recognition levels provided that there is a percentage of absorption into the current workforce for a period of 1-3 years. It was also noted that generic entities could receive up to 50% of their spend back on all investments into YES initiatives.

Upon the announcement of the amendments, Novia One provisioned the development of its own YES initiative coupled with its extensive training programme and learnership catalogue to serve as a template for implementation within its own client base. With this in mind, a number of different opportunities presented itself.

  •  Clients had the option to run their own bespoke programme through Novia One and its training programmes
  •         Clients were offered the opportunity to sponsor and invest in the Novia One YES initiative
  •         Clients were offered the opportunity to absorb / get involved with the placement of learners who completed the programme

All of these opportunities are structured in a way which contributes to B-BBEE scorecard development.

Combine your skills development spend with your procurement spend to maximise your B-BBEE optimisation spend

Novia One is recognised as a 100% black female owned QSE. This means that all skills development and training spend with Novia One contributes towards B-BBEE procurement spend in the most efficient way possible.

What about ESD spend?

Novia One has developed an Enterprise and Supplier Development investment fund for clients who are looking to fulfil their ESD targets. As Novia One is a qualifying QSE, ESD spend can be structured as a development loan which is then invested in a low risk portfolio over a specified period. The loan amount and any additional profits is then paid back once the period has lapsed.

Alternatively, Novia One has an extensive range of training programmes, such as the YES initiative, through which ESD spend can be structured as a sponsorship. This can also tie in with a number of other B-BBEE targets.

If you would like to take advantage of these initiatives or services, visit our website at https://noviaone.com/contactus/ or contact us at marketing@noviaone.com