The Way to BEE

Introduction

The final Codes of Good Practices under the Broad-Based Black Economic Empowerment Act (BEE Act) of 2003 signalled a significant step in the way businesses will operate in the future.

Although BEE can be seen as a process, it will be a business imperative since the Codes are written into Law.

BEE Regulation

The only organizations currently exempted are micro enterprises whose annual turnover is less than R5 million.

BEE Compliance

MIP Process Technologies (Pty) Limited currently falls in the category of a Large enterprise (LE). This is an enterprise with annual total revenue of more than R35 million and the audit is based on the generic scorecard.