Make Phakamani Part of Your Company's Effort to Transform South Africa through BEE
Phakamani Foundation qualifies as a beneficiary entity under South Africa's national Broad Based Black Economic Empowerment (BBEEE or BEE) Codes of Good Practice, making us an ideal non-profit partner for your company's CSR and BEE programs.
South African companies contributing to Phakamani can score up to 50 points (out of a 100) on the official BEE generic scorecard under the Codes (please see SANAS accredited certificate below).
Enterprise Development Clause - how it works
Socio-Economic Development Clause - how it works
Background:
In South Africa, the history of racial segregation under apartheid has resulted in a society where wealth is still unevenly distributed along racial lines. Prior to the advent of democracy in 1994, non-white racial groups, and especially black people, were largely excluded from participating in the formal economy. In an effort to correct this over the last few years, the Government has created policies to encourage the transformation of South African society and bring these historically disadvantaged groups more fully into the economy. These policies include the BEE Codes of Good Practice.
Under the BEE Codes of Good Practice, companies doing business in South Africa are scored along several elements to determine how well they are doing in terms of contributing to the transformation of South African society. These elements include Ownership, Management, Employment Equity, Skills Development, Preferential Procurement, Enterprise Development and Socio-Economic Development.
Enterprise Development:
Phakamani is a Category A beneficiary for Enterprise Development under the BEE Codes. This means that all contributions to the Foundation receive a points enhancement of 25% on the official BEE generic scorecard.
For example, companies contributing 2.4% (instead of 3%) of their net profit after tax can score 15 points. Qualifying small enterprises (QSE) making a 1.6% (instead of 2%) contribution can score 25 points. Certain in-kind goods or services also count towards these points and Phakamani would be happy to discuss needs with your company.
Socio-Economic Development:
Companies contributing 1% of their annual net profit after tax to Phakamani can score 5 points on the BEE generic scorecard and 25 points on the QSE scorecard.
Ownership:
As a broad-based group benefiting black women only, Phakamani is also well placed to meet a company’s ownership needs under the national BEE Codes. Through partnership with Phakamani, a company could score up to 28 points on the Ownership element. Please contact us to discuss if you are interested.
Relevant documents:
