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BBBEE (Broad Based Economic Empowerment)

South Africa's policy of black economic empowerment (BBEE) is not simply a moral initiative to redress the wrongs of the past. It is a pragmatic growth strategy that aims to realise the country's full economic potential.

In terms of legislation and the Codes of Good Practice all commercial entities are encouraged to have their BBBEE status verified. There are three classifications or scorecards to verify and validate the BBBEE status of commercial entities: Micro, QSE (Qualifying Small Enterprise) and Generic.

Although Belle Regalo classification is a micro enterprise (turnover of less than R 5 million per anum), giving us an automatic Level 4 contribution are fully committed to BBBEE. Our Black Empowerment status currently consists of an active strategy in the qualifying categories of Enterprise Development, Procurement and Socio-Economic categories. Each of the three categories gives Belle Regalo a weighting of 25 points, giving us an accumulative total of 75 points, turning us in to a Level 4 contributor based on actual performance and not just an exemption, which gives you a 100% BBEE claim on your expenditure with Belle Regalo.

Furthermore we are actively pursuing additional categories of ownership, to replace our previous equity partnership (2006 – 2007) and employment equity which should be finalized my mid 2008.

 
Visit our Articles for these articles on BBEE
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BEE codes simpler, more flexible

Govt gets tough on BEE fronting

How broad-based is BEE?

Read a Thank you letter from a sponsorship from
Belle Regalo

This makes Belle Regalo a forerunner in the black empowered corporate gifting company category.

This page will be updated following the 2007 year end results


Procurement

Procurement forms a strong part of Black Empowerment strategy.

Belle Regalo actively targets BEE Procurement spend from Qualifying Small Enterprises or from Exempted Micro-Enterprises as a percentage of Total Measured Procurement Spend.

We have a special page on our on-line catalogue names BBEE gifts where we actively promote gifts sourced from Level 4 and higher BBEE contributors, which makes it easier for our clients to ensure that we maintain our BBEE status and therefore giving our BBEE compliant clients peace of mind.

BBBEE Target: 50%
Compliance: Yes
Points in this category: 25 out of 25

'No economy can grow by excluding any part of its people, and an economy that is not growing cannot integrate all of its citizens in a meaningful way' - from South Africa's black economic empowerment strategy document.


Enterprise Development

Belle Regalo was built on the gift of faith that others had in Kim who faced running a very young business as a single parent of a new born baby, with all of the challenges faced by too many women who do not receive support from their children’s fathers. Through love and the specific gifts of some very special individuals Belle Regalo became what it is today.

It is with this spirit of thanks giving that Belle Regalo has made the commitment to develop young female owned business in honour of those earthly angels who formed part of our journey.

We try to find meaningful ways to assist businesses for example sponsoring some of their corporate ID or branding needs.  Read this thank you letter from one of our recipients.

BBBEE Target: 3% NPAT (net profit after tax)
Compliance: Yes
Points in this category: 25 out of 25

Love’s eternal reward lies not only in its recipients, but in addition, in the lives that are changed by the fruit that it bears. Kim Keel-Vermaak


Socio –Economic

Children who have been orphaned as a result of HIV/AIDS in South Africa are becoming a significant social issue. The estimates are that currently 660 000 South African children have been orphaned by HIV/AIDS, an alarming figure that is set to grow substantially in the future.

Ikageng Itireleng is a non-profit organisation which is dedicated to the needs of those children orphaned by HIV/AIDS and provides of consistent support, mentoring, life skills and councelling. Ikageng Itireleng depends on donations and sponsorships and is solely funded in this capacity.

Ikageng Itireleng currently looks after over 1000 children in 225 homes throughout Soweto, and takes pride in expanding the provision of care and support of the health and social needs of children affected by HIV/Aids in Soweto. Carol operates in conjunction with a few local organisations.

BBBEE Target: 1% NPAT (net profit after tax)
Compliance: Yes
Points in this category: 25 out of 25

'AIDS is no longer just a disease, it is a human rights issue. It affects people of all ages, but in particular it affects young people. Young people in Africa. For the sake of all of them, we must act and act now.' Nelson Mandela

Read more about charity at Belle Regalo


Classification of Companies

Size or Class Total Annual Turnover
Less than

Scorecard to comply with Exemption status
Medium Above R35million Generic Scorecard
Small R5million -R35million Qualifying Small Enterprise
Very small R5million -R35million Qualifying Small Enterprise
Micro < R5million Exempted Micro Enterprise


Level of Contribution

BEE Status Qualification BEE Procurement Recognition Level
Level 1 ≥100 points on the Generic Scorecard 135%
Level 2 ≥85 but <100 points on the Generic Scorecard 125%
Level 3 ≥75 but <85 points on the Generic Scorecard 110%
Level 4 ≥65 but <75 points on the Generic Scorecard 100%
Level 5 ≥55 but <65 points on the Generic Scorecard 80%
Level 6 ≥45 but <55 points on the Generic Scorecard 60%
Level 7 ≥40 but <45 points on the Generic Scorecard 50%
Level 8 ≥30 but <40 points on the Generic Scorecard 10%
Non-Compliant <30 points on the Generic Scorecard 0%


Micro

As a Micro with full exemption the BBBEE Status Score is automatically Level 4 which in turn gives you a BBBEE Procurement Recognition Level of 100% as per the Codes of Good Practice (Draft December 05 2006).

Belle Regalo falls within the Micro category. Giving us a Level 4 contribution classification and a BBBEE Procurement Recognition Level of 100%

However we are active in four of the qualifying areas elevating us to a Level 1 contribution classification and a BBBEE Procurement Recognition Level of 100%


QSE – Qualifying Small Enterprise

As a QSE you may select 4 of the 7 scorecard elements in which to have your status measured and verified. The automatic weighting for qualifying under each element is 25 points.

Element Weighting Primary Code Reference
Ownership 25 points Code 1100
Management control 25 points Code 1200
Employment equity 25 points Code 1300
Skills development 25 points Code 1400
Preferential procurement 25 points Code 1500
Enterprise development 25 points Code 1600
Socio-Economic Development 25 points Code 1700


Generic

Medium, large and multi-national organisations fall under the Generic Scorecard.

Element Weighting Primary Code Reference
Ownership 20 points Code 100
Management control 10 points Code 200
Employment equity 15 points Code 300
Skills development 15 points Code 400
Preferential procurement 20 points Code 500
Enterprise development 15 points Code 600
Socio-Economic Development 5 points Code 700


I dream of the realization of the unity of Africa, whereby its leaders combine in their efforts to solve the problems of this continent. I dream of our vast deserts, of our forests, of all our great wildernesses. - Nelson Mandela