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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 Qualifying Small Enterprise (QSE). This is an enterprise with annual total revenue of between R5 million and R35 million.

MIP Scorecard

Element

Weighting

Current assessment

Actual Points

Ownership

25 points

100% black owned

25.0

Management Control

25 points

100% black management

25.0

Employment Equity

25 points

Employment targets

11.35

Socio-Economic Development

25 points

Above average support

25.0

TOTAL

100 points

 

86.35

This qualifies MIP Process Technologies (Pty) Limited as a Level 2 contributor and equate to 135% compliance. This allows our customers to claim 125% of your procurement spent with MIP Process, against their own B-BBEE targets.

BEE Status

Qualification

Compliance Level

Level One Contributor

≥ 100 points

135%

Level Two Contributor

≥ 85 but ≤ 100 points

125%

Level Three Contributor

≥ 75 but ≤ 85 points

110%

Level Four Contributor

≥ 65 but ≤ 75 points

100%

Level Five Contributor

≥ 55 but ≤ 65 points

80%

Level Six Contributor

≥ 45 but ≤ 55 points

60%

Level Seven Contributor

≥ 40 but ≤ 45 points

50%

Level Eight Contributor

≥ 30 but ≤ 40 points

10%

Non-Compliant Contributor

< 30 points

0%

Source:

“The Way to BEE 2007” – A Guide to Black Economic Empowerment.
Available at: www.cliffedekker.com

MIP Process Technologies (Pty) Ltd are proudly a Level 1 Contributor as verified by BEE Rating Solutions, a SANAS accredited BEE Verification Agency. We also qualify as a Qualifying Small Enterprise, a value adding enterprise and a category B enterprise development beneficiary.

Click here to see our 2013 BEE Certificate