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| With the changes within
South Africa, there has been action to raise the levels of non-white
people within the socio-economic fabric of the country. Initially
Black Economic
Empowerment was the vehicle, which
concentrated mainly on ownership. More recently (2007) a new procedure
Broad Based
Black Economic
Empowerment has been introduced. This
involves management positions, suppliers, social responsibility and a whole
raft of legislation. In short it represents a measure on how formerly
disadvantaged people are being uplifted. It is a requirement for
Tenders when working with governmental bodies at all levels, and because it
effects the buyer's BBBEE status, is rapidly becoming a requirement for any
business within South Africa. There are various classes, with Class one being the best available. Class 7 is seen as a minimum requirement for contracting to governmental bodies, and Class 4 is not too difficult to obtain. Only a few companies have achieved Class 1 and Momento's are proud to be in that number. Our certificate is below. |
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