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Sector Codes

The purpose of this statement is to clarify the date when a Measured Entity that falls within the scope of a particular Section 9(1) Sector Code must be measured or verified on the basis of the Sector Code and no longer on the basis of the B-BBEE Codes of Good Practice (“the dti Codes”).

If you are looking for a particular document then please visit our Document Library. If you are still not finding what you are looking for then please email us at info@vericom.co.za

Source: www.thedti.gov.za

Sector Codes gazetted under Section 9(1):
Sector Codes Effective Date Highlight Gazette Number
Agri-BEE Charter 28 December 2012
  • The Charter aims to support the acceleration of land reform in South Africa by setting a target for equity and land ownership. Landowners are incentivised with bonus points for transferring to black people in excess of the 30% land reform target. There is also recognition for long-term leases under enterprise development and socio-economic development elements.
  • Enhanced recognition is given to initiatives that result in Greenfield ventures, job creation and beneficiation of primary products, and support industrialisation.
Download Government Gazette No. 36035 [PDF]
Financial Sector Charter Financial Sector Charter 26 November 2012
  • The Minister of Trade and Industry gazetted the Financial Services Sector Code, which provides transformation guidelines for the financial sector, one of the key sectors of the South African economy.
  • The Minister also approved the application of the ‘once empowered, always empowered’ principle with a condition that Government, together with the Financial Services Sector Charter Council, monitor the dilution of black shareholding in the sector.
  • A review will be conducted every two years to determine the level of transformation in the sector and, in particular, the impact of the ‘once empowered, always empowered’ principle.
  • A key, unique feature of the Financial Sector Code is the introduction of an extra element, bringing the elements to eight in total and not seven as in the Generic Codes. The extra element, known as Access to Financial Services, aims to facilitate access to finance for black people and black-owned enterprises.
Download Government Gazette No. 35914 [PDF]
Information and Communication Technology (ICT) Charter 6 June 2012
  • The ICT sector has set a black ownership target of 30% to be achieved by entities in the sector.
  • The main feature of the charter is a set target of 5% Net Profit After Tax to be spend on enterprise development initiatives that are aimed at growing and developing black owned ICT enterprises.
  • Another key highlight is the spend of 1.5% of Net Profit After Tax on Socio Economic Development Initiatives to improve the lives of communities through programmes such as ICT’s in education, and health. The ultimate goal is to bridge the digital divide in the country.
Download Government Gazette 35423 [PDF]
Property Sector Charter 1 June 2012
  • The unique aspects of the property charter is that the charter introduces peculiar targets such as measurements for Economic Development which will be used by businesses and entities in the sector to invest in properties in underdeveloped areas and thus reduce service inequalities and the limited tradability of properties in these areas.
  • In recognition of the nature of the industry where majority of ownership by listed companies is through mandated investments that are far beyond 40%, a special consent is given for only property listed companies and Property Unit trusts to cap the mandated investment at 70% which is higher than the 40% in the Generic Codes.
Download Government Gazette 35400
Chartered Accountancy Sector Code 10 May 2011
  • With this charter, the Chartered Accountancy Profession aims to increase the number of black people, particularly black women entering the profession, to reflect the country’s demographic population. Black Chartered Accountants have been identified as possessing critical skills that are in short supply and yet in great demand in South Africa. The Sector aims to achieve 32,5% black ownership target by 2016.
Download Government Gazette 34267 – Part 1 [PDF] / Part 2 [PDF] / Part 3 [PDF] / Part 4 [PDF]
Integrated Transport Sector Codes 21 August 2009
  • The Minister of Trade and Industry, Dr Rob Davies (MP) announced the gazetting of the Integrated Transport Sector Codes, in terms of the B-BBEE Act. The Integrated Transport Sector Codes comprise eight (8) sub-sectors, which seek to boost one of South Africa’s largest infrastructure and Gross Domestic Product (GDP) contributors. In alignment with government’s national transport action plan, the Codes aim to fast-track the implementation of efficient transportation, freight and logistics sectors within the economy. One of the main highlights is the achievement of a 35% black-ownership target, within a period of five (5) years, as prescribed by the Bus Commuter Service Sub-Sector Code. Unlike other Sector Codes gazetted earlier this year, the Integrated Transport Sector Codes will be continuously reviewed, at five (5) year intervals, from the date of publication thereof.
Visit DTI Website
Forest Sector Code 12 June 2009
  • The Sector Code is an industry-agreed empowerment initiative in the Forest Sector and seeks to deal with transformation challenges in Forest Sub-Sectors of commercial primary growth, fibre production, contracting, sawmilling, pole and charcoal.
  • The Forest Sector Code gives bonus points as an incentive for enterprises to achieve the requisite 30% BEE ownership. It further seeks to encourage and support entities to undertake BEE-compliant procurement and job creation initiatives in the sector.
Download Government Gazette 32320: Part 1 (Pages 1-24) [PDF] / Part 2 (Pages 25-36) [PDF]
Construction Sector Code 5 June 2009
  • It presents the industry with the ideal opportunity for the advancement of transformation and BEE in the procurement of construction programmes and services. The Code also seeks to regulate a target of 30% black ownership in the industry over the next 10 years.
Download Government Gazette 32305 [PDF]
Tourism Sector Code 22 May 2009
  • The highlight of the Tourism Sector Code is that it has a reduced threshold of R2,5 million, as compared to a threshold of R5 million, set out in the Generic Codes. This decrease seeks to ensure that a significant number of enterprises doing business in the tourism industry are not excluded from compliance with the Sector Code.
Download Government Gazette 32259 [PDF]