The Department of Trade and Industry (dti), together with three universities, is finalising the development of a Standardised National Training Programme for Broad-Based Black Economic Empowerment verification.
"Since the inception of the Codes of Good Practice for B-BBEE, the department has endeavoured to harmonise the verification industry and set standards on B-BBEE verifications," said the department.
In 2009, the dti gazetted sector charters as sector codes in terms of Section 9(1) of the B-BBEE Act. These are the tourism, forestry, construction, transport, and chartered accountancy sector codes.
The dti said the same measurement principles applicable in the measurement of the generic score-card is applicable in the case of sector codes. It is also the responsibility of every verification agency to familiarise themselves with the sector codes.
"The dti, jointly with the government departments responsible for the gazetted sector codes, has embarked on an awareness campaign to further familiarise verification agencies with the imperative of measuring sector codes."
Government said it would continue to work with the private sector on issues surrounding sector codes, as buy in from all stakeholders was important for the successful implementation of its B-BBEE strategy.
Sector charters are voluntary industry initiatives by stakeholders with common commercial characteristics looking to promote and give effective, meaningful expression to the purpose of the BBBEE Act.
The stakeholders, once agreed about the targets, weightings and measurements of the industry specific objectives, then submit, through the representative industry body, a written application to the Minister of Trade and Industry to have the Sector Charters gazetted as sector codes of good practice in terms of the B-BBEE Act.
"Once gazetted as such, sector codes are legally binding and enforceable to the sector and industry players who have assented signatory thereto," said the dti. - BuaNews