Phakamani can be part of your company’s effort to transform South Africa through B-BBEE
Phakamani Foundation qualifies as a Level 1 beneficiary entity under South Africa’s national Broad-Based Black Economic Empowerment (B-BBEE) Codes of Good Practice, making us an ideal non-profit partner for your company’s CSR and BEE programmes.
South African companies contributing to Phakamani can score up to 20 points (out of a 100) on the generic scorecard of the dti Codes or up to 50 points (out of 100) on the QSE scorecard. Please see further below for a confirmation letter from a SANAS-accredited verification agent.
In South Africa, the history of racial segregation under apartheid has resulted in a society where wealth is still very unevenly distributed along racial lines. Prior to 1994, non-white racial groups, and especially black people, were largely excluded from participating in the formal economy. In an effort to correct this, the Government has created policies to encourage the transformation of South African society and bring historically disadvantaged groups more fully into the economy. These policies include the B-BBEE Codes of Good Practice.
Under the B-BBEE Codes of Good Practice, companies doing business in South Africa are scored on several elements to highlight how they are doing in terms of contributing to the transformation of South African society. These elements include Ownership, Management, Employment Equity, Skills Development, Preferential Procurement, Enterprise Development and Socio-Economic Development.
Phakamani is a Category A beneficiary for Enterprise Development under the B-BBEE Codes. This means that all contributions to the Foundation receive a points enhancement of 25% on the official B-BBEE generic scorecard.
For example, companies contributing 2.4% (instead of 3%) of their net profit after tax can score 15 points. Qualifying small enterprises (QSE) making a 1.6% (instead of 2%) contribution can score 25 points. Certain in-kind goods or services also count towards these points and Phakamani would be happy to discuss needs with your company.
Companies contributing 1% of their annual net profit after tax to Phakamani can score 5 points on the BEE generic scorecard and 25 points on the QSE scorecard.
As a broad-based group benefiting black women only, Phakamani is also well placed to meet a company’s ownership needs under the national B-BBEE Codes. Through partnership with Phakamani, a company could score up to 28 points on the Ownership element. Please contact us to discuss if you are interested.