18 September 2008
The Department of Trade and Industry (DTI) has launched a new website offering a wealth of resources, including legal information and useful tools, related to black economic empowerment (BEE) in South Africa.
Trade and Industry BEE director Takalani Tambani said the new portal was in line with what was expected by the BEE codes of good practice, and would help the government monitor and report on the implementation of BEE across the economy.
He said that the portal would promote business opportunities, manage the flow of information to the department, and provide a channel through which members of the public could report on BEE “fronting”.
Visitors to the portal will be able to use an interactive self-assessment tool, likened to a BEE calculator, which will help companies gauge their empowerment credentials.
In addition, Tambani said the portal would simplify compliance and minimise costs associated with broad-based black economic empowerment, standardise the reporting process by stakeholders, and encourage broader participation.
The system is being phased in gradually, with more information expected to come from verification agencies, state-owned entities and sector charter councils as required by empowerment legislation.
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