Broad Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Codes of Good Practice on Black Economic Empowerment

Code Series 500: Measurement of the Preferential Procurement Element of Broad-Based Black Economic Empowerment

Statement 500 : The General Principles for Measuring Preferential Procurement

1. Objectives of this statement
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The objectives of this statement are to specify:

 

1.1)the Preferential Procurement scorecard;

 

1.2)the key measurement principles applicable to calculating Preferential Procurement contributions to B-BBEE;

 

1.3)a basis for the award of an enhanced recognition status to certain categories of Preferential Procurement;

 

1.4)principles applicable when calculating B-BBEE Procurement Spend; and

 

1.5)the formula for calculating the individual criteria specified in the Preferential Procurement scorecard.