As of the 1st April 2021, all spheres of government, public entities, and organs of state as well as all companies listed on the JSE are required to provide additional B-BBEE reporting requirements.
The B-BBEE Commissioner recently issued an explanatory notice providing further guidance on the information to be reported on the compliance matrix for submission to the B-BBEE Commission as part of Explanatory Notices 02 of 2017 and 01 of 2018 respectively, in terms of section 13G (1) and (2) of the B-BBEE Act.
In addition to the information prescribed in form B-BBEE 1, this explanatory notice includes a compliance reporting matrix, which provides detailed reporting requirements to be included in B-BBEE annual compliance reports for the above-mentioned entities regarding the following elements of the B-BBEE Scorecard:
- Indicate the number of black shareholders/directors/managers and provide further information as per the compliance report.
- Indicate dividends declared and method or formula of distribution.
- The information provided for management control must be the same information submitted to the Department of Labour for employment equity reporting.
- Value of the 6% or 3% of the leviable amount identified for skills development of black people.
- The number of black persons trained broken down per category in the compliance report.
- Detailed list and information of compliant suppliers as per compliance report.
- Number of enterprise and supplier development beneficiaries and the value thereof by providing relevant information outlined in the compliance report.
- The total value spent.
- The number of black participants supported in terms of requirements stated in the compliance report.
The additional reporting obligations will be effective from 01 April 2021.
Please contact our team of B-BBEE experts if you require any assistance with your B-BBEE reporting obligations.