Tag Archive | ICT sector

B-BBEE Codes for IT industry now regulated for by DTI

In a recently gazetted publication, the sector charter and broad-based black economic empowerment (BBBEE) code for the information and communication technology (ICT) sector were published by the department of trade and industry (DTI).

According to a media statement published by DTI’s minister Dr Rob Davies, a 30% black ownership target has been set for entities in the sector, the ICT sector charter having much in common with DTI’s generic BBBEE code. However, the equity equivalent target for qualifying multinationals is 30%, this being 5% higher than the target in the generic code and similar to the new property sector charter .

The ICT charter, the statement says, “features a target of 5% net profit after tax to be spent on enterprise development initiatives aimed at growing and developing black-owned ICT enterprises”. The target for the generic codes is 3% net profit after tax.

The gazette also states that a spend of 1.5% net profit after tax is the target on socio-economic development initiatives, as distinct from 1% net profit after tax in the standard BBBEE code.

Communications minister, Dina Pule, will work towards establishing an ICT charter council within the framework of the much troubled charter, she said separately, to monitor the implementation of both the charter and the new BBBEE code for the ICT industry.


Posted in BEE, Cabinet,Presidential, Communications, Labour, Public utilities, Trade & Industry0 Comments

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