« Amabubesi Capital is on a mission to be sustainable | Main | Holcim deal finally cemented »
July 25, 2008
ABVA Welcomes DTI Gazetting of B-BBEE Verification Manual
ABVA (Association of BEE Verification Agencies) welcomes the announcement by the dti (Department of Trade and Industry) that the Broad-Based Black Economic Empowerment (B-BBEE) Verification Manual has been gazetted on July 18th 2008.ABVA has worked closely with dti and SANAS in order to ensure consistency and credibility in the approved methodology for B-BBEE verification, and the manual will go a long way to ensure minimum norms, ethical conduct, consistency and transparency in the verification process. This will of course benefit businesses that are eager to ensure that their B-BBEE status is up to date and in-line with the B-BEE Codes of Good Practice.
As the dti explains, the manual "is also expected to make a substantial contribution in changing the way the business of BBBEE verification is done, and instilling a sense of accountability in respect of industry governed norms and standards."
The Verification Manual provides comprehensive and easy-to-follow guidelines for verification agencies to follow. ABVA has been advocating for just this kind of minimum norms and standards in order to ensure the credibility of the verification industry and to encourage confidence from business at large in the process of verification. Therefore ABVA will ensure that all of its members are up to speed and in compliance with the guidelines as laid down in this manual. ABVA members will go through the manual in detail and will be expected to operate within the guidelines laid out.
The verification industry and business at large, are therefore expected to benefit greatly from the establishment of these comprehensive guidelines, norms and standards which will also aid in the acceleration of transformation in South Africa.
The BBBEE verification manual can be obtained from the DTI head office (Pretoria /Tshwane) and is also accessible via the DTI website: http://www.thedti.gov.za
For a list of ABVA members and more information about ABVA's role in the verification industry as well as its role and relationship to the dti and SANAS, please visit the ABVA website: www.abva.co.za
......................................................................................................................................................................../ENDS
To speak to an ABVA representative about the above or any other related matter, please contact: Red Flag Design and Marketing: Lara Preston (011) 447 8283, lara@redflag.co.za or Grace Kadzere grace@redflag.co.za
Posted by StaffWriter at July 25, 2008 11:48 AM