Statistics Act, 1999
R 385
Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Amended Codes of Good Practice (2013)Amended Code Series 500: Measurement of the Socio-Economic Development Elements of Broad-Based Black Economic EmpowermentStatement 500: The General Principles for Measuring the Socio-Economic Development Element2. The SED Scorecard |
2.1 | The Net Profit After Tax (NPAT) or average target applies unless: |
2.1.1 | the company does not make a profit last year or on average over the last five years |
2.1.2 | the net profit margin is less than a quarter of the norm in the industry. |
2.2 | If the Turnover is to be used, the target will be set at: |
2.2.1 | 1 % x Indicative Profit Margin (NPAT/Turnover) x Turnover |
2.2.2 | Indicative profit margin is the profit margin in the last year where the company's profit margin is at least one quarter of the industry norm. |
2.3 | The following table represents the criteria and method used for deriving a score for Socio-Economic Development under this statement: |
Criteria |
Weighting Points |
Compliance Target |
Annual value of all Socio-Economic Development Contributions by the Measured Entity as a percentage of the target. |
5 |
1% of NPAT |
2.4 | The weighting points in the SED scorecard represent the maximum number of points possible for each of the criteria. |