Statistics Act, 1999
R 385
Broad Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Black Economic EmpowermentCode Series 700 : Measurement of Socio-Economic Development Elements of Broad-Based Black Economic EmpowermentStatement 700 : The General Principles for Measuring the Socio-Economic Development Element2. The SED Scorecard |
2.1) | The 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 |
Average annual value of all Enterprise 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. |