Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Codes of Good Practice on Black Economic Empowerment

Integrated Transport Sector Codes

Maritime Transport & Services Industry Sub-Sector Code for B-BBEE

3. Indicators of Empowerment

3.6 Preferential Procurement

3.6.2 The Private Industry commits to:

Purchase

3.6.2.1

Commission, together with other stakeholders, a study to establish current levels of procurement from B-BBEE companies and identify areas where they can achieve "quick wins" to accelerate B-BBEE. The research report will be discussed by Transport Charter Council and communicated to relevant stakeholders.

3.6.2.2

Procure a minimum 70% of total procurement spend from B-BBEE compliant suppliers, as defined by the B-BBEE Recognition Levels articulated in the B-BBEE Codes of Good Practice, within the next 5 years.

3.6.2.3

Procure at least 15% of total procurement spend from B-BBEE Compliant QSEs and EMEs within the next 5 years. The B-BBEE Recognition Levels articulated in the B-BBEE Codes of Good Practice will define the level of recognition of each Rand spent.

3.6.2.4

Procure a minimum of 12% of total procurement spend from 50% black owned suppliers.

3.6.2.5

Procure a minimum of 8% of total procurement spend from 30% black women-owned enterprises within the next 5 years.

3.6.2.6

QSEs within this sub-sector commit to procuring a minimum of 40% of total procurement from B-BBEE compliant suppliers.

3.6.2.7

Adopt the guidelines on Accounting for Affirmative Procurement that will be set by the Transport Charter Council.