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Noko Realty Solutions: Your one stop ESD* Solution for the Property Services Group
What is ESD? (Enterprise and Supplier Development):
According to the 2007 B-BBEE Codes of Good Practice, Generic Companies need to spend 3% of their Net Profit after Tax on Enterprise Development in order to comply.
With the gazetting of the Amended Broad-Based BEE Codes of Good Practice in October 2013, companies are obligated to support Black owned Enterprises with a view of ensuring operational and financial sustainability. The key emphasis is ensuring that these Black Owned Enterprises are given the opportunity to enter (and grow into) Corporate SA’s supply chain for at least a 3 year period in order to attain sustainability and avert business failure.
The 2007 BEE codes speak of two elements: Preferential Procurement and also Enterprise Development. In the amended new Codes, a new element Enterprise & Supplier Development (ESD) combining Enterprise Development and Preferential Procurement has been introduced. The two previously were worth 35 points. This has now increased to 44 points. A key indicator on the new element ESD is for a company to spend 40% of its procurement from empowering suppliers that are at least 51% black owned.
With the gazetting of the Amended Broad-Based BEE Codes of Good Practice in October 2013, companies are obligated to support Black owned Enterprises with a view of ensuring operational and financial sustainability. The key emphasis is ensuring that these Black Owned Enterprises are given the opportunity to enter (and grow into) Corporate SA’s supply chain for at least a 3 year period in order to attain sustainability and avert business failure.
The 2007 BEE codes speak of two elements: Preferential Procurement and also Enterprise Development. In the amended new Codes, a new element Enterprise & Supplier Development (ESD) combining Enterprise Development and Preferential Procurement has been introduced. The two previously were worth 35 points. This has now increased to 44 points. A key indicator on the new element ESD is for a company to spend 40% of its procurement from empowering suppliers that are at least 51% black owned.
Alignment to the ESD Scorecard:
