The Government Gazettes
Minister Davies Gazettes the Information and Communication Technology (ICT) Sector Charter in terms of Section 9 (5) of the Broad-Based Black Economic Empowerment (B-BBEE) Act:
The Minister of Trade and Industry, Dr. Rob Davies has gazetted the ICT Charter as a Draft Sector Code in terms of section 9 (5) of the Broad Based Black Economic Empowerment Act (B-BBEE Act 53 of 2003). This means that members of the public, especially those in the ICT sector have an opportunity to provide inputs and comments during the sixty (60) days commentary period ending on 10 August 2011. The purpose for the comments and inputs is to enhance on the charter before it is gazetted as a Sector Code in terms 9 (1) of the B-BBEE Act.
Conscious of a need to develop successful black owned ICT enterprises, the sector undertakes to spend 5% of their Net Profit After Tax (NPAT) as part of their Enterprise Development to grow and develop black owned enterprises. The monetary and non-monetary spend shall also include transfer of relevant skills that are vital for the sustainability of emerging enterprises. Once gazetted as a Sector Code, the ICT Charter shall serve as a guideline for transforming the ICT sector while also contributing to the growth of the ICT market in South Africa which is projected to hit R250 billion by 2020. The Sector Code will supersede the Generic Codes of Good Practice, and it shall be the primary reference for transformation in the sector.
The Minister of Trade and Industry, Dr. Rob Davies has gazetted the ICT Charter as a Draft Sector Code in terms of section 9 (5) of the Broad Based Black Economic Empowerment Act (B-BBEE Act 53 of 2003). This means that members of the public, especially those in the ICT sector have an opportunity to provide inputs and comments during the sixty (60) days commentary period ending on 10 August 2011. The purpose for the comments and inputs is to enhance on the charter before it is gazetted as a Sector Code in terms 9 (1) of the B-BBEE Act.
Conscious of a need to develop successful black owned ICT enterprises, the sector undertakes to spend 5% of their Net Profit After Tax (NPAT) as part of their Enterprise Development to grow and develop black owned enterprises. The monetary and non-monetary spend shall also include transfer of relevant skills that are vital for the sustainability of emerging enterprises. Once gazetted as a Sector Code, the ICT Charter shall serve as a guideline for transforming the ICT sector while also contributing to the growth of the ICT market in South Africa which is projected to hit R250 billion by 2020. The Sector Code will supersede the Generic Codes of Good Practice, and it shall be the primary reference for transformation in the sector.
