HOW CAN YOU PARTNER WITH US FOR B-BBEE POINTS?
B-BBEE SCORECARD ELEMENTS
OWNERSHIP
SCORECARD POINTS
*These are the maximum possible points for ownership. This is dependent on the Measured Entity (ME)
meeting the Net Equity Value targets, i.e. if Feenix has purchased the shares in that ME with a loan
from the ME, it is a requirement that Feenix realises at least 10% of value each year from the date of
share purchase and that they own the shares unencumbered after 10 years.
PARTNER WITH
Feenix meets all requirements set out in the B-BBEE Codes to qualify as a black shareholder in B-BBEE ownership transactions. This is confirmed by the Beneficiary Analysis Certificate.
In addition, Feenix can be a nominated beneficiary in a ownership Trust.
EXAMPLE
Feenix is the sole shareholder of WaFunda. The impact of this ownership is confirmed by the WaFunda B-BBEE Ownership Certificate.
COMMENT
Should Feenix proceed with a share acquisition, the relevant Shareholder’s Agreement signed will govern the relationship and obligations of the shareholders.
What you need:
This is a very standard list of documentation, additional documents may be requested.
Valid Feenix Beneficiary Analysis Certificate.
Feenix Documentation (Trust Document; Certified ID Documents of Trustees; all beneficiary information).
Share Subscription Agreement.
SKILLS DEVELOPMENT
SCORECARD POINTS
including 5 bonus points
PARTNER WITH
The amendments to the B-BBEE Codes that came into effect on 1 December 2019, include a new Skills Development Scorecard element that specifically focuses on the provision of student bursaries i.e. Category 2.1.1.2. in the Skills Development Scorecard. For Generic Entities the target for Skills Development is 6% of payroll, 2,5% (in excess of 40%) of which must be spent on bursaries, to maximise scorecard points.
Assisting tertiary education students to secure financial support for their studies is the core objective of Feenix.
EXAMPLE
A measured entity (ME) has a total payroll of R1 000 000: target spend for full points is R60 000, target spend for bursaries is R25 000 (2,5%) and target spend for other Skills Spend This spend must be in line with the Learning Programme Matrix that is included here. is R35 000, (3,5%).
COMMENT
To get maximum points, the 3,5% must include Internships/ Learnerships (5% of employees). For the 5 bonus points to be scored, absorption of successful Learnership / Internship candidates must take place.
Feenix can identify bursary students for the measured entity to meet the 2,5% target as well as the percentage of the 3,5% target, that is allocated to bursary students.
What you need:
This is a very standard list of documentation, additional documents may be requested.
Proof of registration at tertiary institution.
Certified ID Document of student.
Proof of payment of bursary.
Proof that payment was allocated to student’s fee account.
ENTERPRISE DEVELOPMENT
SCORECARD POINTS
PARTNER WITH
An Enterprise Development beneficiary must:
– Have an annual turnover of < R50 million
– At least 51% black ownership
– Operate as a for profit entity
WaFunda meets all of these requirements and has the required supporting documentation in place (click here and here to view).
There are numerous ways in which measured entities can support ED and SD beneficiaries. These are included in the Enterprise and Supplier Development Benefit Matrix Annexure 400 (B) of the amended B-BBEE Codes (Government Gazette 31 May 2019 No. 42496, Amended Code Series 400: Measurement of the Enterprise and Supplier Development Element of Broad-Based Black Economic Empowerment); Annexure 400 (B) is included here..
ED support can be used for anything that adds value to a beneficiary organisation’s operational capacity. The purpose of the support provided must be outlined in an ED Agreement.
EXAMPLE
A financial grant can be used to cover the beneficiary organisation’s operational costs (100% inclusion rate).
Direct cost incurred – an organisation can pay for computers used by WaFunda staff (100% inclusion rate).
Professional services rendered at no cost or at a discount (inclusion rate of 60% The inclusion rate is that rate at which the contribution counts towards the ED / SD target. If the inclusion rate is 60% then 60% of the value of the contribution, for example value of time spent by a professional, counts towards the target.).
What you need:
This is a very standard list of documentation, additional documents may be requested.
Enterprise Development Agreement between ME and WaFunda.
Affidavit signed by WaFunda confirming support received from ME.
Confirmation of support (proof of payment or professional support provided).
Confirmation that WaFunda qualifies as an Enterprise Development
beneficiary (click here and here to view).
SUPPLIER DEVELOPMENT
SCORECARD POINTS
PARTNER WITH
Supplier Development beneficiary must:
– Have an annual turnover of <R50 million
– Have at least 51% black ownership
Feenix meets the Supplier Development requirements and has the required supporting documentation (click here and here to view).
WaFunda meets the Supplier Development requirements and has the required supporting documentation (click here and here to view).
ME’s must procure goods and services from Feenix/WaFunda in the financial year that the ME is verified on.
There are a number of ways in which Supplier Development support can be provided Annexure 400 (B) of the amended B-BBEE Codes (Government Gazette 31 May 2019 No. 42496, Amended Code Series 400: Measurement of the Enterprise and Supplier Development Element of Broad-Based Black Economic Empowerment); Annexure 400 (B) is included here.
Supplier Development support can be used for anything that adds value to the operational capacity of the Supplier Development beneficiary. The purpose of the support provided must be outlined in an SD agreement.
WaFunda
WaFunda has the capacity to provide measured entities with edutech development services as well as crowdfunding capabilities. If a ME procures these services from WaFunda, WaFunda will become a supplier for that ME and therefore be eligible to receive Supplier Development support.
Feenix
Feenix can provide skills solutions to measured entities. If a ME needs to fund bursaries as part of their skills implementation, Feenix will invoice the ME and will facilitate the funding of these bursaries. By invoicing the ME for this service, Feenix will become a supplier of that ME and therefore be eligible to receive Supplier Development support.
What you need:
This is a very standard list of documentation, additional documents may be requested.
SD Agreement between ME and WaFunda or Feenix.
Affidavit signed by WaFunda or Feenix confirming support received from ME.
Confirmation of support (proof of payment or professional support provided).
Confirmation that WaFunda or Feenix qualifies as a
Supplier Development beneficiary.
For WaFunda this includes link 1 and link 2 plus an invoice and proof of payment confirming that WaFunda is a supplier of ME.
For Feenix this includes link 3 and link 4 plus an invoice and proof of payment confirming that Feenix is a supplier of ME.
SOCIO-ECONOMIC DEVELOPMENT
SCORECARD POINTS
PARTNER WITH
The objective of Socio-Economic Development (SED) support is the promotion of sustainable access to the economy.
At least 75% of the beneficiaries of each SED contribution must be black South African citizens, as defined in the B-BBEE Codes.
Feenix meets these requirements and has the required supporting documentation in place (click here to view).
There are numerous ways in which measured entities can support SED beneficiaries.
These are included in the SED Benefit Matrix Annexure 500 (A) of the amended B-BBEE Codes (Government Gazette 11 October 2013 No. 36928, Broad-Based Black Economic Empowerment Act (53/2003): Issue of Codes of Good Practice); Annexure 500 (A) is included here.
EXAMPLE
Financial grants (inclusion rate of 100%).
Direct cost incurred by a professional or organisation (inclusion rate of 100%).
What you need:
This is a very standard list of documentation, additional documents may be requested.
Letter from Feenix confirming receipt of the support (download template).
Confirmation that the beneficiaries of Feenix meet
the SED requirements (click here to view).
Proof of the support provided to Feenix.
Feenix Social Enterprise (Pty) Ltd T/A WaFunda (Registration Number: 2019/381266/07)
Feenix Trust (“Feenix”) (IT831/2017; PBO930057053)
Note that this document is focused on Generic Entities being verified on the Generic Scorecard. Certain targets and requirements for scorecard elements differ for each of the Sector Code Scorecards.