B-BBEE Certification Part 10 - Socio Economic Development

Upliftment through Socio Economic Development

In South Africa we real issues, for example:

Unemployment
Sub-standard education
Xenophobia
Drought

These issues cannot be solved by political intervention or policy only, but requires the buy-in and assistance of the private sector and community at large as well. These problems are also not only focused in rural areas, but in urban and semi-urban areas.

Socio Economic development (SED) for BEE purposes provides you with 5 points in exchange for 1% of your net profit after tax.

This 5% has to be allocated or spent within a community project, or education of the community, or some sort of upliftment. It can also be utlised for infrastructure development within a community.

The most popular angle is for an NPO to run community projects, infrastructure development, vegetable gardens, etc. and obtain funding from corporates. Have a look at LIV Cape Town as an example: www.liv-capetown.co.za

Larger companies start their own initiatives. Other combine it with the Corporate Social Investment strategy. Lots focus on initivatives there their workers stay or work it into the social labour plan of their mining operations etc.

Marketing or branding is a natural outflow of SED.

Ask us how, gain more insight with the video below: