BROAD BASED BLACK ECONOMIC EMPOWERMENT AND THE CODES OF GOOD PRACTICE PHASE 1 & 2
VENUE: CAPE TOWN -PARLIAMENT
DATE: 07 March 2006
Agenda
Background and Context
Codes of Good Practice on B-BBEE Phase 2
Dispensation for QSE’s and Micro’s(Code 1000 -1700 : Statement 1000 -1700)
Ownership Additional Clarification
Codes of Good Practice on B-BBEE Phase 1
The Transformation Imperative
• Colonisation & Apartheid systematically disempowered black people
• Result: significant imbalances in SA economy– 90% of population owns less than 5% of JSE– 40% of black South Africans unemployed vs. 10% of
white South Africans– Majority of SA population excluded from SA economy
Economic Prerogative of Broad-Based BEE
• Increase the level of participation by black people in mainstream economy
• Increase income through resultant economic growth
• Increase the real market in the SA economy
Second Economy
BE
EU
pliftm
ent
Second Economy
Mainstream EconomyMainstream Economy
More economic participants
Higher Economic Growth
A Bigger Market for All
The Poverty Barrier
The Skills Barrier
The Business Barrier
The Opportunity Barrier
EmploymentEquity/Job creation
CorporateSocial Investment
Skills Development
PreferentialProcurement
OwnershipAnd Management
Equitable Economic Opportunities
EnterpriseDevelopment
• Broad-based BEE must be inclusive
• Result in economic growth Accounted for with substance over form
Emerging black middle
class & investors
Black entrepreneurs
Black workers, professionals,
graduates, school-leavers
Black unemployed &
rural poor
Broad-Based Beneficiary Base
BEE Legislative Framework
2004 - Broad-BasedBEE Act
• Enabling framework for the promotion of BEE• Empowers minister to issue codes of good practice on BEE• Establishes the BEE Advisory Council
2003 - Broad-BasedBEE Strategy and
Scorecard
• Defines Government’s Broad-Based Strategy• Provide the generic balanced scorecard
2005 – 2006 The Codes of Good
Practice(partially complete)
• Provide certainty on B-BBEE implementation in the economy •Further interpretation of the BEE Act• Determine qualification criteria for licensing• Criteria for entering into PPP’s with private sector
Industry Transformation
Charters(To be negotiated)
• Outline industry-specific BEE weightings and targets• Establish the residual elements of the scorecard• Standardise industry BEE initiatives and reporting
Broad-Based Black Economic Empowerment Strategy
Implementation Levers to promote B-BBEE
2005-2006 Codes of Good Practice on B-BBEE
Sector Transformation Charter
Use of Balanced Scorecard in: Granting of Licences, Concessions to Private Enterprises, Sale of State Assets,
Public Private Partnerships (PPP) and Procurement.
Funding to promote B-BBEE
Agenda
Background and Context
Codes of Good Practice on B-BBEE Phase 2
Dispensation for QSE’s and Micro’s(Code 1000 -1700 : Statement 1000 -1700)
Ownership Additional Clarification
Codes of Good Practice on B-BBEE Phase 1
3
• Lack of full understanding and appreciation of the principles of broad-based BEE
• Inconsistent application of BEE
• Extensive debates could result in delays – biggest is slow or no progress on BEE
• Disparity in Charter Definitions and Targets
• Lack of Implementation Guidelines can result in ‘Fronting’ or ‘Sham’ transactions promoted
Codes of Good Practice aims to address these Concerns and Risks around the B-BBEE
Process
Codes of Good Practice (1) In order to promote the purposes of the Act, the Minister by notice in the
Gazette has issued the codes of good practice on black economic empowerment that include—
(a) the further interpretation and definition of broad-based BEE and the interpretation and definition of different categories of black empowerment entities;
(b) qualification criteria for preferential purposes for procurement and other economic activities;
(c) indicators to measure broad-based BEE ; (d) the weighting to be attached to broad-based BEE indicators referred to in
paragraph (c); (e) guidelines for stakeholders in the relevant sectors of the economy to draw
up transformation charters for their sector; and (f) any other matter necessary to achieve the objectives of this Act.
Codes of Good Practice
10. Every organ of state and public entity must take into account and, as far as reasonably possible, apply any relevant code of good practice issued in terms of this Act in:
(a) determining qualification criteria for the issuing of licences, concessions or other authorizations in terms of any law;
(b) developing and implementing a preferential procurement policy; (c) determining qualification criteria for the sale of state-owned
enterprises; and (d) developing criteria for entering into partnerships with the private
sector.
Key Principles
Description Implication
Substance over Form
Broad-based BEE must be measured and reported
according to economic reality rather than legal form
• Penalize the use and reporting of ‘fronting’ or ‘sham’ BEE structures
and entities
Broad-based BEE Scorecard
BEE is measured based on seven core elements:
ownership, management, employment equity, skills development, affirmative procurement, enterprise
development and residual
• Facilitate changes in business behaviour (in all key elements)
• Extend BEE benefits to as many beneficiaries as possible
• Systematic and quantifiable approach
BEE Recognition
Tiers and Multiplier
Effect
All companies measure BEE based on a score system, and receive higher recognition for
higher BEE compliance
• Foster competition among companies and industries
• Encourage all companies to implement and monitor BEE
compliance in all its economic interactions
Framework for Broad-Based BEE KEY PRINCIPLES
BEE RECOGNITION LEVEL
Level Contribution
BEE Score BEE Recognition Level (Code of Good Practice)
Level 1 > 100 135%Level 2 85~100% 125%Level 3 75~85% 110%Level 4 65~75% 100%Level 5 55~65% 80%Level 6 45~55% 60%Level 7 40~45% 50%Level 8 30~40% 10%
Non Compliant 0~30% 0%
Ownership(Code 100 : Statement 100)
Entrench a key objective of the Act, i.e. to increase the number of black people that manage, own and control enterprises and productive assets.
Provide recognition and measurement criteria for black ownership
Provide financial sustainability through the use of the model of net economic interest
Provide for the empowerment of black women, black designated groups, new entrants and broad based ownership schemes
Key Principles Description Implication
Women Empowerment
Specific targets for black women to ensure participation of black women on ownership
• Encourage companies to actively involve women in organisation.
Broad-based BEE Schemes
Specific qualification criteria for broad-based schemes to ensure participation by beneficiaries. Extensive recognition for companies involving qualified broad-based schemes
• Encourage companies to involve broad-based and employee share schemes in organization• Allows for the inclusion of Trade Union or other special interest investments for black people
Ownership recognition through the disposal of asset
Provides a mechanism for enterprises to score ownership points by disposing of assets rather than shares
• Provide further ownership opportunities to black people• Allow companies to sell assets instead of shares which both achieve the same objective
OwnershipOTHER PRINCIPLES
Indicators Indicator Weighting Compliance Target (Years 0~5)
Compliance Target (Years 6~10)
Exercisable Voting Rights by Black people 3%Exercisable Voting Rights by Black Women 2%
Economic Interest in the Enterprise to which Black people are entitled
4%
Economic Interest in the Enterprise to which Black women are entitled
2%
Economic Interest in the Enterprise to which Black designated groups and Broad-based schemes are entitles to
1%
Ownership Fulfillment 1%
Ownership by Broad-based BEE Schemes or New Entrants (Bonus)
3%
25%10%
25%
10%
2.5%
No RestrictionsNet Economic Interest 10% of Target in Year 1 (2.5% of Enterprise Value)
20% of Target in Year 2 (5.0% of Enterprise Value)40% of Target in Year 3,4 (10% of Enterprise Value)60% of Target in Year 5,6 (15% of Enterprise Value)80% of Target in Year 7,8 (20% of Enterprise Value)100% of Target in Year 9,10 (25% of Enterprise Value)
7%
One bonus point for each level of Five Percent owned by New Entrants or Broad-based Schemes
Ownership Scorecard
Maximum Achievable Points under based on Gender and Broad-based Profile
0
5
10
15
20
25
Consortium with noblack Women (not
Broad-based)
Consortium ofBlack Women (not
Broad-based)
Total OwnershipPoints with no
Bonus
Inclusion of Broad-based Schemes
and New Entrants
Maximum Points Point Sacrifice Bonus Points
Scorecard encourage participation by women and broad-based schemes and new entrants
Companies entering into transaction with broad-based schemes and new entrants rewarded with bonus points
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
100.00%
Participation by Top 6BEE Consortiums
Participation by BlackWomen Groupings
Participation byBroad-based BEE
Schemes
Participation by BlackEmployees
Percentage of Transaction involving different classes of beneficiaries
Prior to Draft Codes (2004) After Draft Codes (2005)
The Code: The Code:
Significantly increases the participation by black women, broad-based schemes and black employees
spreads the BEE ownership base, reduces the number of deals involving the top six (6) BEE consortiums
results in more than half of the companies providing forms of vendor financing to facilitate entry by broad-based BEE shareholders
Behavioral Impact of the Codes
Key Principles
Description Implication
Setting Targets for Board Representation and Executive Involvement
Setting specific targets for Board representation and executive involvement
• Prescribe the ideal representation level for participation by black people on the board of directors and by black women
Specific Target for Black Women Management
Specific target set for black women management participation
• Companies will not be able to achieve the full score for management without the participation by black women in top management
Specific Measurement of Executive Representation
Specific allocation for black representation in executive committees and top executive management
• Prevent enterprise from achieving quota by only appointing black non-executives• Counters market trend in appointing black non-executives rather than executives
Management Control(Code 200 : Statement 200)
KEY PRINCIPLES
Management Control Scorecard(continues)
Agenda
Background and Context
Codes of Good Practice on B-BBEE Phase 2
Dispensation for QSE’s and Micro’s(Code 1000 -1700 : Statement 1000 -1700)
Ownership Additional Clarification
Codes of Good Practice on B-BBEE Phase 1
Employment EquityKEY PRINCIPLES
Key Principles Description Implication
Alignment with the Employment Equity Act
Measurement of occupational levels based on schedule EEA9 of the EE Act
•Prevents contradiction in terminology and efforts in the implementation of EE initiatives in both the EE Act and the B-BBEE Act
No score allocation for Black Representation at Semi-skilled & Unskilled Levels
Measurement based occupational levels on schedule EEA9 ito EE Act, measures senior, middle and junior management (including professionals and skilled) but excludes semi-skilled and unskilled
• Prevents companies achieving high scores for EE when there is little or no black representation at skilled supervisory, management and senior levels
Specific Targets for Black people with Disabilities
Specific target dedicated to overall representation of Black People with Disabilities
• Meaningful incentive (20% of weighting) for the employment of black people with disabilities
Specific Targets for Black Women across the top two Measured Occupation Levels
Specific targets for women set for two of the more senior occupational which are measured for employment equity
• Specific incentive to employ black women at senior levels (30% of the weighting)
Employment Equity Scorecard
Criteria Weighting points
Compliance targets
Black people with disabilities employed by the Measured Entity as a percentage of all full-time employees
2 4%
Black people employed by the Measured Entity at Senior Management level as a percentage of employees at Senior Management level
2 60%
Black women employed by the Measured Entity at Senior Management level as a percentage of employees at Senior Management level
2 30%
Black people employed by the Measured Entity at Professionally Qualified, Experienced Specialists and Mid-management level as a percentage of employees at Professionally Qualified, Experienced Specialists and Mid-management level
2 75%
Black women employed by the Measured Entity at Professionally Qualified, Experienced Specialists and Mid-management level as a percentage of employees at Professionally Qualified, Experienced Specialists and Mid-management level
1 40%
Black people employed by the Measured Entity at Skilled Technical and Academically Qualified Workers, Junior Management, Supervisors, Foremen, and Superintendents as a percentage of employees at Skilled Technical and Academically Qualified Workers, Junior Management, Supervisors, Foremen, and Superintendents level
1 80%
Skills Development KEY PRINCIPLES
Key Principles Description ImplicationAlignment with Skills Development Act
Encourage Skills development initiatives to be in line with the skills development strategy
• Alignment of skills development initiatives for both the SD Act and the B-BBEE Act.
Additional Recognition for contribution to Core and Critical Skills
These include skills that are related to value adding activities in line with the core business and in areas that the Measured Entity cannot outsource.
• Focus skills development spend on skills which are core or critical to the business
Specific Skills Spend for Black Women and people with disabilities
Additional 3 points allocated to skills spend towards black women employees and to black employee with disabilities
• Specific allocation of skills development spend to those employees who were most disadvantaged in the past
Learnerships Skills development programs approved by the relevant SETA which are fully certified in terms of South African Qualifications Authority Act
• The allocation encourage registration and participation in learnerships programs
Organisational Transformation Index
Organisational Transformation index measures the extent of enterprise commitment transformation
•This allocation encourages the adoption of plans, policies and strategies to promote transformation • Qualitative Measure of transformation
Skills Development Scorecard
Category Skills Development Element Weighting points
Compliance Target
Skills Development
Skills Development Spend on black employees 4 3%
Skills Development Spend on Critical Skills and/or Core Skills for black employees
2 2.6%
Skills Development Spend on Critical Skills and/or Core Skills for black women employees
2 1.4%
Skills Development Spend on black employees with disabilities
1 0.3%
Learnerships
Number of black employees on SETA-accredited Learnerships
2 5%
Number of black women employees on Learnerships 2 2.5%
Number of formerly black unemployed people and/or black people formerly residing in rural areas on Learnerships
1 1%
Skills Development Scorecard(continues)
Category Skills Development Element Weighting points
Compliance Target
Organisational Transformational Index
Existence of a comprehensive Black Economic Empowerment strategy and which is being implemented
Yes 1
Employment of a Skills Development Facilitator Yes 1
Existence of a policy on non-discrimination widely published within the Enterprise
Yes 1
Compliance with all relevant employment related legislation
Yes 1
Implementation of an effective human resource management plan
Yes 1
Existence of a program designed to give practical effect to the stated policies and programs
Yes 1
•TOTAL 6
Criteria Weighting points
Compliance target
BEE Procurement Spend from all suppliers based on the BEE Procurement Recognition Levels, QSE Recognition Levels or the Deemed Micro Enterprise Recognition Levels (as the case may be) as a percentage of Total Measured Procurement Spend
15 70%
BEE Procurement Spend from Qualifying Small Enterprises based on the QSE Recognition Levels as a percentage of Total Measured Procurement Spend
4 15%
BEE Procurement Spend from Exempted Micro Enterprises based on the Deemed Micro Enterprise Recognition Level as a percentage of Total Measured Procurement Spend
1 5%
Preferential Procurement Scorecard
Cost of Sales
Operational Expenditure
Capital Expenditure
TotalSpend
TOTAL MEASURED PROCUREMENT SPEND
Allowable Exclusions:-Salaries-Third party costs-Loans and Donations-Certain imports-Rates & Taxes, levy and- post retirement funding and -Medical aid contributions,etc.-Imports accepted to a maximum of 25% of the total procurement
BEE Spend Non-BEE spend
Statement 500 – Preferential Procurement
Enterprise DevelopmentKEY PRINCIPLES
Key Principles Description Implication
Recognition of Monetary &
Non-Monetary Contributions
Proviso: non-monetary contributions must be quantifiable
• Insistence on quantifying contributions allows for fair
measurement of non-monetary contributions in relation to monetary
contributions
Recoverable vs. Non-
Recoverable Spend
6 weighting points given to non-recoverable contributions, whilst 4
points allocated to recoverable contributions such as loans. Indicator contributions are
summed but no more than 4% allocated to recoverable even if no
other contributions made
• Heavy emphasis place on non-recoverable contributions
•Adjustment of 6 weighting points for non-recoverable to 10% if only non-
recoverable contributions made•No adjustment of 4% weighting for
recoverable to disincentives recoverable loans as only means of
ED contribution
Key Principles Description Implication
Contributions Measured
Cumulatively Choice of
Initiation Date
ED contributions measured cumulatively as a percentage of cumulative EBITDA. Choose of
starting point for cumulative measurement to begin from:
commencement of Codes OR any chosen date which may not be
earlier than 5 years prior to commencement of Codes
• Large corporations which contributed prior to Codes can enjoy ongoing recognition for these contributions•Entities which did not previously
contribute will not be penalized and will start on a “clean slate”
Enhanced Recognition
Enhanced recognition for:•Initiatives which ensure job
creation (150%)•Initiatives which develop micro’s
(125%)•Initiatives which develop
enterprises which produce goods not previously available in SA
(150%)
•Incentives focus on initiatives which directly lead to job creation
•Incentivises development of micro’s which would otherwise be largely
overlooked•Incentivises investment in/ creation on
companies which focus on local production
Enterprise DevelopmentKEY PRINCIPLES (continues)
Enterprise Development Scorecard
Criteria Weighting Points
Compliance Target
Cumulative Non-Recoverable Contributions made by the Measured Entity as a percentage of cumulative EBITDA measured from the commencement/Inception Date to the date of measurement.
6 2%
Cumulative Recoverable Contributions made by the Measured Entity as a percentage of cumulative EBITDA measured from the commencement/Inception Date to the date of measurement.
4 3%
Residual ElementKEY PRINCIPLES
Key Principles Description Implication
Recognition of Monetary &
Non-Monetary Contributions
Proviso: non-monetary contributions must be quantifiable
• Facilitates access to the economy for the beneficiaries
• Insistence on quantifying contributions allows for fair
measurement of non-monetary contributions in relation to monetary
contributions
Contribution Beneficiaries
Communities, Natural Persons and / or groups of natural persons
where at least 75% are black people
• Provides socio-economic improvements• Job creation
Contributions Measured
Cumulatively Choice of
Initiation Date
RD contributions measured cumulatively as a percentage of cumulative net profit after tax.
Choose of starting point for cumulative measurement to begin
from: commencement of Codes OR any chosen date which may
not be earlier than 5 years prior to commencement of Codes
• Large corporations which contributed prior to Codes can enjoy
ongoing recognition for these contributions
•Entities which did not previously contribute will not be penalized and
will start on a “clean slate”
Residual Element Scorecard
Criteria Weighting Points
Compliance Target
Cumulative Rand value of Non-recoverable Qualifying Corporate Social Investment Contributions made by a Measured Entity to Contribution Beneficiaries measured as a percentage of cumulative net profit after tax measured from the commencement date of this statement or the Inception Date until the date of measurement.
5 1.5%
Cumulative Rand value of Qualifying Industry Specific Contributions made by a Measured Entity to Contribution Beneficiaries measured as a percentage of cumulative net profit after tax measured from the commencement date of this statement or the Inception Date until the date of measurement.
5 1.5%
BONUS POINT:Qualifying Residual Contributions which benefit natural persons living in rural communities
1
Agenda
Background and Context
Codes of Good Practice on B-BBEE Phase 2
Dispensation for QSE’s and Micro’s(Code 1000 -1700 : Statement 1000 -1700)
Ownership Additional Clarification
Codes of Good Practice on B-BBEE Phase 1
Micro Enterprises
Qualifying SmallEnterprises
(As per Statement 1000)
OtherCompanies(Exceed
Revenue orEmployee limits)
Generic Scorecard,with all seven elements(Statement 000~900)
QSEs can elect to implement the entire QSE scorecard (with enhanced recognition)
QSE Scorecard,Select five of the seven elements
(Statement 1000~1700)
All elements weigh 20%
Indicators adapted to QSEs
Micro Exemption,Automatic Level 4
Recognition
Framework for Measuring BEE in QSEs
QSE Identification and Classification Table
0
5,000
10,000
15,000
20,000
25,000
30,000
An
nu
al
Rev
en
ue
Micro QSE Lower Limit QSE Upper Limit
Qualifying Small Enterprises
Exempted Micro Enterprises
BEE Elements Code Ref.
Weighting Indicators Indicator Weighting
Compliance target
Ownership BEE 1100
20% Exercisable Voting Rights by black people
5% 25.% + 1 vote
Economic Interest in the Enterprise to which Black people are entitled
7% 25%
Ownership Fulfillment 1% No restrictions
Net Equity Value 7% 10% - 100% staggered over a 10 year period
Bonus Points:Involvement in the ownership of the Enterprise of:
-Black Women and/or-Broad-based Ownership Schemes
3% 15%
Management Control
BEE 1200
20% Black representation at Owner-Manager level;
20% 25,1% Owner-Manager Representation,
Bonus Points: Black Women representation at Owner-Manager
2% 10%
QSE Scorecard – Ownership & Management Control
BEE Elements Code Ref.
Weighting Indicators Indicator Weighting
Compliance target
Employment Equity BEE 1300
20% Black representation at Manager-Controller level
6% 40%
Black women representation at Manager-Controller level
6% 20%
Black employees as a percentage of total employees
4% 70%
Black women as a percentage of total employees
4% 35%
Skills Development BEE 1400
20% Application submitted to the National Skills Fund
5% Yes
Quantifiable skills development spend on black employees in addition to Skills Development Levy as a percentage of the Leviable Amount (including amount spent on learnerships)
15% 2%
QSE Scorecard – Employment Equity & Skills Dev.
BEE Elements Code Ref.
Weighting Indicators Indicator Weighting
Compliance target
Preferential Procurement
BEE 1500
20% BEE Procurement Spend from Suppliers based on the BEE Procurement Recognition Levels or Deemed Micro Enterprise Recognition Levels as a percentage of Total Measured Procurement Spend
20% 50%
Enterprise Development
BEE 1600
20% Enterprise development contributions made by the Qualifying Small Enterprise as a percentage of EBITDA
20% 2%
Residual Element BEE 1700
20% Qualifying Residual Contributions made by the Enterprise measured as a percentage of net profit after tax
20% 2%
QSE Scorecard – Preferential Procurement , Enterprise Development and Residual
Agenda
Background and Context
Codes of Good Practice on B-BBEE Phase 2
Dispensation for QSE’s and Micro’s(Code 1000 -1700 : Statement 1000 -1700)
Ownership Additional Clarification
Codes of Good Practice on B-BBEE Phase 1
Ownership – Additional Clarification
Four (4) additional Codes statement have been released during Phase 2 to provide further guidance on the measurement of ownership, these statements include:
Statement 102Statement 102: Warehousing Funds
Statement 103Statement 103: Multinational Companies
Statement 104Statement 104: Public Entities and other Organs of State
Statement 105Statement 105: s21 Companies
Statement 102 – Warehousing Fund
Warehousing Funds
• Minister approved fund • Established to hold an Equity Interest in an Enterprise purchased from exiting black Participants • Fixed duration • Obligation ultimately transferring ownership to Intended Black Participants
• Create exit mechanism for black investors • Ensure companies do not lose BEE status when negotiating a BEE transaction with new black participants
Identification of Intended
Black Participants
• Tri-partite agreement • Between vendor, warehousing fund and intended black participants
• Ultimate black participants need to be identified • Final purchase price agreed before warehousing arrangement recognised as black ownership• Black ownership only recognised based on specified principles of ownership in Statement 100
PRINCIPLE:
An Enterprise may be awarded ownership points for notional black participation arising from the ownership by a Warehousing Fund. Providing liquidity and exit mechanism for black investors
Exiting Black Investors New Black Investors
Measured Entity
Warehousing Fund
Ownership – Warehousing Fund - (Code 100 : Statement 102)the recognition of ownership Contributions Arising from Investments by BEE
Targeted Warehousing Funds
Multinationals
SA Multinationals
Equity Equivalent= 25%
Sale of international interest
Sale of assets andoperations
Ownership – Option for Multinational Companies(Code 100 : Statement 103)
Sale of Shares
Companies have an option of either doing one of the followingOptions or they can apportion it using a combination of the options provided
Statement 104 / 105 – Public Entities, Organs of State and Section 21 Co.
Broad-Based
Scorecard
• All Public Entities • Organs of State• s21• Measured in terms of B-BBEE scorecard
• No business entity excluded from B-BBEE • Except exempted micro-enterprise
Notional Ownership
Points
• B-BBEE score of Public Entities, State Organs and s21 allocated notional ownership points• Based on contributions to other 6 scorecard elements
• Public entities and s21 allocated notional ownership points based on converted score from remaining 6 BEE elements• Formula: A = B / 80 * 20
Key Principles Description Implication
Broad-based Scorecard
All Public Entities, Organs of State and s21 can and will be measured in terms of the Broad-based scorecard
• No business entity will be excluded from Broad-based BEE (unless it is an exempted micro-enterprise)
Notional Ownership Points
The Broad-based BEE score of Public Entities, State Organs and s21 will be allocated a notional ownership points based on its contribution to the other 6 elements of the scorecard
• Public entities and s21 will be allocated with notional ownership points based on the converted score from the remaining 6 BEE Elements, the formula is as follows:
•A = B/80 * 20
Ownership – Public Entities, Organs of State and Section 21 Co’s
(Code 100 : Statement 104 / 105)
THANK YOU
Contact Details
BEE Unit: The Director
Attention : Mr. Jeffrey Ndumo
The Department of Trade and Industry
Private Bag X84,
Pretoria
0001
Tel No. : (012) 394 – 1631/4
Fax No. : (012) 394 – 2631/4
e-mail address : [email protected]