BBBEE

Organisations making bursaries to  black Kearsney scholars or past scholars can benefit under two areas of the BEE Codes of Good Practice:

1. Skills Development:

    

   The first area is under the Skills Development pillar of the BEE Scorecard.

   • Organisations can count spend on bursaries for Grade 10,11 and 12 black* (*black defined as ‘African, Indian or Coloured South African citizens’) students towards their target of spending 3.5% of their gross annual payroll on training for black people. There are 6 points available under this formula.
   • They can also count spend on bursaries for tertiary institutions such as University/ Tech etc for black Kearsney matriculants  towards their target of spending 2.5% of their gross annual payroll on Bursaries for black Students at Higher Education Institutions. There are 4 points available under this formula.

    

2. Socio-Economic Development:

    

   The second area is under the Socio-Economic Development pillar of the BEE Scorecard.

• • Organisations can count spend made on bursaries for African, Indian or Coloured students in any grade towards their annual target of spending 1% of their Net Profit After Tax on Socio-Economic Initiatives. There are 5 points available under this formula.

Organisations can make contributions to all three initiatives detailed above with more than one bursary contribution but the contributions cannot be double counted- i.e. the same contribution can’t be counted under both Skills Development and Socio-Economic Development pillars.