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.

 

In any of these initiatives, Kearsney will be able to provide a Section 18A Certificate which means that the contribution will be tax deductible.

Broad-Based Black Economic Empowerment

Corporates are increasingly motivated to contribute to society. Kearsney supports the spirit of the B-BBEE code. The Kearsney Empowerment Programme is independently audited and verified by Stimela group Broad-Based BEE Service |stimelaconsulting.co.za

B-BBEE Certificate

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