Cabinet has taken another step in promoting black economic empowerment by approving the codes of good practice that small and large companies will have to follow.
Trade and Industry deputy director-general Lionel October said at a post-cabinet briefing yesterday that there would be a fuller briefing on the codes of good practice next week and that final drafting was now taking place.
The codes of good practice will be published in the government gazette before the end of next month.
The codes that were approved by cabinet would include a generic scorecard which companies would be measured against for procurement purposes.
This will include the codes of good practice on employment equity, skills development, preferential procurement and on enterprise development and socioeconomic development.
"What was clearly emphasised in the cabinet discussion was that we must make more effective use of government tools such as procurement and licensing to further black economic empowerment.
"And we will be looking at aligning and strengthening legislation in future to promote black economic empowerment," said October.