BROAD-BASED BLACK ECONOMIC EMPOWERMENT BENEFITS
- As a registered NPO working to bring hope, skills and opportunity to the marginalised, The Sozo Foundation is perfectly positioned to assist partners in meeting requirements for B-BBEE compliance in Skills Development and Socio-Economic Development.
- B-BBEE presents companies with an opportunity to align skills spent with initiatives and values that are meaningful to your company.
- We offer our partners the benefit of being able to fulfil more than one element on the scorecard, allowing organisations to better structure their contributions to achieve maximum points.
- The Sozo Foundation is an established and trusted partner, with robust governance and strong fiscal management. We have received clean professional audits year on year since inception and have maintained a Level 1 B-BBEE status.
- Being a registered Non-profit and Public Benefit Organisation means that quantifiable (invoiced) product or financial donations to The Sozo Foundation, from within 10% of your company’s gross annual income, are tax deductible.
- Marketing opportunities for example, through branding of sponsored mobile barista units, implying further return on your social and marketing/PR investment.
- Opportunity to broaden the recruitment pool for your company’s entry level vacancies.
- Various staff involvement opportunities.
SKILLS DEVELOPMENT: Depending on the size of the organisation, enterprises are required to spend 3-6% of payroll costs on skills development. Of this, Category F and G may contribute 15%. The amended code states that beneficiaries do not have to be the entity’s employees, but can also be qualifying black people in general.
The Sozo Foundation is able to assist companies seeking to maximise their points in this priority element. We work closely with our partners to ensure efficient, recognisable skills development spend that is targeted at deserving candidates in the correct demographics. Our various initiatives equip youth beneficiaries with the hard and soft skills needed to flourish in all areas, as they seek to enter the job-market.
This training qualifies for Category F and G of the Skills Development code: informal, work-based training, which leads to an increased understanding of work or improved performance in skills. We offer two fully accredited courses for our youth beneficiaries – a General Education Diploma Certificate and Software Development course, in partnership with CodeSpace Academy, an accredited MICT SETA institution.
Socio-Economic Development: An entity may obtain a maximum of 5 B-BBEE points for spending 1% of net profit (after tax) on SED contributions, where 75% of the value directly benefits black people. In particular, education has been identified as a core socio-economic development initiative.
The Sozo Foundation is a verified SED partner. In excess of 75% of the value of benefits accrues to black people, and therefore any SED donations are fully recognisable for this element.
Our training, development and coaching models not only meet the requirements of the law but are also according to the spirit of the law, which places emphasis on educational and job-creating activities.
As a registered NPO, we may also issue S18A tax certificates for any individual, CSI or SED donations received.