BEE SED was never intended to displace corporate social responsibility/investment of companies, but its intention is to alleviate inherent social challenges confronted by a specific group of the society through no design of theirs as an add on to corporate social responsibility. Thus companies must continue to do their CSI in spite of the BEE SED.
"The principle in the proposed BEE SED element still remains the same except the target has been adjusted to 100% as we are cognisant of the intended objectives of BEE. However, if less than 100% of the full value of the SED contributions directly benefits black people, the value of the contribution made multiplied by the percentage that benefits black people, is recognisable," said the department.
I think that they don't understand the link between BEE points and donations. Increasing the number to 100% is racist and actually impossible to manage.
The fact still remains that people give because of BEE points and 25% of those donations do not have to go to black people – this is equitable.
And they can backtrack as much they like, the code is still the same and is not pro-rated.
Don't trust them, don't vote ANC, stay away from the SACP – because it's a commie who is leading this charge; and continue making your voice heard about this document.