Central Gauteng Squash - Egoli Squash program  has been recognised

as a 100% BEE SED organisation structure.


A company or enterprise or state owned business that wishes to gain valuable B-B BEE points on their SED Scorecard can do so by making donation to EgoliSquash, this includes funds as well as equipment or other non –monetary contributions  including training and mentoring.

An individual tax payer can also gain a tax benefit from making a donation.
An appropriate receipt will be issued on receipt of the funds and equipment.

The thinking behind the socio-economic element is rooted in the government's aim of bolstering corporate social investment (CSI), particularly in poor communities, and providing access to the economy for those previously excluded from participating formally.Here the Department of Trade and Industry mirrors government aims to promote economic improvement and job creation in areas and to persons often left out of BEE's intended beneficiaries. By helping black people and communities with an opportunity to generate an income themselves, companies will be equipping these beneficiaries with the chance to participating positively in the economy.

 

Recognition of socio-economic development contributions:


Socio-Economic Development Contributions consist of monetary or non-monetary, recoverable or non-recoverable contributions actually initiated and implemented in favour of beneficiary entities with the specific objective of facilitating sustainable access to the economy.

 

Cumulative contributions:


In a similar way to the enterprise development, socio-economic development is measured on a cumulative basis rather than annually. By measuring contributions on a cumulative basis, the Department of Trade and Industry is ensuring that companies in a cyclical industry or vulnerable to fluctuations in profit will not be penalized if they don't manage to make a contribution in any given year.

Socio-Economic Development contributions are recognized on a cumulative basis:

  • from the commencement date of the Codes
  • or from an earlier date chosen by the company (inception date) until the date of measurement but the inception date chosen must not be earlier than five years before the commencement of the Codes.

Socio-Economic Development contributions include:

  • grant contributions
  • guarantees given or security provided for beneficiaries
  • direct costs incurred by a company in assisting beneficiaries
  • overhead costs of a company that are directly attributable to Socio-Economic Development contributions
  • developmental capital advanced to beneficiary communities
  • preferential terms granted by a company for its supply of goods or services to beneficiary communities
  • payments made by a company to third parties to perform social development on its behalf
  • provision of training or mentoring to beneficiary communities which will assist them to increase their financial capacity
  • the maintenance by the company of a social development unit which focuses only on support of beneficiaries and beneficiary communities.