Defense Sector Code adopted
The sector codes were gazetted by the Minister of Trade and Industry in November 2018 to enable, inter alia, sector specific transformation of the defence industry. The key highlight of the sector code stipulates that companies must procure at least 60% of defence materials produced locally, as well as locally produced technologies. The other key highlight is that the black ownership target has been increased to 30%, which is higher than the 25% benchmark of the generic codes.
Type: Entry and establishment (Ownership and control), Treatment and operation (Operational conditions)
Industry: Manufacturing (Manufacture of machinery and equipment n.e.c.), Services (Wholesale and retail trade)
- South Africa News, B-BBEE defence sector codes gazetted, Nov 13, 2018
- The DTI, Broad - Based Black Economic Empowerment Defence Sector Code of Good Practice, Nov 09, 2018