The Financial Sector Code Scorecard
Untitled 1

8.1             The following table represents the Scorecard and contains the:

8.1.1        Elements of the scorecard;

8.1.2        Weightings; and

8.1.3        Financial Sector Code series reference that specifies the mechanisms for measurement and calculation of each of the elements of the scorecard (Code series 100 � 800).

 

Element

Available Points

% Weighting

Primary Reference

Ownership

14 + 3 bonus

14%

Code series FS100 to be read with Code series 100 of the Generic Code

Management Control

8 + 1 bonus

8%

Code series FS200 to be read with Code series 200 of the Generic Codes

Employment Equity

15 + 3 bonus

15%

Code series FS300 to be read with Code series 300 of the Generic Codes

Skills Development

10

10%

Code series FS400 to be read with Code series 400 of the Generic Codes

Preferential Procurement

16

16%

Code series FS500 to be read with Code series 500 of the Generic Codes

Empowerment Financing

15

15%

Code series FS600

Enterprise Development*

5

5%

Code series FS600 to be read with Code series 600 of the Generic Codes

Socio-Economic Development

3

3%

Code series FS700 to be read with Code series 700 of the Generic Codes

Access to Financial Services

14

14%

Code FS800

Total

100 + 7 bonus

100%

 

 

*For Measured Entities that are exempted from Empowerment Financing, the total number of points available shall be 95 + 7 bonus. This is as a result of having only 15 points available for Enterprise Development and zero available for Empowerment Financing, whereas enterprises that are not exempt from Empowerment Financing have 5 points available for Enterprise Development and 15 available for Empowerment Financing. For measured entities that are exempted from Empowerment Financing, the Enterprise Development Measurement Principles, Scorecard and Benefit Factor Matrix shall align completely with all the provisions of Code series 600 of the Generic Codes. Therefore, the Recognition level of these entities shall be based on the score obtained via the following formula:

A = (B/95) x 100

Where:

A = the deemed score achieved (to be applied to the table under paragraph 8.2 below)

B = the total number of points achieved (including Bonus Points)

The same principle shall apply to measured entities that are exempt from both Empowerment Financing and Access to Financial Services or to measured entities that are exempt from only Access to Financial Services.

 

   
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