The new Preferential Procurement Regulations have arrived as a result of the recently promulgated Preferential Procurement Policy Framework Act (PPPFA). These new regulations are the final part of the jig saw in implementing BBBEE as contemplated in the Broad Based Black Economic Empowerment Act.
In a single line, the key message is that government departments are now compelled to consider compliance to the Codes of Good Practice when evaluating tenders for government business and that all tenders be accompanied by a valid B-BBEE certificate, issued by an accredited verification agency. The PPPFA and new rules are effective as of 7 December 2011. Let us unpack some key considerations for you as follows:
