BBBEE Codes Of Good Practice
The recent amendments to the Broad-Based Black Economic Empowerment (B-BBEE) Codes of Good Practice require large entities to spend a portion (2,5%) of their annual payroll (leviable amount) on bursaries for black students at Higher Education Institutions in order to earn points under the Skills Development element of the B-BBEE scorecard.
This move towards increased support of students has shown government’s trust and encouragement for corporates to play their part in assisting more students gain access to tertiary education.
The challenge of access to higher education
According to a General Household Survey In 2017, 1.4 million individuals aged 18-24 reported that they did not attend any educational institutions because they had no money for fees. The report further shows that the number of graduates from public higher universities more than doubled from 92 874 in 2000 to 203 076 in 2016.
South Africa has made great progress and TTI has been in the forefront of helping students access tertiary funding opportunities and supporting them throughout their educational journey for years.
Let's build your bursary fund today
Frequently asked questions
We ensure that all the money we spend on your behalf is strictly on education line items qualifying under the B-BBEE code and pay students that match your EAP targets. We have been achieving full compliance for years and have experience in reporting for verification processes.
We have a student database of thousands of students to select from in various institutions across the country in different disciplines. This means that we can source students that meet your criteria within short notice. Our bursary management system uses technology that allows agile payments and reporting.
Over and above the financial support we provide students, we offer mentoring, coaching and psychosocial support to assist them throughout their studies and prepare them for the world of work and entrepreneurship. We maintain the relationship between the funder and the beneficiary. We know that our funders care about their brand and TTI will ensure that a bursary programme attached to their name maintains the same values and standards.
Besides being a B-BBEE Level one contributor, there are additional points to gain under the Supplier and Enterprise Development category of the codes for working with TTI as an empowering supplier. Contact us to discuss more.
We charge an administration fee which covers the cost of running the bursary programme and supporting the students. All our services are inclusive in the admin fee.