The Upcoming Transformation in Transport Sector Codes

Published by: Melanie Rajah The Transport Industry, a pivotal player in economic dynamics, is gearing up for a significant shift with the imminent update of its sector codes. Operating under its established set of codes since 2009, the transport sector is aligning with the Department of Trade and Industry's (DTI) Codes of Good Practice. The anticipated release of the new codes by the end of this year will bring about transformative adjustments, set to take effect on March 1, 2024. Key Changes Unveiled: 1.Ownership Control Evolution: EMEs and QSEs face a recalibration in ownership control evaluation, adopting the flow-through model. Enhanced recognition and points for Black New Entrants, accompanied by nuanced adjustments in definition and qualification. 2. Unified Focus on Management Control and Employment Equity: A consolidation of Management Control and Employment Equity into a singular entity. Emphasis on Black Female inclusion within this consolidated framework, with non-submis...