Socio Economic Development - Definitions

• Socio-Economic Development requires the user to capture the specific individual Socio-Economic Development beneficiaries, either manually or via a spreadsheet (the template for the spreadsheet is made available for download when clicking on the “From a Spreadsheet” button.  Please note that the system has been designed to reject any upload where changes have been made to the structure of the template).

• Socio-Economic Development Contribution Types – These needs to be captured as there are certain weightings attached to each contribution type as is illustrated in table 4.1.
• Black Beneficiary % - the black beneficiary % is confirmed by an independent party such as an auditor. The full value of the Socio Economic Development contributions is recognisable if at least 75% of the value of the contribution directly benefits black people.  If less than 75% of the value of the Socio Economic contributions directly benefits black people, the value of the contribution made is multiplied by the percentage that benefits black people.

 Table 4.1

• For documentary requirements or a template of what a SED acknowledgement letter would look like, please click here.