the impact of the revised bee codes - machine … · the impact of the revised bee codes ......

Trevor Tshabangu 11 May 2017

MACHINE TOOLS

THE IMPACT OF THE REVISED BEE CODESBased on the Revised Codes of Good

Practice

2Sources/assumptions:

WHO IS TRANSCEND?

Consists of 3 companies1. Transcend Capital

• Equity Ownership, Corporate finance2. Transcend Talent Management

• Talent sourcing3. Transcend Corporate Advisors

• Transformation strategies


OUR RANGE OF SERVICE OFFERINGS

TRANSCEND CORPORATE ADVISORSØ Strategy development that makes business senseØ BEE Scorecard verification preparation - making sure you have identified all gaps on your

scorecardØ In-House and Public training courses - on all the pillars of BEEØ BBBEE Scorecard Software - allowing you to track and monitor your Scorecard on all dti

gazetted BBBEE codesØ Scorecard Gap analysis and context briefingsØ Social and Ethics Committee servicesØ Human Capital Services including Employment EquityØ Supplier Verification and Supplier training on expectations regarding BBBEEØ Supplier Enterprise Development - ED from a strategic perspective - empowering your

suppliers

Ø TRANSCEND CAPITALØ Ownership Solutions including Equity Equivalent Programmes, Trusts, Trustee Training,

Broad Based Ownership schemesØ Multinational services - Equity Equivalent programmes without the sale of EquityØ Tender preparation - PPPFA aligned to BBBEE

Ø TRANSCEND TALENT MANAGEMENTØ Sourcing & head-hunting high end talent


A FOUR STEP APPROACH TO IMPROVING B-BBEE LEVEL

Assess current position against RCoGP

Determine targets and timelines

Conduct GAP assessment and scoring levers

Identify initiatives and assess scoring potential

• Determine current CoGP score and RCoGP requirements

• Simulate RCoGP score based on current activity

• Identify risk and opportunity areas

• Verify B-BBEE compliance levels and aims

– Identify targets

– Discuss timelines

• Identify and assess the gap between current score and target score

• Identify priority B-BBEE elements and levers

Approach

• Identify potential initiatives

• Workshop and select initiatives

• Simulate and verify B-BBEE potential score over short, and medium term

Deliverables

• Current scoring against RCoGP

• Risk and opportunity areas

• Company B-BBEE targets and timelines

• Assessment framework for prioritisation

• Priority levers

• Potential initiatives

• Set of B-BBEE initiatives

• Likely score

• Timeline and plan


THE B-BBEE LANDSCAPE

§ The codes were gazetted in 11 October2013

§ Verification manual is still to be released

§ Companies on charters can still be rated on their old charter if a new one is unavailable

§ Fronting is now a criminal offence

§ A BBBEE Commission office has been established

§ Interpretations continue to differ in the verification space. Companies are being verified on the RCoGP nevertheless

SOUTH AFRICA HAS THE LARGEST GAP WORLDWIDE BETWEEN

RICH AND POOR

TRANSFORMATION IS ABOUT..

…THE LEVEL OF

INEQUALITY

RE

DU

CI

NG

SOURCE: Moller, V. (2007). Quality of Life in South Africa, Social Indicators Research, 81(a)

SOURCE: Wilkinson & Pickett, “The Spirit Level (2009); South Africa’s Economic Transformation:

What is transformation A South African hat: a country struggling to align… Life expectancy vs. income


SOME KEY PRINCIPLES

• B-BBEE should grow our business / show R.O.Igrow our business / show R.O.I

• B-BBEE should be aligned with our core strategyaligned with our core strategy

• B-BBEE should not drain our cash (investment)not drain our cash (investment)

• B-BBEE should (ideally) have multiple impacts on the have multiple impacts on the

scorecard or the scorecard or the businessbusiness

•• Alignment to Vision 2030 (NDP)Alignment to Vision 2030 (NDP)


1. I don’t do work for government

2. Preparation for audits – how and when do I start

3. Verification agencies have different interpretations on the same principles

4. BBBEE is an expense

5. I do not want to give away my company (EO)

6. I do not have enough black people to train

7. I am a specialist company that makes sophisticated products and my suppliers are foreign.

8. BBBEE is too complicated and Calculations are difficult

SOME COMMON CHALLENGES IN IMPLEMENTING BBBEE


IMPACT - GENERAL

1. Recognition levels have been increased (Choose points strategy??)2. The BEE elements reduce from seven to five (…8)3. There is a 40% threshold which companies need to meet each of the 3

areas.• Ownership, Skills Development * Enterprise & Supplier Development• if a business does not meet the requirements (40%) they will be

discounted by one level4. The term "Empowering Supplier" has now been introduced and

businesses must apply these.5. Company sizes in terms of thresholds have changed6. Black ownership in the ESD scorecard is now 51% - minimum.7. The Management control element now needs to be measured according

to ethnic groupings but only for Senior, Middle & Junior Management.8. The Skills development target has increased to 6% of payroll and now

includes spend on unemployed learners. Check your SED Strategy9. Bonus points will now be allocated for training and retaining learnerships

in the business. Check your … Ships retention strategy10.Disabilities – key priority especially in Skills (points for Jam)11.Supplier development is a key requirement and carries a higher target

13

≥100 points on the Generic Scorecard

Level One Contributor

≥95 but <100 points on the Generic Scorecard

Level Two Contributor

≥90 but <95 on the Generic Scorecard

Level Three Contributor


Level Four Contributor


Level Five Contributor


Level Six Contributor

≥55 but<70on the onGeneric Scorecard

Level Seven Contributor


Level Eight Contributor

<40 on the Generic Scorecard

Non-Compliant Contributor

Level One Contributor ≥100 points on the Generic Scorecard

Level Two Contributor ≥85 but <100 points on the Generic Scorecard

Level Three Contributor ≥75 but <85 on the Generic Scorecard

Level Four Contributor ≥65 but <75 on the Generic Scorecard

Level Five Contributor ≥55 but <65 on the Generic Scorecard

Level Six Contributor ≥45 but <55 on the Generic Scorecard

Level Seven Contributor ≥40 but <45 on the Generic Scorecard

Level Eight Contributor ≥30 but <40 on the Generic Scorecard

Non-Compliant Contributor <30 on the Generic Scorecard

Old codes New codes

RCOGP : A BREAKDOWN OF B-BBEE LEVELS & SCORES FOR OLD & NEW CODES

8

7

6

5

4

3

2

1

0%

20%

40%

30%

50%

60%

70%

90%

10%

80%

100%

8

6

5

4

3

2

1

7


Qualifying criteria To be actioned by Passing

1 At least 25% of cost of sales excluding labour cost and depreciation must be procured from local producers or suppliers, for service industries, labour costs are included but capped at 15%

2 Job creation: 50% of jobs created are for Black people provided that the number of Black employees since the immediate prior verified B-BBEE measurement period is maintained

3 At least 25% transformation of raw material / beneficiation which include local manufacturing, production and/or assembly, and/or packaging

4 Skills transfer: at least 12 days per annum of productivity is spent deployed in assisting Black EME and QSE beneficiaries to increase their operational or financial capacity

5 At least 85% of labour costs should be paid to South African employees by service industry entities

A B-BBEE compliant entity, compliant with all regulatory requirements of the country and should meet at least three of the following five criteria

WE NEED TO PASS THE EMPOWERING SUPPLIER CRITERION OURSELVES

?Currentl

y onhold!!


PRIORITY ELEMENTS – (IS IT 3 OR 5?)

Priority Elements: B-BBEE Codes of Good Practice (2013)

Priority Elements Description MinimumPoints

LargeEnterprise

Qualifying Small Enterprise

Ownership 40% sub-minimum of the net value points 3.2 out of 8 X X

Skills Development (‘SD’) 40% sub-minimum of the total points 8 out of 20 XMust choose

between either SD

or ESDEnterprise & Supplier Development (‘ESD’)

40% sub-minimum of the points of each of the 3 categories

1. Preferential Procurement 10 out of 25

X2. Enterprise Development 4 out of 10

3. Supplier Development 2 out of 5

Table compiled by CGF Research Institute (Pty) Ltd

• The Broad-Based Black Economic Empowerment (‘B-BBEE’) Codes of Good Practice published in 2013 state that non-compliance with the 40% sub-minimum will result in the following outcomes:

“the actual points scored by the measured entity & the consequent Level the measured entity would have achieved were it not for non-compliance with the 40% sub-minimum requirements will be recognised by the verification agency”

notwithstanding the recognition above, “the measured entity’s B-BBEE status Level will be discounted by one Level down until the next applicable verification period in which the measured entity can demonstrate compliance with the 40% sub-minimum requirements, at which point the recorded Level will become the applicable ratings Level for that measured entity in that verification period”


• "Political freedom alone is not enough without economic emancipation.”

• "We mean fundamental change in the structure, systems, institutions and patterns of ownership, management and control of the economy”

• "Twenty-two years into our freedom and democracy the majority of black people are still economically disempowered”

• “The gap between African and white headed households "remain shockingly huge””

• "The pace of transformation in the workplace ... also remains very slow" (CEE Reports)

• “The business community have accepted these transformation imperatives”

• “Government must utilise to the maximum strategic levers that are available to the state including legislation and procurement spend.

• "Radical economic transformation should mean moving beyond share ownership schemes only. We would like to see black people involved directly in business. The development of the black industrialist programme is thus critical."

Government “levers” to drive Transformation

• Preferential Procurement Framework Act allowing for set asides for black owned businesses

• Significant pressure on mines to transform

• Significant pressure on the ICT sector to transform

• More pressure on banks to transform

• New codes and charters with ownership subminimum

• Black industrialist program

Practical implications & driversZuma 2017 SONA

TRANSFORMATION PRSSURE IS INCREASING - IMPACT

17

EXEMPT MICRO ENTERPRISES

Turnover threshold Black ownership BEE recognition

level Audit requirement

Less than R10 million per

annum

100% 1 Affidavit

> 51% but < 100% 2 Affidavit

0% but < 51% 4 Affidavit

18

EXEMPT MICRO ENTERPRISES - IMPACT

• The increase in thresholds allows for less red-tape for small businesses.

• Procurement scorecards for other businesses may improve

• Better concentration on business productivity for small businesses

• Bigger ED/SD pool for large enterprises

19

QUALIFYING SMALL ENTERPRISE

Turnover threshold Black ownership BEE recognition

level Audit requirement

More than R10 million but less than R50million

per annum

100% 1 Affidavit

> 51% but < 100% 2 Affidavit

0% but < 51% Based on audit outcome QSE Scorecard

20

QUALIFYING SMALL ENTERIPRISES - IMPACT

• The increase in thresholds allows for less redtape for small businesses.

• Procurement scorecards for other businesses may improve

• Better concentration on business productivity for small businesses.

• Bigger ED/SD pool for large enterprises• Unintended consequence: A 51%/100%BO business

is a sizable company and it must comply with all elements of the scorecard?

21

The current seven Scorecard elements will be reduced to five elements; Management Control is combined with Employment Equity, and Enterprise Development with Preferential Procurement.

Old Codes New Codes

Ownership 23 25

Management control 11 9

Employment equity 15 10

Skills development 15 20 + 5

Preferential procurement 20 25 +2

Enterprise development / SupplierDevelopment 15 5 + 10+2

Socio-economic development 5 5

Total 104 109 + 118

RE-WEIGHTING IN ORDER TO REFOCUS

22

SOCIO-ECONOMIC DEVELOPMENT IMPACT

• Non-employees now fit into SED – re-look at strategy• Re-look at skills strategy in relation to SED• Bursaries strategy – fine-tuning

23

ENTERPRISE & SUPPLIER DEVELOPMENT MODEL

Note: Different charters will have different weights and targets

24

Criteria Points Target

B-BBEE procurement spend (‘spend’) from all empowering suppliers 5 80%

Spend from all empowering suppliers that are QSEs 3 15%

Spend from all EMEs*** 4 15%Spend from empowering suppliers that are at least 51% black owned based 9 40%

Spend from empowering suppliers that are at least 30% black women owned based 4 12%

Spend from designated group suppliers that are at least 51% black owned (bonus points) 2 2%

Total 27

PREFERENTIAL PROCUREMENT (PRIORITY SUB-MIN IS 40% OF 25 = 10 POINTS)


SOME TRANSFORMATION PRESSURES IN ESD - IMPACT

• Increase in procurement targets against weightings (12 vs 5)

• Black ownership (50% vs 51%)• Black ownership targets in procurement (15% vs 40%)• Localisation through imports inclusions where

necessary.• Split in EMEs & QSE scorecards and targets• Supplier development focus as a principle• Requirement of Supplier development plans• Higher target on Enterprise development in ICT sector.

26

ENHANCED RECOGNITION: PROCUREMENT SPEND - IMPACT

Criteria RecognitionFactor

Supplier development beneficiary who has a minimum 3 year contract with the measured entity 1.2

Black owned QSE or EME who is not a suppliers development beneficiary but has a minimum 3 year contract with the Measure Entity

1.2

First time suppliers to the measured entity 1.2

27

IMPORTS & EXCLUSIONS - IMPACT

• there is no existing local production for such capital goods or components; and

• Importing those capital goods or components promotes further value-added production within SA

Imported capital good or components for value-added production in SA can be excluded provided that;

Imported goods that carry a brand different to the locally produced goods or services or have different technical specification to the locally produced goods will be excluded subject to having developed and implemented an enterprise development and supplier development plan for imported good and services

Impact: Imports strategy changes

28

Chapter fourExpense Items for Inclusion Rand Value

(Please complete)1) Cost of sales2) Operational expenditure3) Capital expenditure4) Labour Brokers and Independent Contractors5) Pension and Medical Aid Contributions6) Trade Commission’s7) Imports8) Intra-group ProcurementTOTAL INCLUSIONS

CALCULATING THE TOTAL MEASURED PROCUREMENT SPEND

29

Chapter four

Expense Items for Exclusion Rand Value(Please complete)

Less: 1) Taxation2) Salaries, wages , remuneration and emoluments3) Pass-through third-party procurement4) Empowerment related procurement5) Imports • for value-added production in SA• no existing local production• importing goods will promote further value-added productions in SA

• different brand or specification are subject to localizationTOTAL EXCLUSIONS

Total measured spend Rand Value(Please complete)

Total Inclusions

Less: Total Exclusions

CALCULATING THE TOTAL MEASURED PROCUREMENT SPEND

30

PREFERENTIAL PROCUREMENT PROCESS

Example: Ladder of hierarchy

Black-owned, EMEBack-owned, Rated, QSE

EMERated, QSE

Black-owned, Large, RatedLarge, Rated

Large, Empowered, Not RatedLarge, Not Empowered, Intent

Large, Not Empowered, No Intent

High Preference

Low Preference

31

Category Criteria Points Target

Supplier Development (‘SD’)

Annual value of all SD contributions made by the entity as a % of the target 10 2% NPAT

Enterprise Development (‘ED’)

Annual value of all ED contributions & sector specific programmes made by the entity as a % of the target

5 1% NPAT

Bonus Points

Bonus points for graduation of 1 or more ED beneficiaries to graduate to the SD Level 1

Bonus points for 1 or more jobs directly as a result of SD & ED initiatives 1

Total 17

ENTERPRISE SUPPLIER DEVELOPMENT (PRIORITY TARGET IS 40% OF 10 & 5 POINTS RESPECTIVELY)

QUALIFYING CRITERIA FOR ELIGIBILITY UNDER ED:

EME & QSE’s which are at least 51% black owned or at least 51% black women owned. (black owned means must have earned all net value points)

Impact: 51% BO, 50m t/over, Development plan

32

SUPPLIER DEVELOPMENT (SD) BEST PRACTICE

Supplier Development Plans must have:

§ Clear Objectives§ Priority Interventions§ Key Performance Indicators§ Implementation Plan with clearly articulated milestones

Cannot “double dip” on supplier and enterprise development,but could do 3% of NPAT on supplier development and get full score

QUALIFYING CRITERIA FOR ELIGIBILITY UNDER SD:

Are ED beneficiaries who are also suppliers, & have had a needs analysis conducted as the basis of engagement


• Strategic investment – related value offerings

• Courtship / joint venturing

• Collaboration

• Courting future distributors

• Courting future customers

• Courting future owners

Black Economic Empowerment - B-BBEE Plan

ENTERPRISE DEVELOPMENT BEST PRACTICE

34

WHAT TYPE OF CONTRIBUTIONS QUALIFY AS ESD?

Grant and related contributions Contribution amount Benefit factor

Grant contribution Full grant amount 100%

Direct cost incurred in supporting Enterprise & Supplier Development

verifiable cost (including both monetary and non-monetary) 100%

Discounts in addition to normal business practices supporting ED

Discount amount (in addition to normal business discount) 100%

Overhead costs incurred in supporting Enterprise & Supplier Development (including people appointed in ESD)

Verifiable costs (including both monetary and non-monetary) 70%

Loans and related contributions Contribution amount Benefit factor

Interest-free loan with no security requirements supporting ED Outstanding loan amount 70%

Standard loan with no security Outstanding loan amount 50%

Guarantees provided on behalf of a beneficiary entity supporting ED Guarantee amount 3%

Lower interest rate supporting ED Outstanding loan amount prime rate – actual rate

35

Equity Investments and Related Contributions (Capital)

Minority Investment in ESD Investment Amount 70%

ESD Investment with lower dividend to financier

Investment Amount

Dividend Rate of Ordinary Shareholders– Actual Dividend Rate

of Contributor

Contributions made in the form of human resource capacity (Skills)

Professional Services rendered at no cost Commercial hourly rate of professional

60%

Professional services rendered at a discountValue of discount based on commercial hourly rate of professional

60%

Time of employees of measured Entity productively deployed in assisting beneficiaries

Monthly salary divides by 160Percentage of invoiced amount

60%

Other contributions (Cashflow)

Shorter payment periods for Supplier Development Beneficiaries(maximum points that can be earned is 15% of 10 points)

Percentage of invoiced amount X 15% (being an approximation of the cost of short term funding)

Percentage of 15% less the number of days

invoiced from payment

WHAT TYPE OF CONTRIBUTIONS QUALIFY AS ESD?

36

ADDITIONAL CHANGES

Black executive directors are counted in both board participation (as voting rights) and as individuals in the category ‘Black executive directors’ eg CEO, CFO, COO

Executive management excludes executive directors ie they do not have voting rights on the board. Eg Human resources, IT , etc


Board Participation

Voting rights held by black board members 2 50%

Voting rights held by black female board members 1 25%

Black executive directors 2 50%

Black female executive directors 1 25%

Executive Management

Black executive management 2 60%

Black female executive management 1 30%

MANAGEMENT CONTROL

37

MANAGEMENT CONTROL


Senior ManagementBlack employees in senior management 2 60%

Black female employees in senior management 1 30%

Middle ManagementBlack employees in middle management 2 75%

Black female employees in middle management 1 38%

Junior ManagementBlack employees in junior management 1 88%

Black female employees in junior management 1 44%

Employees with disabilities Black employees with disabilities 2 2%

Total 19

ADDITIONAL CHANGESThere is no longer a 40% sub-minimum that must be achieved in order to earn points for Employment Equity

All the compliance targets, except for board and executive management are based on the overall demographic of people defined in Commission for Employment Equity Report – iether regional or national EAP

(See calculation overleaf)

The ‘adjusted recognition for gender ’ principle has been deleted, instead there are criteria specifically dealing with black females within the Scorecard itself

38

Economically Active Population (E.A.P) as of 2013/14

• African male = 40.3%• Coloured male = 5.6% • Indian male = 1.9%,• African female = 34.9%• Coloured female = 5.0%• Indian female = 1.2%

Regional EAPs can be used for regional businesses

ECONOMICALLY ACTIVE POPULATION

Targets are aligned to the Commission for employment equity report on a national basis

MANAGEMENT CONTROL – THE CALCULATION

39

HUMAN CAPITAL (MANAGEMENT CONTROL - IMPACT)

• EAP Targets now used for Senior, Middle & Junior• EAPs don’t apply to Disabilities & Board & Executives• Changes in formulars• Provincial / National targets application – How?

40


Skills Development Expenditure on any Programme specified in the Learning Programme Matrix for black people as a % of the leviable amount

Skills development expenditure for black people. (split over EAP) 8 6% of payroll

Skills development expenditure for black employees with disabilities(not split over EAP)

4 0.3% of payroll

Learnerships, Apprenticeships & Internships

Number of black people participating in CAT B,C,D as a % of total employees. (split over EAP)

42.5% of

permanent employees

Number of black unemployed people participating IN CAT B,C,D as a % of total employees. (split over EAP)

42.5%

of permanent employees

Bonus Points

Number of black people absorbed by the measured and industry entity at the end of the learnership programme. (not split over EAP)

5 100%

Total 25

SKILLS DEVELOPMENT IN RCOGP IS ALSO EAP ALIGNED

41

SKILLS DEVELOPMENT IMPACT

1. Target increase from 3% to 6% payroll2. EAP targets in all areas except disabilities3. Challenge for disability employees (Targets)4. Inclusion of external bursaries in skills instead of SED5. Capping of categories F & G instead of G only6. Mandatory training – now excluded7. Split target for learnerships/apprenticeships8. Absorption criteria9. Misalignment in terms of learnerships understanding

42


Voting Rights

Exercisable voting rights in the hands of black people 4 25%

+ 1 Vote

Exercisable voting rights in the hands of black women 2 10%

Economic Interest

Economic interest in the entity to which black people are entitled 4 25%

Economic interest in the entity to which black women are entitled 2 10%

Economic interest in the entity to which black people are entitled of any of the following black people:(1) designated groups(2) participants in employee share ownership programmes(3) people in broad-based ownership schemes(4) participants in co-operatives

3 3%

Economic interest in the entity of black ‘new entrants’ 2 2%

Realisation Points Net value 8 2.5%

Total 25

OWNERSHIP (PRIORITY ELEMENT BASED ON 40% OF 8 = 3.2 NET VALUE POINTS

Champions Course

HOW ARE YOU GOING TO MANAGE THE PROCESS OF TRANSFORMATION?

Black Economic Empowerment - B-BBEE Plan

•Building a current state•Assessing systems•Querying suppliers

•Understanding transformation

•Surfacing ideas

•Tactical & strategic analysis•Brainstorming for strategic fit•Process & project review

•Subject matter experts•Project managers

Project plan

EXCO

30 day cycles

BBBEE COMMITTEE

HOW DO I RESPOND TO BEE?

Champions Course

ESTABLISH A TRANSFORMATION COMMITTEE

Exco

Management led process

Subject matter expert

BBBEE champion

All employees

New employees

SOURCE: “Everyone's Guide to BEE, Woolley (2008)

LEVELS OF B-BBEE UNDERSTANDING


ROLES & RESPONSIBILITIES OF THE BEE COMMITTEE

1. Training and Development• Your team needs to understand what transformation is all about.• The team must be aware of their actions (eg Purchasing from a non-

compliant supplier)

2. Capturing and recording• Your team must understand what to capture, how and why• Recording and or collation of data must be a “daily” routine• Capture as it happens.

3. Dashboard reporting• At any given point, one must be able to know how your area is

performing• There is a need to keep a tab on all areas (high level of where the

business BEE performance is at – BEE level)

4. Monitoring and evaluation• Keep a tab on current and forecasted performance• Raise a flag where you see risk


ROLES & RESPONSIBILITIES OF BEE COMMITTEE

1. BBBEE Audit preparation• Prepare as the year goes by (daily/weekly/monthly)• Track and check with the Verification Agency (VA) on

requirements (old & New)• Engage the VA / Consultant timeously on interpretive

issues.• Engage the VA / Consultant on proposed interventions (do

they qualify or not)• Your team must collect, collate and file supporting evidence

as the year goes by

2. Post BBBEE Audit• Engage the VA to understand short comings and feedback

on the audit.• Devise new processes and systems of bettering the next

audit (eg Skills development took 2 days last year, this year it must be 1 day or less)

• Engage finance and other departments to smoothen your processes

• Always build a strategy and roadmap for the year ahead (IRO budgets, processes, resources etc)


HOW DO I RESPOND?

Option Key actions points & Related costs Person responsible & support

Supplier development

Key supplier dialogue

Supply chain anlaysis


SOME COMMON CHALLENGES IN IMPLEMENTING BBBEE

Option Key actions points & Related costs Person responsible & support

Management Control

Skills development

Disabilities

Champions Course

HOW WILL YOU CREATE A NEW REALITY?

Old structure

Old processes

Old thinking

Re-generating

Uncovering current reality Creating a new reality

Newstructure

Newprocesses

New thinking

Re-structuring

Re-designing

Re-framing

Re-acting

Strategic responseChallenge

SOURCE: Scharmer (2008)

TREVOR TSHABANGU CONTACT DETAILS

[email protected] 55 33 22 4

www.transcend.co.za

Tel. 011 442 2433Fax. 011 442 24441st Floor, Grapnel House, 3 Glenhove Road, Melrose Estate,[email protected]

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COPYRIGHT AND CONTACT DETAILS

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