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WHAT IS BB-BEE?


Broad Based Black Economic Empowerment (BEE) is a national transformation programme launched by the Government to give previously disadvantaged groups economic opportunities that were previously unavailable to them.

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The Codes of Good Practice measures a companies’ empowerment progress in seven areas:

  • Ownership
  • Management Control
  • Employment Equity.
  • Preferential Procurement
  • Skills Development
  • Enterprise Development
  • Socio-Economic Development

The codes are binding on all state of bodies and public companies, and the government is required to apply them when making economic decisions on:

  • Procurement
  • Licensing and concessions
  • Public-private partnerships
  • The sale of state-owned assets or businesses

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AFFORDABLE B-BBEE VERIFICATION SERVICES

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ADVANTAGES OF BB-BEE VERIFICATION

Compliance certificates issued by verification agencies are a requirement in a wide range of business situations including

  • Proposals for business with government
  • The licensing of regulated activities which include mining, liquor sales and the granting of credit
  • Leasing of premises from government or private businesses
  • The creation or continuance of business relations with clients seeking assurance of your BEE compliance.
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With strong empowerment credentials, companies impress customers and partners, increase market share and become eligible to win government tenders. On the other hand without credentials, organisations will find themselves increasingly sidelined as BB-BEE becomes a non-negotiable requirement not only for government, but for commercial undertakings as well. Obtaining an empowerment rating is definitely worth
the investment.