What is the aim and purpose for having the B-BBEE Act?

The B-BBEE Act, was established in response to criticism against Narrow Based Empowerment instituted in South Africa during 2003/2004. While Narrow Based Black Economic Empowerment led to the enrichment of a certain designated groups, i.e. Black African, Coloured and Indian individuals, the goal of Broad-Based Empowerment is to distribute wealth across a broad spectrum of South African society as possible.  

B-BBEE elements

The elements of the scorecard are as follows according to the “New Codes”:

b-bbee - update

 

 

 

 

 

 

 

 

In partnership with our Associates who are specialists in the field, we offer the following B-BBEE services:

 

B-BBEE Consulting:

  • Assess/Analyse your current BEE status.
  • Give guidance on how you can score maximum points on each of these elements.
  • Design sustainable strategies and plans to improve your BEE score.
  • Monitor progress on a monthly basis.
  • Assist with the implementation of BEE strategies.
  • Simplify the verification process.

File Preparation:

  • Assist with file preparation for your BEE audit.   Compiling all the necessary documents for each of these elements, as per the verification agency’s request.
  • Provide additional assistance throughout the audit process.

B-BBEE Scorecards/Certificates

  • BEE Certificates can be issued by any Verification Agency, accredited by either SANAS or IRBA.
  • The Certificate can only be issued once a full verification has been performed and the documentation presented by your company has been verified.
  • The certificate is valid for a period of one (1) year from the date of issue and needs to be renewed on an annual basis.
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