More About BEE
1. BEE Industry
How is BEE Compliance Expressed and what Level is considered Compliant?
How is BEE Compliance Expressed and what Level is considered Compliant?
BEE LEVEL
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SCORECARD POINTS
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PROCUREMENT RECOGNITION
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Level Four is considered fully Compliant.
When must the business entity be compliant?
On 6 January 2004 Government passed into law the Broad-Based Black Economic Empowerment Act, No. 53, 2003. The final B-BBEE Codes of Good Practice are now operational as of the date of publication in the Government Gazette, No. 29617, on 9 February 2007.
Although there are no direct financial penalties that could be applied to non BEE compliant businesses, the system ensures that Procurement managers and Buyers will favor businesses that are compliant since that enhances their own BEE Scorecard under the Preferential Procurement element provisions.
When must the business entity be compliant?
On 6 January 2004 Government passed into law the Broad-Based Black Economic Empowerment Act, No. 53, 2003. The final B-BBEE Codes of Good Practice are now operational as of the date of publication in the Government Gazette, No. 29617, on 9 February 2007.
Although there are no direct financial penalties that could be applied to non BEE compliant businesses, the system ensures that Procurement managers and Buyers will favor businesses that are compliant since that enhances their own BEE Scorecard under the Preferential Procurement element provisions.
B-BBEE ELEMENT
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Points
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What is an Exempted Micro-Enterprise (EME)?An EME is a business that has an annual turnover of R10 million or less
Such businesses qualify for a Level 1 BEE certificate if it has 100% Balck ownership
Do all business entities have to be B-BBEE compliant?Only business enterprises (those classified as 'Exempted Micro Enterprises') with an annual turnover of R10 Million and less will be exempted.
Who are the Verification Agencies
Who is SANAS?SANAS (South African National Accreditation System) is the recognised accreditation body on behalf of the DTI.
SANAS is therefore responsible for overseeing the development and maintenance of the required rating standards in the BEE industry.
Who is ABVA?The Association of BEE Verification Agencies (ABVA) is an independent national membership organisation representing the black economic empowerment (BEE) verification industry.
Such businesses qualify for a Level 1 BEE certificate if it has 100% Balck ownership
Do all business entities have to be B-BBEE compliant?Only business enterprises (those classified as 'Exempted Micro Enterprises') with an annual turnover of R10 Million and less will be exempted.
Who are the Verification Agencies
Who is SANAS?SANAS (South African National Accreditation System) is the recognised accreditation body on behalf of the DTI.
SANAS is therefore responsible for overseeing the development and maintenance of the required rating standards in the BEE industry.
Who is ABVA?The Association of BEE Verification Agencies (ABVA) is an independent national membership organisation representing the black economic empowerment (BEE) verification industry.