Welcome

WHAT IS BBBEE?

Broad-Based Black Economic Empowerment is an integrated and coherent socio-economic process that directly contributes to the economic transformation of South Africa and brings about significant increases in the number of black people that manage, own and control the country’s economy, as well as significant decrease in income inequalities.

WHY DOES A BUSINESS ENTITY NEED TO BE BBBEE VERIFIED?

Broad Based Black Economic Empowerment is an initiative and commitment by the South African Government to create economic growth through policies of job creation, enhancement of human potential, encouragement of black-owned businesses and socio-economic development. Private businesses have the opportunity to participate in this process by meaningful involvement in the seven elements of the balanced scorecard for BEE. Thus, when an entity is BEE verified a cascade effect is achieved, whereby every company that has a BEE status could affect the BEE status of their customers. This could foster entrepreneurship and innovation, improving overall competitiveness.

BBBEE has been designed with investment in mind Ð establishing a path to prosperity for all South Africans.

Most companies are interdependent on one another and in order for businesses to be part of the BEE process it makes good business sense for companies to be verified. A company that has been verified will have a good indication on the way forward with regard to formulating a BEE strategy. In this way businesses will also be supporting their customers that are in the process of being BEE verified.