The Blog of Cenfed BBBEE Verification Agency. For all things regarding BBBEE Certificates, BBBEE Verification and BBBEE codes.
A large number of verification agencies exist in South Africa to assist business owners with obtaining their Broad-Based Black Economic Empowerment (BBBEE) certificates every year. These agencies play an essential role in the effective implementation and functioning of BBBEE policy; most medium and large-sized businesses cannot acquire BBBEE certificates on their own. While the smallest enterprises – Exempt Micro Enterprises (EMEs) may be able to, even they often rely on verification agencies for advice and support. The scorecard is complicated
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Because of the wide range of benefits that Broad-Based Black Economic Empowerment (BBBEE, or BEE for short) compliance can confer, many businesses in South Africa are looking for ways to achieve a good rating on the scorecard. Level 1 is the highest ranking (there are eight levels in total), and the goal is to get as close to this as possible. The higher your score, the better your chances of preferential procurement and success in government tenders, and the bigger your contribution to the
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Since the amendments to the Codes of Good Practice for Broad-Based Black Economic Empowerment (BBBEE) came into effect in May 2015, there has been considerable confusion among businesses as to what it means for their BBBEE score going forward. The new Codes, which supplement the Broad-Based Black Economic Empowerment Act, No. 53 of 2003, introduced some big changes for scoring. While there was concern about having ratings lowered, there has been scope for certain businesses to actually improve their position. The goal for organisations now is
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If you are new to the process of Broad-Based Black Economic Empowerment (BBBEE or BEE) accreditation, it may seem complicated, even overwhelming. But in reality, it doesn’t have to be. A good BBBEE verification agency can assist you with accreditation, ensuring your experience is smooth and hassle-free. But where do you begin? In this article, we explain how to get started on BBBEE accreditation so that you know where you stand and what to do. As a first step, it
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If you’re considering undergoing Broad-Based Black Economic Empowerment (BBBEE or BEE for short) verification, you might be wondering what you are about to sign yourself up for. You’ve probably heard that BBBEE verification procedures can be prolonged and expensive, and that they are stressful and frustrating. In this post, we seek to dispel these myths – for myths they most certainly are, as long as you go through an accredited, reliable BBBEE verification agency. The first step in BBBEE verification
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To boost your chances of success in the South African business landscape, taking the time to work on your Broad-Based Black Economic Empowerment (BBBEE or BEE for short) scorecard is strongly recommended. Not all companies face the same requirements for BBBEE accreditation – they differ according to size and, to an extent, industry. In this post we look at the BBBEE requirements for companies of different sizes, highlighting the main differences in order to give you a clearer understanding of
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If you are thinking about undergoing BEE certificate verification, you may be wondering what the process will entail, and what documents will be required. You might have heard rumours that it is a long and complicated procedure, with veritable tomes of papers needed. Provided that you work with a reputable, accredited verification agency, however, BEE certificate verification can be a smooth, streamlined undertaking. Here’s what you’ll need. The scorecard for Broad-Based Black Economic Empowerment (BBBEE or BEE) has eight rankings,
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For businesses in South Africa, the Broad-Based Black Economic Empowerment (BBBEE or, more commonly, BEE) scorecard can be a source of great stress and frustration. Getting your BEE rating calculated and verified is key to developing your business and operating successfully in the country. Higher rankings enable you to do business with larger companies and government departments, and open up possibilities to become preferred suppliers and tender applicants. But the verification process can be confusing and complicated – unless, that
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While Broad-Based Black Economic Empowerment (BBBEE) verification may not be compulsory for businesses in South Africa, it is highly recommended. We often hear this in the media and in business discourse. Business owners may feel a sense of pressure to get verified, while simultaneously wondering how it will help their business – and how they could begin to go about it. BBBEE verification can seem like a long, arduous process – leaving many asking, is it even worth it? The
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You’ve read the articles on why Broad-Based Black Economic Empowerment (BBBEE or BEE) is important and how it can help your business in South Africa. You’ve discussed getting verified and are thinking about doing it. At this stage, you’re probably wondering how the system actually works – what are the different ratings, and how do you get them? In this article, we explain the ins and outs of BEE verification ratings, to give you a better understanding that will help
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