B-BBEE was initiated by the South African Government to help those who were formerly seen as disadvantaged because of the old apartheid legislation. In South Africa, the term “black people” is defined as any person belonging to African, mixed race or Asian ethnicity.
Black People- A generic term which means African, people of Mix Race and Indians who has the following characteristics:
- Citizens of South Africa by birth or descent: or
- or those who became citizens of South Africa by naturalization (I) before 27 April 1994 (II) or after 27 April 1994 and who would have been entitled to acquire citizenship by naturalization prior to that date.
For New Businesses:
If your annual turnover is below R 10 million you qualify as an Exempt Micro Enterprise:
If your company is 100% black owned, you will get a Level 1 BEE Verification – the best level available – Guaranteed.
If your company is white owned, you will get a Level 4 BEE Verification – level 4 is within the top 50% of all BEE levels – Guaranteed.
If your black ownership is between 51% and 99%, you will get a Level 2 BEE Verification – Guaranteed.