BEE Verification

Need a new BEE Verification for Tenders or Contracts? We offer LEVEL 1 – 4 Verifications within 48 hours. 

 

The South African government has initiated the BBBEE (Broad-Based Black Economic Empowerment) initiative to address the historical imbalances of the country by facilitating the participation of black people in the mainstream economy. It is a broad based scorecard system which allows you to earn points in various areas. BEE verifications are important because they indicate your company’s level of BEE compliance and will positively impact your business.

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Advantages:

(1) Funding

Government and larger companies tend to invest in smaller BEE compliant companies.

(2) LEVEL #1 – the best you can find for tenders and contracts!

Through our accounting board, SAIBA, we can register you for the highest possible BEE Level. Using SAIBA’s scoring method, you could qualify for a Level 1 BEE Verification depending on your Company’s black ownership – at worst you will get a ‘Level 4’ Verification. This is still much better than the ‘Level 8’ Verification which many Companies have.

(3) Business Growth

A BEE Verification is useful to use in your marketing material, to attract new business opportunities.

(4) Get Tenders & Contracts

Once your company is BEE compliant, you have the advantage over non-compliant companies when applying for Tenders and Contracts.

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Requirements:

  • A Share Certificate. The Shareholders of the Company needs Share Certificates.
  • A Company. You need a Registered Pty Company.

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Process:

(1) Validation and Processing of Documents

Certain procedures need to be followed to ensure that the documents / information you provided is accurate.

(2) Create and Sign off BEE Verification

After validation and processing your documents, our SAIBA BEE Official will create, sign and send your BEE Verification to you.

(3) Receive your BEE Verification

Your BEE Verification will be made available on your Customer Account (we will notify you via email): This Verification will contain your Company’s specific ‘BEE Level’. A ‘Contribution Level Rating’ which is calculated with a sophisticated system will also be included.

(4) Utilise your BEE Verification

BEEThis entitles your Company to apply for Tenders, Contracts and Supplier Listings at Corporations / Institutions which require a BEE Verification from suppliers / service providers. These Corporations / Institutions include:

  • Banks
  • National Government
  • Transnet
  • Municipalities
  • Eskom
  • Telkom
  • Construction industry
  • Local Government
  • and MANY more

 

BEE Levels:

Level 1

If your company is 100% black owned, you will get a Level 1 BEE Verification – the best level available!!! Guaranteed.

Level 2

If your Company’s black ownership is between 51% and 99%, you will get a Level 2 BEE Verification – Guaranteed.

Level 4

If your company is 50% or more white owned, you will get a Level 4 BEE Verification which is still within the top 50% of all BEE levels – Guaranteed.

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More BEE Info

What does BBBEE or BEE mean? It stands for Broad-Based Black Economic Empowerment. The South African government started this initiative to address the inequality that exists in the country to promote and aid black participation in the mainstream economy.

Who qualifies? Everyone qualifies for a BEE Verification. To improve your BEE score, a company’s shareholders will have to be Black People (which will include African, Coloured, Indian, and Chinese) who were discriminated against in the Apartheid regime.

BEE Governance: The BBBEE Act No. 53 of 2003 and the BBBEE Codes of good practice gazetted in February 2007 provide the outlines by which BEE in practices are regulated.

Benefits for Start-ups: Start-ups are now in a position to tender for contracts of large firms and from the government.

Valid term: Each company will have to renew their status, every twelve months.