BEE

B-BBEE And Your Trading License

B-BBEE And Your Trading License

by | May 17, 2021

In recent times we have seen many changes, not only in the way that business is done with most businesses going electronic but also with this new era of operating, some “old” requirements in some sectors have become “new” requirements in others. One does not always appreciate the effect that non-compliance will have on you and your company, as most believe that a B-BBEE level is used only for procurement purposes. However, in recent times one has seen a change to this as many sectors now...

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FAQ – Is your business required to contribute to the B-BBEE ICT Sector Council fees?

FAQ – Is your business required to contribute to the B-BBEE ICT Sector Council fees?

by | May 14, 2021

The B-BBEE ICT sector council has made the decision that as from 1 December 2020, all ICT entities who obtains a B-BBEE certificate or affidavit, will need to contribute to the annual fees of the ICT sector council. If an entity, therefore, falls under the B-BBEE ICT sector, they will be required to provide proof of payment to the verification agency as well as confirmation from the ICT sector Council that the entity is up to date with their fees. The implication of non-contribution to the...

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Did you know? – A construction company with 0% of black ownership can obtain a B-BBEE Level better than Level 4

Did you know? – A construction company with 0% of black ownership can obtain a B-BBEE Level better than Level 4

by | May 13, 2021

If the enterprise’s turnover does not exceed the annual threshold of R10mil per annum, it will be exempt from complying with any of the prescribed elements and will only qualify for an automatic level 6. If the maximum points were reached for skills development and supplier development, this level 6 can be enhanced to a level 3 B-BBEE recognition level that can be obtained without having any black ownership. All that an entity needs to do is to get the correct advice in this regard. To find...

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B-BBEE – Reasons why your business might drop a level

B-BBEE – Reasons why your business might drop a level

by | May 12, 2021

When you are a Qualifying Small Enterprise (QSE) or a Generic Company, you are normally required to spend a certain amount of money to obtain full points on specific elements on a scorecard (This excludes automatic BEE levels that you obtain because you have more than 51% black ownership). It happens that companies spend a lot of money and still drop a level, which sometimes leads to a non-compliant certificate. How does it work? In the normal B-BBEE Codes of Good Practice, there are 3...

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Episode 75: Amendments Within The Construction Sector Codes Effective from 1 December 2021

Episode 75: Amendments Within The Construction Sector Codes Effective from 1 December 2021

by | May 11, 2021

SEESA BEE Legal Advisors, Phillip van der Merwe and Johan Oosthuizen discuss the amendments within the Construction Sector Codes effective from 1 December 2021. This is in line with the amendments that came into effect on the Skills Development element on 01 December 2020.  They also focus on the aspects in terms of the Socio-Economic Development which differ from the Codes of Good Practice. Click play to listen to our podcast! Contact your SEESA BEE Advisor to assist your business with...

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Did you know? BEE verifications are subject to the SANAS regulatory body, and that all verifications must now be done on your company’s latest financial year-end?

Did you know? BEE verifications are subject to the SANAS regulatory body, and that all verifications must now be done on your company’s latest financial year-end?

by | Apr 22, 2021

What does this mean for your business? The South African National Accreditation System (SANAS) is the body responsible for the accreditation of BEE verification agencies. SANAS recently specifically addressed the measurement period that entities can use for their BEE verification. In the past, some verification agencies were willing to accept financial statements for any 12-month period, but SANAS has now stated clearly that the measured period can only ever be the financial year-end for the...

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Increase Your B-BBEE Score Through A Joint Venture

Increase Your B-BBEE Score Through A Joint Venture

by | Apr 19, 2021

A Joint Venture (JV) is a business agreement between two or more entities whereby they agree to join their resources for the purpose to achieve a specific business goal. A JV is its own entity, separate and apart from the participants to the agreement. It will require its own Broad-Based Black Economic Empowerment (B-BBEE) certificate when responding to tenders and entering into contracts that require a B-BBEE certificate. This means you will have to obtain a new B-BBEE certificate for the...

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Episode 71: What Does A Valid B-BBEE Certificate Look Like?

Episode 71: What Does A Valid B-BBEE Certificate Look Like?

by | Apr 13, 2021

SEESA BEE legal advisors, Jolizna Smith and Salomé Griebenow discuss the importance of a valid B-BBEE certificate. They focus on the elements that a valid BEE certificate should contain. They also explain the consequences of an invalid BEE certificate and the effect that it will have when the Preferential Procurement score is calculated. Click play to listen to our podcast! Contact your SEESA BEE Advisor to assist your business with its BEE Certificate or any BEE related queries you might...

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Do Companies Need To Be B-BBEE Compliant?

Do Companies Need To Be B-BBEE Compliant?

by | Mar 24, 2021

During these strange and difficult times with the worldwide pandemic, most business owners are trying to tighten the purse strings on the business as the pandemic has had a massive negative impact on all businesses across all industries. The last thing people want to hear is that they have to spend money to maintain or promote the BEE level of the business. Unfortunately, the BEE mechanism requires continuous attention not to be caught off-guard when financial year-end comes knocking. This is...

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How To Earn Maximum B-BEEE Points Through The Skills Development Element

How To Earn Maximum B-BEEE Points Through The Skills Development Element

by | Mar 21, 2021

Scoring the total of 20 points on the Skills Development element under the Generic Scorecard for Codes of Good Practice has never been easier. As a consulting agency, SEESA will be able to address all your Skills Development needs. With SEESA BEE, together with Incuvest, we can make the Skills Development element quick, efficient and simple to contribute. With our assistance, we also take the administrative burden of Skills Development away. The requirements of the Skills Development Element,...

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