What is BEE?
Broad-based Black Economic Empowerment (B-BBEE) is an initiative launched by the South African Government to address the restrictions that exist within the country for Black individuals to participate fairly in the economy. The BEE Act allows for the existence of the B-BBEE ‘Codes of Good Practice’ which provide the structures for the BEE Scorecard and certain rules associated with claiming BEE points. BEE is essentially a sellers’ club. If your company has a BEE Certificate then your customers can claim BEE points on their BEE Scorecard for buying from your business.
You can get different level BEE certificates (from level 8 to level 1) depending on what contributions you have made to supporting the integration of black people into the economy. The better level of BEE Certificate you have the more BEE points they can claim. When your customers are choosing which supplier to use they are likely to look at price, quality and service and your BEE Score. Depending on how important BEE points are to your customer, the more they will consider your BEE Score over the other three elements.
|BBBEE CERTIFICATE (THE CONFERENCE COMPANY).pdf||716.87 KB|