What is a BEE certificate?
A Black Employment Empowerment certificate (BEE) is a document that indicates a company’s level of BEE compliance. A level one contributor is the highest achievable status and the lowest level of BEE compliance is level eight. The higher the BEE status level, the stronger a company is in relation to its competition.
Why does a company need a BEE certificate?
A company needs a BEE certificate to prove their level of BEE status. The certificate includes indicators such as the company’s turnover, the level of black ownership and the overall BEE status.
The Minister of Finance, Pravin Gordan has ruled that from the 7 December 2011 a company cannot conduct business with municipalities, government departments and any state-owned entities without a valid BEE certificate. Failure to submit a valid BEE certificate shall lead to disqualification.
What are the requirements for verification?
When applying for BEE-verification ensure you have the following required documents:
The certificate is valid for a year and renewed annually.