What is a BBBEE Certificate?
A B-BBEE certificate is a document verifying your business’ performance regarding black economic empowerment in South Africa, as determined by your company size, sector code, and the points accrued across each of the five elements of the BEE scorecard.
Where Can I Find BBBEE Certificate In South Africa?
Customers can apply for a B-BBEE certificate on the service’s website, Bizportal anytime or at the CIPC Self-Service Terminals when registering a business, or when filing annual returns. For a business with a turnover of less than R10 million, a B-BBEE certificate is not required.
How long does it take to get Bbbee certificate?
4 to 6 weeks
It generally takes 4 to 6 weeks to get your B-BBEE certificate, depending on the data submitted. Urgent verifications can be executed in just 2 to 3 weeks if required.
What are the requirements for Bbbee?
The 5 BBBEE Criteria
- Equity ownership (25% weighting)
- Management control (15% weighting, 4% bonus possible)
- Skills development (20% weighting, 5% bonus possible)
- Enterprise development (40% weighting, 4% bonus possible)
- Socio-economic development (5% weighting)
Why is Bbbee important in South Africa?
Its objectives include improving the economic position of black South Africans and creating a more inclusive, diverse, and competitive business environment.
It addresses previous imbalances to create a more competitive and innovative business environment and promote economic growth and social development for all.