How Does BEE Work in South Africa?
What exactly is BEE in South Africa?
Black Economic Empowerment (BEE) is a South African government programme that aims to achieve economic transformation and enable black people to participate more fully in the economy.
How does BEE work in South Africa?
Black Economic Empowerment (BEE) is a racially selective programme launched by the South African government to redress Apartheid’s inequalities by providing black South African citizens (Africans, Coloureds, Indians, and Chinese) with economic privileges not available to White South Africans, essentially wealth redistribution. The policy offers incentives to companies who support black economic empowerment in accordance with a number of quantifiable criteria, such as having a majority or partial black ownership, employing black people, and working with black-owned suppliers.
Who qualifies for BEE?
This category of support is only available to South African citizens who are African, Coloured, or Indian.
What is a BEE certificate in South Africa?
A Black Economic Empowerment (BEE) certificate is a certification that specifies how well a company adheres to the BEE policy.
What is the significance of a BEE certificate?
The BEE certificate enables the company to tender for contracts and boosts its chances of winning them.
How do I get a BEE certificate in South Africa?
You can apply for a BEE certificate on the eservices website, Bizportal anytime or at the CIPC Self Service Terminals when registering a business, or when filing annual returns.
How long is a BEE certificate valid for?
A BEE certificate is valid for 1 year from date of issue.
What is the cost of a BEE certificate?
A BEE certificate is completely free. The processing fee for a BEE certificate, on the other hand, is R490.
