Articles
BROADBASED BLACK ECONOMIC EMPOWERMENT
BEE is a mechanism aimed at addressing inequalities by facilitating access of the black majority into the mainstream economy. Empowerment brings with it marketing opportunities, boosted staff morale and access to more business. The key lies in transforming your business to become Black Empowered whilst simultaneously creating a sustainable competitive advantage.
While the BEE Verification process for businesses is not an issue of legal compliance, it is most definitely a business imperative. There are no inspectors policing the BEE status of enterprises, but potential business opportunities in both the public and private sector, will be greatly influenced by it.
A BEE Verification certificate is required to show compliance with the Broad based Black Economic Empowerment Act 53 of 2003.
During the last couple of years Danshaw has assisted a number of our clients in getting them ready for the actual verification process. We have further taken numerous calls from companies seeking advice with regards to BBBEE and the possible effect it might have on their businesses.
After a field study undertaken by some of our consultants over the last three months, it became clear to us that one of the challenges facing most businesses, is finding a reliable Verification agent. Unfortunately there are various unscrupulous individuals giving themselves out to be Verification agents and issuing Verification certificates. These certificates however seldom are of any use.
In terms of SANAS R47 a Verification agent is not allowed to render consulting services to the company he /she is auditing unless a period of 24 months has elapsed since rendering such services.
In order to assist our clients in this regard we went in search for a professional, reliable Verification Agency.
We are proud to announce that we found such Verification Agency. BEE Empowered is a Cape Town based Agency which has operated nationally since 2005. It is headed by Lizette Frank who completed her (BA) LLB degree at the University of Stellenbosch in 1988. The firm is a full member of the Association of BEE Verification Agencies (ABVA) and Lizette serves as a director on ABVA’s Board of Directors and heads its Discipline and Ethics EXCO committee.
In future BEE Empowered will be the preferred BBBEE verification Agency used by Danshaw.
In order to assist our clients in contacting them we have provided a link to their website.