Process_BEE_Rating

BEE Rating Solutions » Verification / Rating process

In accordance with the government’s broad-based black economic empowerment (BBBEE) strategy and balanced scorecard approach, BEE Rating Solutions has developed a BEE offering focused on education, verification, and rating. The balanced scorecard (BSC) facilitates the process of setting measurable targets for BEE, BEE verifications and other measurement purposes. Our verification procedures are based on the DTI’s guide for verification agencies (to be gazetted in the near future). BEE Rating Solutions is an accredited Verification Agency (accreditation number: BVA 049 - certificate) and a full member of ABVA (Association of BEE Verification Agencies, membership no. AM00014 - certificate).

BEE Rating Solutions (Pty) Ltd policy statement and procedures
BEE Rating Solutions (Pty) Ltd understands the importance of confidentiality and is committed to ensure and maintain the highest level of confidentiality in all operations;
BEE Rating Solutions (Pty) Ltd understands the importance of and is committed to impartiality especially when managing conflicts of interest;
BEE Rating Solutions (Pty) Ltd undertakes not to imply that BEE Verification would be simpler, faster, or less expensive where the services of Consultancy Agencies are employed.

BROAD BASED BLACK ECONOMIC EMPOWERMENT VERIFICATION

Your company will be rated on the following components as per the Broad Based Economic Empowerment Strategy of March 2003, the act approved by parliament in December 2006 and the codes of Good Practice on Broad Based Economic Empowerment:

Direct Empowerment

• Ownership

→

% flow of economic interest and exercisable voting rights

→

Management and control - % Black person in executive management and/or executive board and board committees

• Human Resources Development

→

Employment Equity - Weighted employment equity analysis

→

Skills Development - Expenditure as a proportion of total amount paid as SDL

Indirect Empowerment

• Preferential Procurement

→

Weighted Preferential procurement Spend

• Enterprise Development

→

Cumulative recoverable and non-recoverable contributions to Enterprise Development over previous 5 years

• Social-Economic Development

→

Cumulative non-recoverable contributions to qualifying Corporate Social Investment and Industry Specific Initiatives over previous 5 years

BROAD BASED VERIFICATION CLASSIFICATION

According to the Codes of Good Practice the total points which a company can earn are as follows:

A Level 1 contributor to BEE - a score equal to and above 100 points

A Level 2 contributor to BEE - a score between 85 and 99 points

A Level 3 contributor to BEE - a score between 75 and 84 points

A Level 4 contributor to BEE - a score between 65 and 74 points

A Level 5 contributor to BEE - a score between 55 and 64 points

A Level 6 contributor to BEE - a score between 45 and 54 points

A Level 7 contributor to BEE - a score between 40 and 44 points

A Level 8 contributor to BEE - a score between 30 and 39 points

A Non-compliant contributor to BEE - a score below 0 and 29 points

Your company will receive a verification certificate as well as a detailed report on each of the components and sub components. The verification will be added to BEE Rating Solutions's database as well as the the DTI's website when it's active.