InterGest, via its close collaboration with the Law Firm WerthSchroeder Inc., has devised a unique BEE Solution offering clients the possibility of attaining a Level 2 BEE Status, the second-highest possible ranking, opening a multitude of advantages and business opportunities.

Broad-Based Black Economic Empowerment is a form of economic empowerment legislative that was initiated by the South African government in response to criticism against narrow- based empowerment. The latest amended B-BBEE Codes of Good Practice became effective in May 2015, which made B-BBEE compliance almost unavoidable for many industries and especially for larger business entities based in South Africa. The government awards companies with a compliance certificate, which is ranked according to levels based on the amount of Broad-Based Black Economic Empowerment strategies implemented within a company.

Strategies to become B-BBEE rating include, but are not limited to:

 

• Increasing the number of *black people that manage, own and control enterprises and
productive assets;
• Facilitate ownership and management of enterprises and productive assets by
communities, workers, cooperatives and other collective enterprises;
• Human resource and skills development
• Achieving equitable representation in all occupational categories and levels in the workforce
• Preferential Procurement from enterprises that are owned or managed by black people
and
• Investment in enterprises managed by black people.

 

*Black people are defined as “Africans, Coloureds, and Indians, who are citizens of the Republic of South Africa (by birth or descent) or who became citizens of the Republic of South Africa by naturalization”.

South African companies who demonstrate a B-BBEE level receive points and bonus points on their B-BBEE scoring card if they purchase products or services from a company with a corresponding BEE level.