Why does my company need a BEE Rating Certificate?
- A company needs a BEE-rating certificate to prove their level of BEE status.
- The certificate includes indicators such as the company’s turnover, the level of black ownership and the overall BEE status.
- A company cannot conduct business with municipalities, government departments and any state-owned entities without a valid BEE-rating certificate.
- Companies can use their BEE-rating certificate to claim procurement spent with BEE compliant suppliers. In order to claim, companies are required to buy from BEE compliant suppliers to score points for BEE procurement spent.
- The absence of a BEE-rating certificate, can result in customers seeking an alternative BEE compliant supplier. It is important for companies to aim to achieve and maintain a level one status to remain competitive.
- The certificate is valid for a year and renewed annually based on evidence submitted for BEE implementation during the period under measurement.