Broad-Based Black Economic Empowerment (B-BBEE or BEE) is an essential policy tool aimed at broadening the economic base of South Africa, promoting economic growth, mobilising investment, creating jobs and empowering communities. The complexities of the B-BBEE Codes, a low-growth economic environment and various other challenges that businesses are facing in industries such as Construction and Mining mean that B-BBEE is not simply a “tick box” exercise.
With the implementation of the new generation B-BBEE Codes, BEE has entered a new phase of diversity, requirements, dimensions and facets and is not limited to ownership and management considerations as some individuals may believe.
- Ownership: measures black ownership of the entity.
- Management: measures participation of black people in the board and management control structure.
- Skills Development: measures skills development spend on black employees and unemployed individuals, as well as learnerships, apprenticeships/ internships and SETA-accredited training programmes and bursaries to students at Higher Education institutions.
- Enterprise and Supplier Development: measures procurement spend from empowering suppliers, together with Supplier Development and Enterprise Development contributions to beneficiary entities that are at least 51% black owned, in respect of their development, sustainability, financial and operational liberation.
- Socio-Economic Development: measures contributions for socio-economic development.
SERR Synergy assists businesses to implement viable B-BBEE initiatives and ensures alignment of initiatives with the legal requirements of the B-BBEE Codes to avoid any possible risks associated with fronting or any other unethical business practices that may cause possible reputational damage to an enterprise.
We have identified many innovations and solutions that can assist businesses to rise to the challenges of the amended BEE Codes by including this element as an integral component of a business marketing and growth strategy.
Bee consulting solutions
BEE consulting is more often needed to unravel the complexities of the B-BBEE or BEE Codes. Our BEE consultancy services are based on a wide-ranging and proven methodology designed to address all BEE-related matters.
We provide BEE consultation services to businesses, ranging from basic elementary requests to the most complex and integrated BEE solutions specifically aimed at addressing B-BBEE challenges.
By assigning a professional project manager who has the expertise to deal with the full range of implementation issues, we avoid any fragmentation of duties and obligations, leading to the successful execution of legislation compliance. Maybe it’s time to ask yourself whether your business needs professional BEE Consulting.
In need of BEE advise ? Speak to a consultant now.
Bee strategic report
Our legally qualified BEE consultants (or Project Managers) provide planning advice and are involved in drafting and customising a BEE strategic plan according to the client’s business needs for purposes of budgeting to achieve the maximum benefit from it.
Our BEE strategic reports include aspects of the following:
- A layout of the technical terminology used in the plan;
- A summary of the information that was gathered in order to compile the report;
- An overview of the latest BEE legislation;
- A breakdown of all the BEE elements;
- Different proposals regarding restructuring of ownership, occupational level changes, proper skills spend on correct EAP targets and correct calculations for the monetary targets, with suggested initiatives, will be made for implementation with a view to earning optimal points on the BEE scorecard.
Our services include a comprehensive range of effective business tools specifically developed to assist businesses to unravel the intricacies of B-BBEE and to turn compliance into a measurable growth strategy. Being the preferred service provider to various professionals and multi-national entities, we pride ourselves on being South Africa’s leader in Employee and Community B-BBEE ownership structures.
Bee ownership solutions
The existing B-BBEE Codes make provision for a variety of entities as a form of indirect B-BBEE ownership. The B-BBEE scorecard has been set up in such a way that it encourages broad-based ownership and the establishment of collective ownership programmes in the form of broad-based ownership schemes (B-BOS), employee share ownership programmes (ESOPs), trusts and non-profit companies (NPCs), etc.
Business owners find it challenging to identify a suitable ownership structure for B-BBEE scorecard optimisation and to meet compliance requirements. We advise you on your most effective options to restructure your business as well as the transaction. Our process enables you to better understand the opportunities, restrictions and risks associated to such a transaction to ensure sustainable success.
SERR Synergy has within a short space of time established itself as the leader in South Africa in the area of restructuring of businesses to become B-BBEE compliant and we are also proud to be the largest Trust Administrator in South Africa. We assist businesses to set up a variety of suitable ownership structures, including collective ownership programmes.
We have successfully assisted companies like Sozo Logistics, Woody's Brands, ZF Lemförder South Africa, Pitsa Ya Africa, Weather Blinds, Longyear SA, Savino Del Bene and SNA Civil and Structural Engineers, etc. Speak to one of our dedicated and passionate team members to experience the difference and understand why we are South Africa’s leader in B-BBEE ownership structures.
Bee verification services
Getting your BEE verification certificate shouldn’t be a headache. Measured entities often feel uncertain and overwhelmed because they don’t know what to expect from the BEE verification process. Knowing what will transpire and how they should prepare for it will most certainly make it easier to submit to and, more importantly, be prepared for the B-BBEE audit. This will ensure that the correct B-BBEE initiatives are highlighted and scorecard points awarded.
SERR Synergy, in association with various SANAS-accredited agencies, provides a complete range of B-BBEE Verification Services. We have developed a sound and comprehensive verification methodology in order to simplify and rationalise the BEE audit process. We assist clients in the verification process step-by-step and our services include the issuing of a SANAS-accredited B-BBEE verification certificate by an accredited verification agent.
In the amended Codes there is greater emphasis on majority black ownership, particularly in relation to the sub-element of Procurement as well as Enterprise and Supplier Development.
Our value-adding bee service solutions
All services and legal work relating to the implementation of your customised BEE strategy are included in our fees.
The following services are included:
- Issuing of an accredited BEE verification certificate by an accredited verification agent.
- Developing of strategies and compiling a strategic report and GAP analysis to enhance BEE levels.
- Setting up BEE ownership structures, i.e. collective programmes, employee- or broad-based programmes, community beneficiaries, etc.
- All agreements relating to such structures, i.e. shareholder agreements, subscription agreements, share option agreements, etc.
- All BEE joint venture (JV), partnership and association agreements.
- All amendments in this regard, as required by the Companies and Intellectual Property Commission of South Africa (CIPC).
- All resolutions and special resolutions to give effect to the above.
- Access to unique Empowerment Development structures for purposes of Enterprise, Supplier and Social Development.
- Legal representation at the BEE Commission in respect of any dispute or inquiry relating to any BEE matter emerging as a result of work done by SERR SYNERGY as per your contractual agreement and conditions.
- Continuous professional consultation and advice.