The Department of Trade and Industry have revised the affidavits to be utilized for the below entities

TYPE OF ENTITY BLACK OWNERSHIP AMENDED CODES

(Gazette 36928)

 

CONTRIBUTOR STATUS LEVEL

Exempted Micro Enterprise “EME” 100% Black Ownership Level 1 – using the Affidavit

 

51%< 100% Black Ownership

 

Level 2 – using the Affidavit
<51% Black Ownership

 

Level 4– using the Affidavit
Qualifying Small Enterprise “QSE” 100% Black Ownership

 

Level 1– using the Affidavit

 

51%< 100% Black Ownership

 

Level 2– using the Affidavit
<51% Black Ownership

 

QSE Scorecard applies, an affidavit cannot be utilized

 

The new affidavit includes a section where entities can declare if they are 51% owned by Black Designed Groups.

What is Black Designated Groups?

  • Black youth – individuals under 35-year-old;
  • Black disabled;
  • Black people from rural areas;
  • Black unemployed people;
  • Black military veterans.

How does this benefit your Company?

If you are rated under the QSE scorecard or Generic scorecard there are points available under the Procurement element for spend with Black Designated Groups.

The new affidavits thus could increase a company’s procurement scoring if the relevant supplier is a 51% black owned Designated Group.

How to find the New Affidavits?

The new affidavits have been loaded onto Thrive Corporate Advisors website. To access them please follow the below link:

http://thriveadvisors.co.za/legislation

Need further information?

Please contact Thrive Corporate Advisors. Thrive Corporate Advisors, through our clients, aim to implement B-BBEE strategies that make both business sense while ensuring that the spirit of the B-BBEE Act is being carried out. Our solution aims at providing our clients with technical expertise to make informed decisions in terms of their B-BBEE strategies. Our goal is to aid companies that we believe will add value to South Africa through the B-BBEE codes by implementing meaningful symbolic strategies that aims to assist our clients as well as the intended beneficiary or supplier.

Thrive Corporate Advisors is a Broad-Based Black Economic Empowerment (“B-BBEE”) consulting and advisory firm which assists the corporate sector with all aspects of B-BBEE legislation.