Broad-Based Black Economic Empowerment (B-BBEE) is a reality for all businesses in South Africa.
B-BBEE is a government initiative to promote economic transformation in order to enable meaningful participation in the economy by black people. For companies doing business in South Africa, B-BBEE compliance should be a strategic imperative especially since the revised regulations on public sector preferential procurement came into effect on 7 December 2011.
These regulations made BEE level contributions and commitments to local production and content a pre-requisite for doing business with all state organs. These regulations, together with those proposed by the Broad-Based Black Economic Empowerment Amendment Bill, will introduce additional complexities for businesses that were just coming to terms with the realities of B-BBEE.
How we can help
At Grant Thornton we have always gone about our business in a different way. With proven success. Objectivity and impartiality are our key priorities when carrying out B-BBEE verification and compliance services.
We expanded our B-BBEE service offering, to provide a broader range of services in 2011 by acquiring IQuad Verification Services, formerly a subsidiary of JSE-listed diversified financial services company IQuad Group Ltd.
Grant Thornton Verification Services is unconditionally accredited as a verification agency by the dti and the South African National Accreditation System (SANAS) and a full member of the Association of BEE Verification Agencies (ABVA). ABVA is an independent, national membership organisation established to lead the Black Economic Empowerment (B-BBEE) Verification industry as it takes up a vital role in the transformation of the South African economy.
Grant Thornton Verification Services has dedicated professional teams in Cape Town, Durban, Gauteng and Port Elizabeth, and are supported by R47-02 compliant management systems. View our impartiality statement.
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