In this article we will focus on a BEE certificate update that has been published in the Government Gazette on 11 October 2013.
The threshold of BEE exempt certificates has been increased from R 5 million to R 10 million per annum.
The following scorecard recognition levels has been amended :
1. An exempted micro enterprise is deemed to have a B-BBEE Level 4 status.
2. An exempted micro enterprise with at least 51% black ownership qualifies for a B-BBEE Level 2 status.
3. An exempted micro enterprise with 100% black ownership qualifies for a B-BBEE Level 1 status.
An EME only requires to obtain a sworn affidavit on a annual basis to confirm its turnover and percentage of black ownership, in order to renew its scorecard.