Amended B-BBEE Codes now effective: Entities with turnover below R10 million now require a sworn affidavit

With the amended B-BBEE codes now effective, certificates that were issued in the past to confirm the status of Exempted Micro Enterprises (EME) as well as turnover confirmations, cannot be supplied by verification agents or auditors anymore.

The amended B-BBEE codes require a sworn affidavit for entities with a Turnover below R10 million.

B-Verified can assist entities (revenue of R10 million or less) with the preparation of the affidavit that is required to confirm EME status. (Subject to sector codes’ variations.)

The amended Tourism sector codes are available (To download, click here). Also note that the Chartered Accountancy and Construction sector codes were repealed.

B-Verified compiled two B-BBEE Decision Trees. The first can be used to determine whether the Amended or Sector Codes apply. The second tree highlights areas where points can be earned under the Amended Codes. We’ve asked South African icon, Dowwe Dolla, to explain. Click here to view this 4 minute video or download the Decision Trees from the B-Verified website.

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