The ‘true’ BEE partner

2010-12-14 00:00

HUNDREDS of black-owned companies hoping to invest in your business tout themselves as being the ideal BEE (black economic empowerment) partner.

EconoBEE, a widely known consultancy, warns that such deals and the companies advertising their new BEE partner should be scrutinised as to whether the points they will earn as a result of the deal reflect true transformation.

CEO Keith Levenstein says it is critical that such “ideal BEE partners” themselves have a BEE certificate, and adds that often they do not.

“A company that sets itself up to be a BEE partner should also make the effort to obtain its own BEE certificate. Unfortunately this seldom happens.”

Levenstein says the erroneous view of BEE in general is that it is primarily based on ownership, but companies are becoming more aware of the broad-based approach that takes various other elements into account.

“If you do not have a BEE certificate showing at least level 4, you do not have good empowerment credentials.

“Businesses presenting themselves as BEE partners should at least recognise the efforts of the DTI’s [Department of Trade and Industry] Codes of Good Practice and take more than mere ownership into account when considering their contribution to transformation.”

— Witness Reporter.

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