Welcome to BEE Matrix. We don’t want to be the biggest, but the best.
BEE~Matrix was established in 2005 primarily as an independent BEE Verification Agency, to assist companies with verification of their BEE status in a fair and independent manner.
Fronting has become a criminal offence, as per the amended BEE Act of 2013. Offenders can face up to 10 years of jail time, or 10% fine of company turnover. The BEE Commissioner has been appointed to primarily investigate fronting practices.
BEE ACCREDITATION BENEFITS:
With the amended BEE codes that became effective on 1 May 2015, it is clear that QSE and Generic companies without any black ownership, will experience difficulties in achieving an acceptable BEE level. This will especially have a negative impact on companies dealing with government. The Amended Codes are significantly more difficult with harsher points to BEE levels table, which will mean the majority of those businesses will have a substantial level drop from the previous year which can impact business significantly.
We at BEE~Matrix can assist you to understand the changes in the amended Codes and the impact of not aligning your company accordingly.
BEE Revised Codes Clarification Notice:
15th May 2015 communication from the Dti confirms the following:
If your financial year end is before 30 April 2015 and you have not yet completed your verification, you may continue to obtain a verification using the 2007 Codes requirements. However, if your financial year end is after 01 May 2015, you will be required to use the 2013 Codes requirements, unless the Sector Codes are applicable to you.
If you are measured under a Sector Code, you may continue being rated according to that Code as the transition period has been extended to 31 October 2015. New Sector Codes will only be effective once gazetted, which means the current sector codes apply until then.
The Chartered Accountants Charters and Construction Sector Code have been repealed and entities in these sectors will use the Codes of Good Practice. Most of the other charters are still in process of being gazetted; the Tourism Charter and Marketing, Advertising and Communication Sector Codes have been gazetted.