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THE

BEECHAMBER

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NEWS

Writer's pictureNewsletter Editor

FOLLOW THE MONEY


Organizations can engage third-party facilitators to assist in implementing their B-BBEE strategies. However, it is crucial to understand that the actual B-BBEE spend can only be claimed from the moment it reaches the end beneficiary (the black-owned entity or individual that ultimately benefits).

Many organisations opt to use third parties in the implementation phase of their B-BBEE Strategy, which B-BBEE Legislation allows for. However, an organisation may only claim the spend from the time the Beneficiary, not the third-party facilitator, receives it. In addition, a B-BBEE claim is reserved for the originator of the funds and not the third-party facilitator. Essentially, a B-BBEE Verification will follow the money and evaluate the claim from the time it reaches the end Beneficiary. 

 

Scorecard Monitoring Services are available to guide members on third-party facilitators.

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