Sep 41 min read

SELECTING A B-BBEE RATING AGENCY

When selecting a B-BBEE (Broad-Based Black Economic Empowerment) Rating Agency, it's essential for organizations to consider several key factors to ensure compliance and successful verification. These factors include adherence to the SANAS R47-03 document, technical expertise of the agency's team, and a thorough due diligence process. By prioritizing these considerations, organizations can make informed decisions and avoid potential conflicts of interest or verification issues.

Ethics, skills & competence are at the top of the due diligence list when selecting a B-BBEE Rating Agency. Firstly, an organisation must ensure that they engage the services of a B-BBEE Rating Agency in line with the SANAS R47-03 document that does not allow B-BBEE Rating Agencies to provide B-BBEE Consulting services.

Secondly, organisations must ensure that their chosen B-BBEE Rating Agency allocates a team with the technical expertise to ensure the B-BBEE Verification process is smooth. Remember, an organisation is within their rights to request CVs about the team undertaking their B-BBEE Verification.

It is encouraged that Members adopt a Due Diligence process when selecting a B-BBEE Rating Agency.

Verification Preparation Services are available to Members to assist with planning for the B-BBEE Verification process.