* PPRA on BEE – Ongoing

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September 2024

PPRA on  BEE – Ongoing:

The Property Practitioners Regulatory Authority (PPRA) has been actively involved in promoting Black Economic Empowerment (BEE) within the property sector. Here are some key points about their stance on BEE:

1. BEE Compliance: The PPRA requires property practitioners to have a valid BEE certificate to obtain or renew their Fidelity Fund Certificates (FFCs). This means that practitioners need to meet certain BEE criteria to legally operate
2. Recent Changes: Initially, the PPRA mandated a minimum BEE score of 40 points (BEE Level 8) for obtaining FFCs.
   However, after industry feedback, they revised this stance, now requiring only a valid certificate without a minimum score.
3. Transformation Goals: The PPRA aims to drive transformation within the industry, ensuring diversity and inclusivity. They believe that BEE compliance is a crucial step towards achieving this goal.
4. Skills Development: The PPRA also emphasizes the importance of skills development, with deadlines for submitting Workplace Skills Plans (WSP) and Annual Training Reports (ATR)

The PPRA’s approach to BEE is part of a broader strategy to integrate BEE compliance across various sectors, promoting fair and equitable business practices.

To obtain a B-BBEE (Broad-Based Black Economic Empowerment) Compliance Valid Certificate in South Africa:
 you can follow these steps:

1. Determine Your Business Category:   Identify whether your business qualifies as an:
   *  Exempted Micro Enterprise (EME), Qualifying Small Enterprise (QSE), or
   *  Large Enterprise based on annual turnover and other criteria.
2. Gather Required Documentation: Collect all necessary documents, including:
   *  company registration details,
   *  financial statements, and
   *  evidence of compliance with B-BBEE elements (ownership,
   *  management control,
   *  skills development, etc.
3. Choose a SANAS-Accredited Verification Agency:
   *  Select a verification agency accredited by the South African National Accreditation System (SANAS) to conduct the verification process.
4. Submit Documentation for Verification:
   *  Provide the collected documents to the verification agency for an on-site verification and assessment.
5. Receive Preliminary Report:
   *  The verification agency will conduct a pre-rating assessment and provide a preliminary report based on the submitted evidence.
6. Finalize and Issue Certificate:
   Once the verification process is complete and any discrepancies are resolved, the agency will issue a SANAS-approved B-BBEE certificate.

The certificate is valid for 12 months from the date of issuance and must be renewed annually.

SANAS-Accredited Verification Agency in South Africa:
The South African National Accreditation System (SANAS) website provides a list of accredited verification agencies.

Access via:  →  https://www.sanas.co.za/Pages/index.aspx