South Africa: New Bill Authorises Auditors to Perform B-BBEE Verifications

With effect from 7 December 2011, and in accordance with the Revised Preferential Procurement Regulations, one of the aims of which is to promote uniformity throughout the public sector procurement system, it is now a legal requirement that all tenders awarded by organs of state must take 10% or 20% - depending on the value of the tender - cognisance of every tenderer's B-BBEE status, as opposed to their percentage black ownership (the old BEE status).

Approximately 87 000 existing suppliers to schedule 2, 3B and 3D public entities now require, and do not have, B-BBEE certificates.

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