The Department of Trade and Industry has not just got flak for complicating compliance with the new amended Broad Based Black Economic Empowerment (BBBEE) compliance, but also making the registration process convoluted for those with all the necessary paperwork.
In order to address this concern, Trade and Industry Deputy Minister Mzwandile Masina has launched the system for issuing of Broad-Based Black Economic Empowerment (B-BBEE) certificates through the Companies Intellectual Properties Commission (CIPC) self-service terminals in Pretoria.
In this way, CIPC customers, who are registering private companies through the terminals, to also register for a B-BBEE certificate at the end of the company registration transaction or when they file their CIPC annual returns. The B-BBEE certificates will be issued for free to registrants.
Masina said government was looking at rooting out the challenges of unscrupulous intermediaries, fraudulent certificates and unregulated fees in the process of B-BBEE certification.
“These challenges impose the need for us to constantly improve our technical systems and registration process in a manner that averts these mostly criminal challenges, while providing services in a convenient manner.”
He added: “We have been taken for a ride and therefore we want to deal with this fraud by ensuring that our certificates can be verified. These are compliance and regulatory issues we are dealing with and we need the industry to work with us to protect public funds.”
The service will be available to micro enterprises with a turnover of R1 million – R10 million. In due course services terminals will be available throughout the country.
Currently there are 42 terminals in Pretoria, Johannesburg and Cape Town. The Department will be are rolling out terminals to the Eastern Cape and the Northern Cape soon.
I need to get registered for my company bee