Education Africa: Your B-BBEE Partner In Education
If you are looking for the ideal partner and shareholder with respect to your Broad-Based Black Economic Empowerment Scorecard, look no further. Education Africa, following its B-BBEE verification dated 4 December 2019, has retained its position as a Level 1* B-BBEE contributor with procurement recognition of 135%. This effectively means that all Education Africa clients/partners can claim R1,35 BEE spent for every R1,00 spent with Education Africa on their scorecard. Education Africa is a NPC (Non Profit Company) and by including us in a B-BBEE ownership transaction, companies receive additional bonus points for our black new entrance compliance.
*In terms of the B-BBEE Act No 53 as Amended by Act no 46 of 2013, to qualify as a Level 1 contributor in the B-BBEE Exempted Micro Enterprise category, an entity needs to have at least 75% black beneficiaries. Education Africa comfortably meets this minimum requirement; in fact, 98% of our beneficiaries are black as defined by the Department of Trade and Industry.
What are the benefits of having Education Africa as a B-BBEE partner?
- Education Africa has transparent governance structures
- Education Africa has been in existence since 1992
- Education Africa has participated in an equity transaction
- Education Africa’s beneficiaries are broad-based
- Education Africa provides a potential to score B-BBE points for a broad-based scheme which forms part of the Ownership score for the participating company
What is B-BBEE?
Since 1994, Broad-Based Black Economic Empowerment (B-BBEE) has been adopted as an initiative of the South African Government aimed at promoting economic transformation in order to enable meaningful participation of black people in the economy. The BEE Act of 2003 outlined the required targeted areas of development within the South African economy. These key development areas have measurable outcomes in ensuring a path to greater broad-based and effective economic participation, the right to equality, increased employment, more equitable income distribution, economic unity of the nation, equal opportunity and access to services and protection of the common market place.
The Act has been amended, and The Broad-Based Black Economic Empowerment Amendment Act, 2013 (Act No. 46 of 2013) was proclaimed on 24 October 2014, symbolising a new beginning in the re-orientation of the transformation policy to focus more on productive B-BBEE and the growth of black entrepreneurs through Enterprise and Supplier Development elements.