When it comes to Enterprise Development (ED), most companies struggle to either find ED initiatives that they can contribute to or struggle to gain the necessary acknowledgement for ED initiatives already in place. Below you will find a list of potential documentation as well as the reason why they may be required:
- Your Company's Audited Financial Statements and/or Management Accounts to confirm NPAT / Leviable Amount (Construction BEP Charter) / Turnover.
- Proof of ED beneficiary black ownership to confirm which category (A or B) the beneficiary falls into. This could be in the form of a B-BBEE certificate (not older than 12 months), company registration documents and certified ID copies. Please note that although there are no categories in certain sector charters and the Revised Codes, this would still be a requirement.
- Agreement between your company and the ED beneficiary to prove an ED relationship. This agreement usually stipulates: a) the duration of the ED relationship; b) the initiative(s) / contribution(s); as well as any rights that parties may have to claim specific performance and/or cancel the agreement.
- An acknowledgement letter from the ED beneficiary confirming that the initiatives and/or contributions as stated in the agreement have actually been implemented. Please find attached a template of an acknowledgement letter.
- Proof of the contribution value. This could be in the form of a bank deposit slip or bank statement (confirming the amount of the ED Contribution), independent valuation letter of items granted / donated, proof of the cost incurred (where cost were incurred to assist the ED beneficiary), etc. For shorter payment periods, please remember to include both the invoice and proof of payment to proof time-frames.
- Construction sector only:
- Proof that the ED beneficiary (Developing Organisation or DO) is a legal entity compliant wit SARS requirements
- Proof that the DO employees at least three permanent staff members
- Proof that all the requirements for the Enterprise Development Program have been met (see page 21 and further, Government Gazette 32305 - Construction Sector Charter).
- Forestry sector (Growers & Sawmillers) only:
- Proof of annual sale of logs and sawtimber
- B-BBEE certificate of the ED beneficiary
P.S. This document serves only as a guide of the most commonly requested documents. Certain verification agencies may require more or less information.