Trade and Industry Minister Rob Davies has extended the automatic recognition of the empowering supplier status to all entities within SA until further determination. The minister based his decision on the current economic climate and the lack of readiness by business to meet the regulatory provisions pertaining to empowering suppliers, particularly beneficiation. This means that all valid Broad-Based Black Economic Empowerment (B-BBEE) verification certificates issued on or prior to April 30 will be automatically recognised as empowering suppliers until their expiry dates. This also applies to exempt micro enterprise (EME) and relevant qualifying small enterprise (QSE) sworn affidavits and the certificates of the Companies and Intellectual Property Commission (CIPC). Furthermore, any entity measured on or after May 1, 2016 will automatically be recognised as an empowering supplier until a further notice is issued. Regulations giving effect to this decision have been published in th...
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