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AFFIDAVIT BB BEE EXEMPTED MICRO ENTERPRISE GENERALI, the undersigned, Full name & Surname Identity number Hereby declare under oath as follows: 1. The contents of this statement are to the best of

How to fill out bbbee affidavit

How to fill out bbbee affidavit:

1. Gather all necessary documentation and information needed to complete the affidavit, such as your company's registration documents, financial statements, and proof of ownership or shareholding.
2. Carefully read through the bbbee affidavit form and understand each section and what information is required.
3. Start by filling in your company's details, including its name, registration number, and contact information.
4. Provide accurate information about your company's ownership structure, including the names and details of shareholders and their respective ownership percentages.
5. Ensure that you correctly indicate the race, gender, and disability status of each shareholder, as this information is crucial for the bbbee scoring process.
6. Include details about any trusts or other entities that may have an influence or interest in your company's ownership or control.
7. Provide accurate financial information, such as your company's turnover, net profit, and expenses. Make sure to attach the necessary supporting documentation, such as audited financial statements or tax returns.
8. Indicate any black-owned suppliers or service providers that your company has used during the reporting period.
9. Complete the remaining sections of the affidavit, such as employment equity, skills development, and preferential procurement.
10. Review your completed bbbee affidavit thoroughly to ensure that all information is accurate and supported by relevant documentation.
11. Sign and date the affidavit, and keep a copy for your records.

Who needs bbbee affidavit:

1. Any company in South Africa that wishes to do business with government entities, public institutions, or large private corporations may need to submit a bbbee affidavit.
2. Companies that seek to improve their bbbee rating and score may voluntarily complete and submit a bbbee affidavit to demonstrate their compliance with the Broad-Based Black Economic Empowerment (BBBEE) Act.
3. Start-up companies or new market entrants may also need to provide a bbbee affidavit to establish their compliance with BBBEE regulations and gain credibility in the market.

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What is bbbee affidavit?

A BBBEE affidavit is a legal document that verifies a company's Broad-Based Black Economic Empowerment status, serving as proof of its compliance with BBBEE regulations.

Who is required to file bbbee affidavit?

Entities that wish to prove their BBBEE compliance, typically small and medium-sized enterprises, are required to file a BBBEE affidavit.

How to fill out bbbee affidavit?

To fill out a BBBEE affidavit, the business owner must provide information about the company's ownership structure, financials, and relevant empowerment initiatives, ensuring accuracy and adherence to the required format.

What is the purpose of bbbee affidavit?

The purpose of a BBBEE affidavit is to provide a formal declaration of a business's BBBEE status to assist in promoting economic empowerment and equal opportunities in South Africa.

What information must be reported on bbbee affidavit?

The information that must be reported on a BBBEE affidavit includes ownership details, the percentage of black ownership, management control, skills development, enterprise development contributions, and socio-economic development efforts.