Glossary

If you aren’t sure of what something means, we’ve prepared a glossary of definitions to enable you


50% black owned

An enterprise in which more than 50% of voting rights and more than 50% of economic interest is held by black people and more than 50% of net equity value has been realized.

Accredited BEE verification agency

An enterprise that has been accredited by SANAS on behalf of the dti, who meet the minimum technical and black economic empowerment criteria for rating agencies and whose main role is to provide an independent opinion on the BBBEE status of an enterprise.

Accredited BEE verification agency

An enterprise that has been accredited by SANAS on behalf of the dti, who meet the minimum technical and black economic empowerment criteria for rating agencies and whose main role is to provide an independent opinion on the BBBEE status of an enterprise.  

Admissable Appropriate Evidence

refers to the measure of the quality of evidence in respect of its relevance and reliability in providing support for detecting misstatements affecting individual scorecard elements. The reliability of evidence is influenced by its source and its nature and is dependent on the individual circumstances  under which it is obtained.

B-BBEE

Broad-Based Black Economic Empowerment

BBBEE enterprises

Enterprises whose BBBEE score in terms of a sector scorecard which has been issued as a code of practice or in terms of the dti’s generic scorecard has been verified by an accredited verification agency.

BEE

Black Economic Empowerment

Black aged people

Black people who are also aged people as defined in the Aged Persons Act 81 of 1967, as amended or substituted.

Black Agricultural Financing

Is the financing of Agricultural Development involving integrated support for Black farmers, which is 25% black owned or more and and/ or at least a Level 4 BBBEE contributor, through enabling access to and sustainable use of resources.

Black designated groups

Black workers, black unemployed people, black youth, black aged people, black disabled people and black people living in rural areas.
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