What ‘B-BBEE’ services do Alchemy offer?
Alchemy is not a B-BBEE verification agent however we provide can provide ‘B-BBEE’ consulting services which include:
- Providing consultancy services in terms of advice on various B-BBEE issues under the current Codes, amended Codes, sector Codes and Mining Charter.
- Assisting with solving problems regarding various B-BBEE challenges across the 5 elements of the DTI Codes.
- Assisting and advising on Enterprise Development, Supplier Development and Socio Economic Development initiatives for clients.
- B-BBEE verification preparation.
- B-BBEE due diligences, particularly for potential acquisitions.
- B-BBEE spend structuring.
- B-BBEE forensic investigations.
- Company valuations.
- Company due diligences.
- Appointment and management of appropriate experts where required, typically legal advisors and sometimes tax opinions
- End-to-end transaction advisory and implementation services.
- Organising and managing B-BBEE certification processes for clients.
Can you Alchemy assist with transactions?
Alchemy assist with structuring deals and assist with reviewing post deal implementation. As an independent advisor Alchemy assist clients with strategically deciding on the most appropriate empowerment strategy before embarking on designing and structuring partnerships.
What B-BBEE forensic services can Alchemy offer?
Alchemy offer ownership, members and or directorship probity reviews and fronting investigations.
What is B-BBEE
Broad-Based Black Economic Empowerment (BBBEE or B-BBEE) was developed as a form of economic empowerment by the South African government in response to criticism against narrow-based empowerment instituted in the country during 2003/2004.
While narrow-based black economic empowerment led to the enrichment of a few previously disadvantaged individuals (Black African, Coloured or Indian), the goal of broad-based empowerment is to distribute wealth across as broad a spectrum of previously disadvantaged South African society as possible. In contrast, narrow-based empowerment measures only equity ownership and management representation.
What are the potential benefits of B-BBEE?
- Opens up opportunity to greater participation in the formal South African economy.
- Increased opportunity to reduce the loss of business to competitors that are B-BBEE compliant.
- Potential access to tax incentives and financial grants which target the B-BBEE programme.
- Enable better positioning for procurement by B-BBEE verified enterprises and the Public Sector.