South African Business 2018 edition

PROFILE
VeriFi
VeriFi is the leader in the business of verification and
certification for BBBEE recognition.
South Africa requires an economy that can meet the
needs of all its economic citizens, its people and their
enterprises in a sustainable manner. Government’s
objective is to achieve this vision of an adaptive
economy characterised by growth, employment
and equity. Achieving authentic BEE has required a
reassessment of traditional business models and corporate
cultures. The Bill, code and strategy document
rely upon core policy instruments that have been
designed to bring about BEE. These instruments are
essentially measurement tools that will permit the
public and private sectors to evaluate the BEE status
of a particular enterprise. Failure to adapt to the new
paradigm will have significant consequences. A real
commitment to BEE is now a business imperative.
Description of services
• assess and certify BBBEE rating;
• provide insight into BBBEE challenges facing
various organisations;
• provide insight and guidance on the actions
required to elevate BBBEE status; and verification
of supplier BBBEE status.
With BBBEE recognised as an imperative by companies
committed to building an equitable South
Africa, verification is an essential requirement that
confirms a company’s participation and contribution.
Verification is performed in a manner similar to
that of a financial audit: it provides an independent
assessment of investment, performance and initiatives
in a control system. Criteria against which
companies are measured are provided by government
and like an audit, verification must be
performed annually.
Target markets
Small, medium and large enterprises achieving
an annual turnover of below R10-million and over
R50-million respectively (including all charter
sectors).
Pricing
Pricing for BEE consultancy services is based on
the client’s requirements and can be structured
on an hourly or monthly basis.
For BEE Verification and issue of a BEE Compliance
Certificate, please contact the office for the
current rates.
SOUTH AFRICAN BUSINESS 2018
114