ANNUAL SUBMISSION OF VERIFIED B-BBEE COMPLIANCE REPORTS
The Financial Sector Transformation Council (FSTC) has issued a notice calling for the submission of B-BBEE Reports for the measurement period 1 December 2020 to 30 November 2021.
All reporting entities should complete and submit this CEO Survey, as well as the following documents:
Type of Entity
To be submitted
Exempt Micro Enterprises (EMEs)
Any enterprise with total annual revenue of up to R10 million (i.e., R10 million or less). A start-up enterprise must be measured as an EME for the first year following the commencement of its operations, regardless of the expected total revenue of the start-up enterprise.
Level 1 and 2 Qualifying Small Financial Institution (QSFIs)
A measured entity with total annual revenue of more than R10 million but less than R50 million. A QSFI that is 100% black owned qualifies for level 1 B-BBEE recognition. A QSFI that is more than 50% black owned (where there is an existing equity deal in place) or at least 51% Black Owned (for all deals concluded after 1 December 2017), but less than 100% black owned, qualifies for level 2 B-BBEE recognition.
Submission should be made no later than the close of business on Friday, 12 August 2022. All reports should be submitted electronically via the FSTC Dropbox link: https://www.dropbox.com/request/YYZggWgIZT3BwJrh4AP5, with the folder named: FSTC 2020/21 Reporting – (name of entity).
Entities that have made a submission to the FSTC are advised to upload the documents to the above FSTC Dropbox link.