A Social Enterprise’s Journey to BEE Success
In today’s evolving business landscape for companies operating in South Africa, Broad-Based Black Economic Empowerment (BEE) compliance is not just an option but a necessity. For companies to thrive in this environment, they must meet BEE requirements without falling into the trap of fronting: a serious risk that can compromise their legitimacy and long-term success.
An international social enterprise found itself in such a position. As a social enterprise focused on developing IT software solutions for schools, they required Level 1 BEE status to meet the tender qualifying requirements of provincial departments of education. The enterprise’s digital education platform has become a beacon of accessible, technologically advanced learning systems, earning numerous accolades for innovation and educational impact.
Despite being in the Information and Communication Technology (ICT) sector, they sought a reliable partner who could provide them with legitimate, risk-free and experienced BEE ownership and ultimately which would be aligned to their own strategic vision. That’s when they found Intombazane, the ideal BEE shareholder for companies looking to remain fully compliant.
Intombazane offered a solution that was not only compliant but also ethically sound, without any risk of fronting. The approach ensured that the international enterprise could secure a Level 1 BEE rating with 12.2% black shareholding. Intombazane tailored its BEE ownership model to meet the diverse needs of the enterprise while maintaining the highest standards of compliance.
Reaping the benefits
By partnering with Intombazane, the enterprise quickly reaped the benefits of their Level 1 status. This rating became a vital asset in their ongoing relationship with Provincial Departments of Education and other stakeholders. Intombazane’s involvement didn’t end with shareholding: their proactive participation helped the company realise significant growth, paving the way for their potential expansion into a larger generic company from their initial QSE (Qualifying Small Enterprise) status.
Unlocking new opportunities
Through their partnership with Intombazane, the enterprise not only achieved BEE compliance but also unlocked new opportunities for expansion and success in the South African market. Their Level 1 BEE status was instrumental in securing contracts with key players in the education sector and their trajectory toward becoming a larger enterprise showcases the lasting impact of genuine BEE ownership.
The perfect partner
For a legitimate and risk-free path to BEE compliance, Intombazane is the perfect partner offering tailored solutions to maximise BEE ownership while minimising disruption and investment. The commitment to sustainable business growth ensure that their clients can meet their empowerment obligations while driving their own success forward.
To learn more about how you can turn B-BBEE into a strategic asset for your business, visit: https://www.Intombazane.org.za