FNB Business has announced a partnership with Empowerdex to process applications for Black Economic Empowerment (BEE) certificates through the Bank’s online banking channel. The online application process is quick, easy and requires that the applicant has all the necessary documentation.
Sanjeev Orie, CEO of Value-Adds at FNB Business says, “This is an exciting development because we are effectively minimising the administrative burden of obtaining BEE certificates, through a fast, cost-effective and efficient application process. BEE certification is a key imperative for most businesses operating in South Africa; therefore, our aim is to accelerate the process through a reliable and user-friendly channel.”
Orie’s comments are echoed by Andile Kungwayo, Divisional Manager from Empowerdex. “This is an exciting partnership because it gives us another platform to efficiently provide a necessary service to South Africa’s businesses. We believe that the joint venture is in line with our mission to provide support to both the public and private sectors in accelerating broad-based black economic empowerment in the country.”
The Department of Trade and Industry (dti) is undertaking a process of reviewing the current BEE codes to encourage compliance and boost the support of SMEs in South Africa. FNB says its application process is flexible enough to adapt to any process changes which could be implemented in future.
Businesses that apply through FNB Online will benefit from a variable discount, depending on the type of entity. Clients can access the new service through their Business Profiles which provide tabs for new applications. Once the applicant has captured their information and confirmed all their details, the system sends the application to Empowerdex to begin a BEE verification process and determine the level of accreditation before issuing a certificate.
“It is incumbent on the private and public sectors to work together to eliminate barriers to doing business in South Africa. We encourage businesses to take advantage of this opportunity and reduce the administrative burden,” concludes Orie.
Source: SA – the Good News