FNB Business has partnered with Empowerdex to process applications of BEE certificates through its fast online banking channel.
Sanjeev Orie, CEO of Value-Adds at FNB Business said: “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,” said Kungwayo.
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.