Update: In late August 2024, the PPRA wrote to Rebosa and withdrew the requirement for Level 8 BEE in order to get a FFC. We will keep watching this space. For Property Practitioners who wish to jump ahead (especially those in a B2B environment) please contact us as our ownership solution is cheaper than the other scorecard elements combined, and a lot simpler…
A valid Fidelity Fund Certificate (FFC) is required to trade as a Property Practitioner. From 2025, the PPRA (whose very purpose is to transform the industry) have repeatedly made it clear that FFC’s will not be given to Property Practitioners who score lower than a Level 8 (40 points) on the BEE scorecard (merely submitting an otherwise valid certificate isn’t enough).
While Property Practitioners with turnovers below R2.5M are regarded as exempt, since the R2.5M level doesn’t adjust with inflation this effectively means that anyone with growth ambitions is now on the transformation journey.
For those above R2.5M turnover this is now both important and urgent; the 2025 deadline looms and without the FFC you cannot trade.
BEE compliance can be a real pain: the BEE scorecard is complex and there are many service providers of (highly) variable quality covering each of the elements. Vendor selection and scorecard management is a nightmare.
However, there is an easier way: you can achieve entirely legitimate 51% BEE ownership without giving up actual ownership or control, and with 51% ownership you will achieve an automatic Level 2 – meaning that nothing further needs to be done re BEE until you cross the R35M “Generic” threshold, and until then only an affidavit is required – meaning you can also avoid the cost of a BEE verification. For Agencies selling between ±R30M and ±R700M of property per year this is recommended route.
How to achieve legitimate BEE ownership without giving up actual ownership or control? Chat to us: Tusker is an expert solution provider in the BEE ownership space and is trusted with over R1.2B of client assets which are legitimately BEE-owned through our approach.
We would love the opportunity to help you solve this problem, quickly, simply and affordably. info@tusker.co.za
