Feb 16, 20231 min read

DEVELOPMENT IS MORE THAN MONEY

17 February 2023

Financial contributions to Enterprise Development or Supplier Development beneficiaries must demonstrate sustainability to qualify for claims. Such claims require evidence of the organization's impact on growth, sustainability, and operational and financial independence. Contributions can be monetary or in the form of assets, like upgrading equipment, with claims based solely on the value of these assets. It is important to note that only the asset or upgrade qualifies for a claim, while other invoice items are not recognized. Claims are valid regardless of whether the assets are new or pre-owned and whether they are imported or locally produced. To assist with ensuring that contributions are authentic and meet necessary criteria, Enterprise & Supplier Development Services are available.

Whilst making a financial contribution to an Enterprise Development or Supplier Development Beneficiary is deemed a contribution, it does not always constitute a sustainable claim. A claim for each of these sub-elements needs evidence that demonstrates an organisation’s intervention has contributed to growth, sustainability, as well as operational and financial independence.

The monetary route is one contribution option. However, other avenues are contributing an asset or upgrading equipment. In such a case, the value of the asset or the upgrade will determine the claim. It is important to note that only the asset or upgrade is a claim. A B-BBEE Rating Agency will not recognise other line items on an invoice that do not relate to the initiative.

When submitting a claim for granting an asset, it is irrelevant whether it is new or pre-owned, imported or locally produced.

The Enterprise & Supplier Development Services are available to help members ascertain that their investment is an authentic contribution.