QSE Affidavits

The QSE affidavit serves as a declaration of a measured entity’s B-BBEE status and ownership structure, allowing the enterprise to claim its B-BBEE rating and eligibility for various initiatives and opportunities associated with Broad-Based Black Economic Empowerment.

Qualifications for a QSE Affidavit

Turnover Limit:

The measured entity must have an annual turnover between R10-million and R50-million, which classifies it as a Qualifying Small Enterprise under B-BBEE legislation.

Ownership Structure:

The entity can qualify for different B-BBEE levels based on its ownership structure:

100% black ownership automatically qualifies for B-BBEE Level 1.
More than 51% black ownership qualifies for B-BBEE Level 2.
Less than 51% black ownership should be measured according to the industry codes applicable to their sector. This may require a standard verification process rather than a sworn affidavit.

Business Registration:

The business must be officially registered in South Africa and compliant with any relevant local laws and regulations.

Legal Status:

The entity must be a legal business structure, such as a sole proprietor, partnership, company (proprietary limited), or close corporation (CC).

Important aspects to remember before completing a QSE B-BBEE affidavit:

The B-BBEE affidavit is valid for one year from the date that it is stamped by a commissioner of oaths.
The affidavit can only be completed by directors or members of the entity. External third parties are not permitted to complete the affidavit on behalf of the entity.
Ensure complete transparency in your affidavit. Submitting inaccurate shareholder information is considered a criminal offence.