The Financial Sector Transformation Council (FSTC) has issued Reporting Notice 01 of 2025, formally calling on financial institutions to submit their annual verified B-BBEE compliance reports for issue dates between 1 January 2025 and 31 December 2025.
This requirement, in accordance with Section 10(4) of the B-BBEE Act 53 of 2003 and Statement FS000, Paragraph 8.5 of the Financial Sector Code (FS Code), ensures that institutions operating within South Africa’s financial sector remain transparent and accountable in their transformation efforts.
All financial institutions are expected to submit verified documentation reflecting their progress in implementing the FS Code. Entities are classified as follows:
- Generic Entities (turnover >R50 million): Must submit a verified B-BBEE certificate and scorecard.
- Qualifying Small Financial Institutions (QSFIs) (R10 million < turnover < R50 million): Must submit an affidavit using the prescribed FSTC template, available on the Council’s website, or verification certificate if they do not meet the 51% Black Ownership threshold.
- Exempted Micro Enterprises (EMEs) (turnover ≤ R10 million): Must submit a sworn affidavit using the prescribed FSTC template, available on the Council’s website.
To ensure validity, all affidavits must be fully completed, clearly indicating the financial year-end, contain matching deponent and commissioner dates, and be issued within the 2025 reporting period.
All required documentation must be submitted by close of business on the 27 February 2026. Submissions should be emailed to reporting@fstc.org.za with the subject line: “FSTC 2025 Reporting – [Name of Entity]”.