The Financial Sector Transformation Council (FSTC) published Reporting Notice 2 of 2024 regarding the submission of broad-based Black Economic Empowerment (B-BBEE) compliance reports for the period 1 December 2023 to 31 December 2024.
The Notice requests all entities operating in the financial sector to submit B-BBEE compliance reports for the 2023/24 period to the FSTC by close of business 31 March 2025.
Reports must be submitted via email to reporting@fstc.org.za using the subject: FSTC 2023/24 Reporting – NAME OF ENTITY.
Requirements:
1. Exempted Micro Enterprise (EME) – those with a total annual revenue of up to R10 million, must submit:
2. Qualifying Small Financial Institution (QSFI) – those with an annual revenue of more than R10 million but less than R50 million, must submit:
– NB: QSFIs that do not have a minimum of 51% Black Ownership will have to be verified and obtain a verification certificate to confirm their B-BBEE Status.
3. Generic Enterprise (GE) – those with annual revenue of R50 million or more, must submit:
– B-BBEE verified Certificate
– B-BBEE verified Scorecard
All enquiries relating to the submission of the required documents should be directed to the FSTC at reporting@fstc.org.za or call 087 062 5950.