What AQRate BEE Verification does

AQRate (Pty) Ltd is a South African-based, SANAS-accredited BEE Rating Agency that conducts independent audits under the Broad-Based Black Economic Empowerment (B-BBEE) Codes of Good Practice, issuing B-BBEE Certificates to businesses of all sizes. The company serves three principal customer segments: Exempt Micro Enterprises (EMEs) with annual turnover below ZAR 10 million, Qualifying Small Enterprises (QSEs) with turnover between ZAR 10 million and ZAR 50 million, and Large Enterprises (Generic) with turnover exceeding ZAR 50 million, with a particular emphasis on JSE-listed companies and large South African corporates across insurance, retail, media, marine, and business services.

The core technology is a B-BBEE verification audit platform executed under the SANAS R47 framework and the Dtic Verification Manual, covering all seven scorecard elements: Ownership, Management Control, Skills Development, Preferential Procurement, Supplier Development, Enterprise Development, and Socio-Economic Development. The platform's notable technical components include an internationally compliant electronic signature system that uses crypto-based technology to lock and secure certificate content after signing, with an electronic audit trail and tamper recognition. AQRate was also retained to assist three Sector Charter Councils (Forestry, Property, Tourism) in drafting sector codes, underscoring regulatory-grade domain specialisation.

The company operates a professional services model with quote-based pricing that varies by entity size, turnover bracket, sector code applicability, and service complexity. Fees are settled via credit card or bank transfer upon completion of the audit, and services are scoped individually by verification consultants. Go-to-market is direct, combining enterprise field sales to JSE-listed companies with an inbound website quote-request form that captures detailed business information for EME, QSE, and mid-market prospects. There are no channel partners or resellers; all verification is delivered by AQRate staff to preserve SANAS independence, and clients are concentrated in South Africa with offices in Bellville (Western Cape) and a KZN operation. AQRate is privately held, with leadership comprising CEO Jeanette Buys, COO Shireen Pienaar, Technical Director Gabi Greyling, Technical Manager Jacques Manus, and Directors Mokgadi Rameetse and Lizel Loibner-Smuts.

Name

AQRate BEE Verification

Legal name

AQRate (Pty) Ltd

Website

https://aqrate.co.za

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

AQRate (Pty) Ltd is a South Africa-based, SANAS-accredited BEE Rating Agency offering independent B-BBEE audits and certificates to EME, QSE, and large enterprises, with particular focus on JSE-listed companies.

Ownership category

akta.pro rank

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. BEE Verification Services: AQRate charges fees for conducting independent B-BBEE verification audits across EME, QSE and Large Enterprise categories. Pricing is quote-based and determined by entity size, complexity, and sector code applicability. Payment is made via Visa or MasterCard credit cards or by bank transfer, with payment commencing as the final step in the audit procedure.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

AQRate conducts independent B-BBEE verification audits for South African entities across three size categories — EME (turnover below R10 million), QSE (R10–R50 million) and Large/Generic (above R50 million) — culminating in the issuance of a SANAS-accredited B-BBEE Certificate. Supporting deliverables include Non-Compliant certificates, Competent Persons Reports, Draft Scores and B-BBEE Opinions. Services are priced per engagement based on entity size, complexity and applicable sector code, and are delivered entirely in-house by AQRate's verification consultants and technical signatories.

Product overview

AQRate is a BEE Rating Agency offering a unified portfolio of verification services for businesses of all sizes. The core offering consists of BEE Verification Services delivered through three service modules: Small Enterprise (EME) Verification for businesses below R10 million turnover, Medium Enterprise (QSE) Verification for businesses between R10 million and R50 million, and Large Enterprise (Generic) Verification for businesses exceeding R50 million. Upon completion of the independent audit process, clients receive a B-BBEE Certificate. The company also provides a Quote Request service for prospective clients.

Differentiator

Problem solved

Functional benefit

Products and services

• BEE Verification Services Independent audit process to verify and validate the Broad-Based Black Economic Empowerment (B-BBEE) status of a South African legal entity, resulting in a SANAS-recognised B-BBEE Certificate per the Broad-Based Black Economic Empowerment Codes of Good Practice.
• Small Enterprise (EME) BEE Verification BEE verification services for South African Exempt Micro Enterprises (EMEs) with annual turnover below R10 million, establishing automatic B-BBEE status levels (Level 4 default; Level 2 at 51% Black Ownership; Level 1 at 100% Black Ownership).
• Medium Enterprise (QSE) BEE Verification BEE verification services for South African Qualifying Small Enterprises (QSEs) with annual turnover between R10 million and R50 million under the QSE scorecard, with automatic Level 2 status at 51% Black Ownership and Level 1 at 100% Black Ownership.
• Large Enterprise (Generic) BEE Verification BEE verification services for South African Large Enterprises with annual turnover exceeding R50 million per annum, measured against the full generic B-BBEE scorecard spanning Ownership, Management Control, Skills Development, Preferential Procurement, Supplier Development, Enterprise Development and Socio-Economic Development.
• Competent Persons Reports Standalone Competent Persons Report deliverables offered by AQRate, selectable by clients when requesting a quote for engagement scoping.
• B-BBEE Draft Scores Preliminary B-BBEE Draft Score deliverables offered by AQRate, selectable by clients when requesting a quote, typically used ahead of full verification to estimate potential scores.
• B-BBEE Opinions Expert B-BBEE Opinions offered by AQRate as a separately selectable service, used by clients seeking formal technical interpretations on B-BBEE-related questions.
• Non-Compliant BEE Certificates Issuance of Non-Compliant BEE certificates for entities that undergo the AQRate verification audit but do not meet the required B-BBEE thresholds, providing formal documentation of their assessed status.

Quantifiable outcome

• B-BBEE certificate issuance confirming entity compliance with B-BBEE Act and Codes of Good Practice
• +1 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Association of B-BBEE Professionals (ABP)coreStrategic or Co-development Partner · 1 August 2022AQRate directors Mokgadi Rameetse and Lizel Loibner-Smuts were elected to the ABP Board for two years. Mokgadi serves as Chairperson developing relationships with stakeholders. Lizel oversees Technical portfolio including engagement with Dtic and SANAS, plus PR, marketing and membership development. The ABP is the first and only industry Professional Body for B-BBEE Verification Agencies.
• South African National Accreditation System (SANAS)coreStrategic or Co-development PartnerSANAS is the national accreditation body that grants and maintains AQRate's accreditation to issue legally recognised B-BBEE Certificates under the SANAS R47 framework. AQRate displays its current 2023 SANAS accreditation certificate on its website.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Honeycomb BEE Ratings: Established SANAS-accredited B-BBEE rating agency serving large corporates and JSE-listed companies across South Africa. Directly competes with AQRate in the enterprise verification segment with comparable SANAS-accredited methodology.
• NERA (National Empowerment Rating Agency): South African B-BBEE verification and rating agency providing independent verification across EME, QSE, and Generic scorecards. Directly competes with AQRate for accredited rating agency engagements.
• EconoBEE: South African B-BBEE verification agency and information provider serving SMEs and larger enterprises. Directly overlaps with AQRate in offering B-BBEE verification and related advisory services.
• Empowerdex: One of the largest and oldest SANAS-accredited B-BBEE verification agencies in South Africa, offering EME, QSE, and Generic verification plus advisory services. Directly competes with AQRate for JSE-listed and large-enterprise clients.
• EmpowerBEE: South African B-BBEE verification and consulting firm accredited to issue certificates across EME, QSE, and Generic categories. Directly competes with AQRate in the accredited rating agency market.
• BBBEE Solutions: South African B-BBEE verification and advisory firm offering SANAS-aligned rating services to corporates and SMEs. Competes with AQRate in the mid-market and QSE verification segments.
• Siyandisa BEE Verification: South African SANAS-accredited B-BBEE rating agency offering verification and transformation advisory services. Comparable competitor to AQRate in serving medium and large South African enterprises.

Others

• Association of B-BBEE Professionals (ABP): Industry professional body for B-BBEE verification agencies and consultants in South Africa. AQRate directors sit on the ABP Board; relevant as the industry governance and standards-setting counterpart rather than a competitor.

Emerging players

• SwiftVee: South African digital-first B-BBEE verification platform targeting SMEs with streamlined online verification. Represents a potential technology-driven disruptor to traditional manual verification agencies like AQRate.

Broad incumbents

• Big Four Audit Firms (Deloitte, PwC, EY, KPMG South Africa): Major global audit and advisory firms operating in South Africa with assurance practices that can perform B-BBEE verification through accredited subsidiaries. Compete with AQRate for the largest JSE-listed clients while offering broader transformation advisory.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/thebbbeeguy
• Facebookfacebook.com/aqrate-verification-services-149740435222877
• LinkedInlinkedin.com/company/aqrate-verification-services

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AQRate BEE Verification