STATISTICS / DEMOGRAPHICS / HISTORY
Year founded: 2003
Founding members: Chris van Wyk, Linda Ngcobo, Brigitte Brun
Branches: 3 (Gauteng, KZN, Cape Town)
Trade affiliations: South African National Accreditation System (SANAS); International Regulatory Board of Auditors (IRBA)
Memberships: Association of BEE Professionals (ABP)
BUSINESS & FINANCE
Major accounts / key clients: JSE, Sanlam, Santam, Old Mutual, Mutual & Federal, Discovery, OUTsurance, Clientèle, Allan Gray, Prudential, Capitec, PSG , Curro, Steinhoff, Imperial, Grindrod, Smit Amandla Marine, Pioneer Foods, Distell, Naspers, Media 24, Engen, Shoprite, Truworths, Lewis; Spar, Tongaat Hulett, Hulamin, Kwazulu-Natal Provincial Government; and many more.
Black Empowerment Level – shareholding (%):
A >51.0 % black shareholding
Gender Empowerment Level – shareholding (%):
A >50.1% female shareholding
Black Empowerment Level – executive directors/senior management (%):
B 25.1%-50% black executive directors
Gender empowerment level – executive directors/senior management (%):
A >50.1% female executive directors
Black Empowerment – total staff (%):
B 25.1%-50% black staff
Gender empowerment – total staff (%):
A >50.1% female staff
What is your BEE contribution level?
Level 1 B-BBEE
Independent Credible Assurance
AQRate is a group of private companies that strives to be the market leader in terms of service, quality, innovation and operational expertise. We were established in 2003 to meet the corporate sector’s need for a credible empowerment rating agency with national representation. We have a proud history in the industry, having been one of the founding members of Association of BEE Verification Agencies (ABVA).
AQRate Verification Services provides exceptional service to clients throughout South Africa AQRate (Pty) Ltd and AQRate KZN (Pty) Ltd accounted for 2 out of the first 11 verification agencies that were initially accredited by the DTI in 2009. Our national presence affords us the market presence associated with a true market leader.
AQRate was also one of the 1st Verification Agencies to attain approval as Verification professionals with IRBA. The maintenance of this dual accreditation approval status talks to our commitment to the highest standards of professionalism and ethicacy.
Officially the No1 BEE Verification Agency in SA
Our experience, professional expertise and specialized Broad-Based Black Economic Empowerment (B-BBEE) knowledge have gained us the respect of our peers in industry and government, earning us recognition as industry authorities and commentators on B-BBEE. Official recognition of this came when we were recently rated the no. 1 BEE Verification Agency in the country for the years 2013 & 2014 and again for 2015 & 2016 by the prestigious Top500 Companies Survey.
Preferred service provider to top JSE listed companies
AQRate has distinguished itself as a leader in the verification of large corporate and listed entities and are regularly sub-contracted by the other accredited verification agencies. We are the Verification Agency for more of the Top 100 listed companies on the JSE than any of our competitors. As such we have also been engaged by the JSE to oversee the methodology in the analysis of the black ownership in the Top 100 listed companies on the JSE. As part of phase 2 of this project AQRate have been tasked with verifying the methodology and findings of a pioneering study into the black ownership of mandated investments in South Africa. This makes AQRate the only verification agency in the country able to verify this component of ownership – a significant differentiator from our competitors.
Top Publisher of Academic literature on B-BBEE
Of the 6 Academic publications on B-BBEE, 3 comes out of AQRate. 2 of these are by Lexis Nexis: “Empowermentor” a loose-leaf publication and “The Practical Guide to the Amended B-BBEE Codes of Good Practice”. The third is a JUTA publication called the “B-BBEE Scorecard Manual”.
Drafting of Legislation
AQRate has also been commissioned to assist with the drafting of some of the sector codes and amendments thereto. The ABVA Best Practice notes on interpretation was also an initiative lead by AQRate.