Why B-BBEE?

The legacy of apartheid has excluded the majority of South Africans from ownership and/or control of productive assets and resources as well as severely restricting the acquisition of advanced skills and generally the effective participation in the economy.

Since the new democracy, Broad-Based Black Economic Empowerment (B-BBEE) has been adopted as an initiative of the South African Government aimed at promoting economic transformation in order to enable meaningful participation of black people in the economy. The BEE Act of 2003 outlines the required targeted areas of development within the South African economy. These key development areas have measurable outcomes in ensuring a path to greater broad-based and effective economic participation, the right to equality, increased employment, more equitable income distribution, economic unity of the nation, equal opportunity and access to services and protection of the common market place.

In October 2013 the revised Codes of Good Practice were gazetted defining the framework for the measurement of broad-based BEE across all sectors of the economy. The Codes specifically set about defining the 5 new measurable scorecard elements of Ownership, Management Control, Skills Development, Enterprise and Supplier Development and Socio-Economic Development.