B-BBEE AMENDED CODES EXPLAINED

AT THE BENCH MARK OF EMPOWERMENT B-BBEE AMENDED CODES EXPLAINED *BEE (Black Economic Empowerment) or Broad-Based Black Economic Empowerment (BBBEE) as it is technically known is an initiative by the South African government to address historical imbalances of the country by facilitating the participation of black people in the mainstream economy. Black people refer to African, Coloured and Indian who are South African citizens by birth or by descent, or who were naturalised prior to the commencement of the interim constitution in 1993, or who those would have been able to acquire citizenship by naturalization prior to 27 April 1994 had it not been for the presence of the Apartheid policy. BBBEE is governed by the Broad Based Black Economic Empowerment (BBBEE) Act No. 53 of 2003 and the BBBEE CODES of Good Practice gazetted in February 2007 and the AMENDED CODES of 2013. Who needs to comply / participate Public Sector Procurement Anyone who supplies government or the State-owned Enterprises (Eskom, transnet etc.)

Transnet etc.) or is in a direct line to any of their suppliers Money from government • Anyone trying to become involved in Public-Private Partnerships • Anyone attempting to purchase state-owned assets • Further broadening of BEE net to include govt. grants etc. Regulated Industries & …

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