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BACKGROUND TO, INTENTION & APPLICATION …
Introduction This guide has been developed as an interpretation aide for individuals and entities seeking to gain further clarity and understanding of the Codes of Good Practice ( the Codes ). This guide should not be viewed as a replacement for the content of the Codes, but rather, should be read in conjunction with each Statement, as a means of further clarification. The Purpose of the Codes of Good Practice Before the release of the Strategy on Broad-Based BEE1, there was no framework in existence for the measurement of broad-based BEE. The Strategy provided the outline of a broad-based scorecard, together with weightings, but did not contain detail on measurement principles and the APPLICATION of the scorecard. By the beginning of 2004 when the BEE Act was promulgated, numerous sectors of the economy had drafted industry charters on BEE and transformation. Whilst some contained scorecards loosely based on the broad-based scorecard contained in the Strategy, others were merely written undertakings of commitment to transformation.
History & Legal Framework When the shortcomings of narrow-based black economic empowerment2 (‘BEE’) became apparent towards the end of the nineteen nineties, a need emerged for a more inclusive
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