Broad Based Black Economic Empowerment (B …

Broad Based Black Economic Empowerment (B-BBEE) in South AfricaApril 2016 The government s Broad Based Black Economic Empowerment (B-BBEE) policy is a transformation imperative but is also viewed as an Economic growth strategy. Embracing B-BBEE has not only proved to be the right thing to do, but is a cornerstone in the Economic growth of our this was the intention, the legislation has been criticised for not achieving true has marked more than a decade of B-BBEE policy in South Africa and given the many criticisms over the last few years, the Department of Trade & Industry (DTI) revised the legislative final B-BBEE Codes were gazetted in October 2013. Even though the draft codes gave one a sense of how hard-hitting the amendements were going to be, it has still come as a shock to Rights Reserved - EY 2016 Benefits/Importance of B-BBEE complianceiThe benefits/importance of complying with B-BBEE are as follows:Address key business risks,Retaining market share,Competitive advantage/preferred supplier,New growth opportunities,B-BBEE serves as a Licence to do business in South CodesPillarsScoreOwnership20 (3)Management control10 (1)Employment equity15 (3)Skills development15 Preferential procurement20 Enterprise development15 SED5 Total points100 (7)2013 Revised CodesPillarsScoreOw

The government’s Broad Based Black Economic Empowerment (B-BBEE) policy is a transformation imperative but is also viewed as an economic growth strategy.

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  Economic, Based, Board, Empowerment, Broad based black economic empowerment, Black

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