Work equality: Broad-based black economic empowerment (B-BBEE)
27th March 2011, 1 comment
Broad-based black economic empowerment (B-BBEE) is a government initiative seeking transform economic structures such that black people are enabled to participate in the South African economy in a meaningful fashion.
'Black people' are defined as meaning Africans, Coloureds (including Chinese) and Indians as natural persons who are citizens of South Africa by birth or descent.
All companies and organisations are encouraged to comply with B-BBEE Codes of Good Practice and they are required to demonstrate their B-BBEE credentials based on measurable indicators and targets across seven scorecard elements. However, the B-BBEE compliance standard and environment remains voluntary and self-regulatory.
The seven elements of the B-BBEE scorecard are as follows:
- management control
- employment equity
- skills development
- preferential procurement
- enterprise development
- socio-economic development
To obtain a copy and for a more detailed guide to the Department of Trade & Industry’s B-BBEE scorecard, please visit www.thedti.gov.za
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27th June 2011, 16:50:39 Diane Albertyn posted:Good overview. The B-BBEE Codes can be complex. We help companies become B-BBEE compliant. Feel free to contact us if you need asssitance. www.olivetreebee.co.za