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BBBEEBroad Based Black Economic Empowerment (South Africa)
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Deputy Minister of Trade and Industry, Gratitude Magwanishe, who inspired the theme for this years conference emphasised the need to accelerate Broad Based Black Economic Empowerment, especially for the most marginalised groups such as black women, workers and young people in light of opportunities that the B-BBEE Act presents but not fully realised by government through procurement, licences, concessions, etc.
According to the company, during 2015, significant changes were made to the Broad Based Black Economic Empowerment (BBBEE) legislation in South Africa necessitating a review of BTS investment in AvoVision.
The 2013 Good Business Award calls on all Development Bank clients to enter the competition, in which the merits of the enterprises are adjudicated by a judging panel, and rated based on various key developmental issues Factors of particular note are the number of jobs created or retained, managerial capacity, business administration and contribution to broad based Black Economic Empowerment.
Since coming to power, the ANC government has embarked on an extensive program of affirmative action by means of laws (eg, employment equity, broad based black economic empowerment, land reform) and polices (quotas for sports teams; content and language of public broadcasting) to achieve redress.
I am also pleased to report that the DMR together with the IDC and PIC have held several seminars to promote Broad Based Black Economic Empowerment in the sector.
The Minister of Mineral Resources, Mr Mosebenzi Zwane (MP) published the draft reviewed Broad Based Black Economic Empowerment Charter for the South African Mining and Minerals Industry, 2016 (the draft reviewed Charter) in the Government Gazette for public comments on Friday 15th April 2016.
The background to this action by Minister Davies is that on 15 May 2015, all the existing Sector Codes which were not aligned to the Amended Broad Based Black Economic Empowerment (B-BBEE) Codes of Good Practice were given further extension to complete the alignment process by 30 October 2015.
The BEE Scorecard Improvement Programme (BEESIP) will assist 100% black-owned and black women-owned enterprises (BWOEs) to improve their broad based black economic empowerment (B-BBEE) status levels.