Broad-based Black Economic Empowerment

Advancing economic transformation

The IDC supports Broad-based Black Economic Empowerment (BBBEE), a government policy to advance economic transformation and enhance the economic participation of black people in the South African economy.

We want to play our part in bringing the majority of South Africans into the mainstream economy by:

• Boosting black ownership, management and employment equity;
• Skills development of black employees;
• Supporting government projects at local, provincial and national levels, adhering to the principles as set out in the BBBEE legislation;
• Encouraging our stakeholders to comply with our BBBEE policies;
• Getting involved in discussions and policy inputs; and
• Encourage the private sector to co-finance BBBEE transactions.

When considering funding applications, we assess each project’s ability to meet some or all of the following requirements:

• Job creation;
• Rural development;
• Urban renewal;
• Poverty alleviation;
• The empowerment of women; and
• Skills development;

Useful information

The Codes of Good Conduct on Black Economic Empowerment, published in Government Gazette 59617 on 9 February 2007, provide the framework for companies to be rated. These codes were amended in Government Gazette 33900 on 31 December 2010.

• Ownership: Measures effective ownership of enterprises by black people.
• Management control: Measures effective control of enterprises by black people.
• Employment equity: Measures initiatives intended to achieve equity in the workplace.
• Skills development: Measures the extent that employers carry out initiatives designed to develop the competencies of black employees.
• Preferential procurement: Measures the extent that enterprises buy goods and services from BEE compliant suppliers as well as black owned entities.
• Enterprise development: Measures the extent to which enterprises carry out initiatives contributing to enterprise development.
• Socio-economic development: Measures the extent to which enterprises carry initiatives contributing to socio-economic development.
• Qualifying small enterprises: Measures the extent to which enterprises carry out contributions made by qualifying small enterprises.

For more information on BBBEE codes.

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