Black Economic Empowerment

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An economy cannot grow without the inclusion and meaningful participation of all of its citizens. During the years of ‘apartheid’, most South Africans were excluded from generating and accumulating wealth, this led to poverty and suffering for a majority of the population. An unequal economy was the result and black economic empowerment (BEE) is an attempt to rectify this situation by widening and strengthening the foundations for growth through increased black ownership and control of assets.

In 2007 the initiative was expanded to a Broad-Based BEE platform to include smaller businesses and open up even more opportunities. It is beginning to pay dividends in terms of providing more equitable ownership and access to capital. The strategy is not just to redistribute but rather to grow the economy so that all can participate and benefit. Significant gains have already been made in this regard. The policy revolves around a voluntary BEE scorecard that rates companies according to whether ownership and management profiles have progressed in terms of inclusion; the level of employment equity and staff training as well as direct empowerment initiatives. Companies wanting to do conduct business with the government in public-private partnerships, purchase state-owned assets or tender for business and apply for licences and concessions need to adhere to the BEE codes and rank highly according to the scorecard.

Please Contact Us to request a copy of our BEE certificate.

Black Economic Empowerment is helping fuel an economic and social revolution as millions start to enjoy disposable income and upward mobility for the first time.” Jim Sutcliffe – CEO of Old Mutual plc