Further Proposed Changes To The Generic B-BBEE Codes

The South African Broad-Based Black Economic Empowerment Act, 2003 (the "B-BBEE Act") is the current framework regulating broad-based black economic empowerment ("B-BBEE"). The Revised B-BBEE Codes, published in October 2013, detail how B-BBEE scores are to be measured for purposes of the B-BBEE Act, taking into account:

• ownership of entities;
• board participation, management control and employment equity;
• skills development of employees and unemployed people;
• enterprise and supplier development, including preferential procurement aimed at ensuring that black people benefit from South African procurement of goods and services; and
• socio-economic development contributions.