Black economic empowerment scorecard manual

Empowerment is not about giving away or receiving free shares in a business just to meet legislative requirements. Rather, it is a tool for growth and sustainability that every South African business owner should learn how to use. Broad Based Black Economic Empowerment (BBBEE) is the cornerstone of the South. Broad-based black economic empowerment (BEE) is a government policy to advance economic transformation and enhance the economic participation of Black people (African, Coloured and Indian people who are South African citizens) in the South African economy. The Constitution of the Republic of South Africa, , provides all people in South.  · The common scorecard will provide a basic framework for measuring BEE. The scorecard will measure empowerment through ownership, control of assets and enterprises, human resources development, employment equity, preferential procurement bringing about indirect empowerment of other enterprises and communities.

Promote access to finance for black economic empowerment. Increase the extent to which black women own and manage existing and new enterprises, and facilitate their access to economic activities, infrastructure and skills training. Ensure that black-owned enterprises benefit from the government’s preferential procurement policies. These companies are automatically given a B-BBEE Level 1 with a % black shareholding OR a Level 2 with a 51% or more black shareholding OR would be required to undergo a generic B-BBEE scorecard audit with 50% or less black shareholding. Generic – companies with a turnover above R 50 million per annum undergo a generic B-BBEE scorecard audit. 4. Establishment of Black Economic Empowerment Advisory Council 5. Functions of Council 6. Composition of Council and appointment of members 7. Constitution and rules of Council 8. Remuneration and reimbursement of expenses 9. Codes of good practice Status of codes of good practice Strategy for broad-based black economic empowerment

Issued under section 9(1) of the Broad-Based Black Economic Empowerment Act, of The Elements of B-BBEE in terms of Large Enterprise Scorecard. The Codes specifically set about defining the five (5) new measurable scorecard elements of: Ownership. Management Control. Skills Development. Enterprise and. In drafting the latter, the Black Economic Empowerment (BEE) Commission () scores without accounting for the individual elements of the scorecard.