South Africa’s unique history of institutionalised racial discrimination, which systematically excluded non-white people from meaningful participation in the national economy, necessitates specific measures to address race-based social and economic inequality.
Broad based balck economic empowerment (B-BBEE) legislation is designed to advance the participation of black people in the formal economy, advance black business ownership, and encourage skills development.
B-BBEE is an imperative policy to advance overall societal goals to ensure that enough South Africans are sufficiently skilled and their talents available to be harnessed. It is a national legal framework established to ensure that many more South Africans are actively participating in the economy – recognising that nurturing an inclusive economy is not only a moral but a business imperative.
Download Wesgro's B-BBEE information sheet here.