Broad-Based Black Economic Empowerment (B-BBEE) aims to ensure that the economy is structured and transformed to enable the meaningful participation of the majority of its citizens and to further create capacity within the broader economic landscape at all levels through skills development, employment equity, socio-economic development, preferential procurement, enterprise development, especially small and medium enterprises, promoting the entry of black entrepreneurs into the mainstream of economic activity, and the advancement of co-operatives.
B-BBEE needs to be implemented in an effective and sustainable manner in order to unleash and harness the full potential of black people and to foster the objectives of a pro-employment developmental growth path.
It has been 13 years since the Broad-Based Black Economic Empowerment (B-BBEE) Act came into effect in South Africa, but many business owners – and their employees – remain unclear on what exactly the legislation is for.
To talk about The Real State of B-BBEE, Teboho Mafodi hosts Mr Keith Levenstein – founder of EconoServ and a moderator of the B-BBEE forum on Business Masters – as well as Ms Lianne Friedman, CEO of EconoServ.
