| What is BEE? | | | | Affirmative Action exclusively led to more positions |
| BEE refers to measures, actions or programmatic | | | | being filled by black candidates; BBBEE, however, |
| steps geared to enable meaningful participation of | | | | strives toward the implementation of the following |
| black people in the economic mainstream. It is a | | | | seven pillars: |
| response to our particular reality born of racial | | | | - Equity Ownership |
| capitalism, the fusion of apartheid with the capitalist | | | | - Management |
| system. | | | | - Employment Equity |
| Rationale for BEE | | | | - Skills Development |
| The BEE commission, chaired by Cyril Ramaphosa, | | | | - Preferential Procurement |
| and assisted by Saki Macozoma, Derek Cooper, | | | | - Enterprise Development |
| Patrice Motsepe, Gloria Serobe, Danisa Baloyi, Buhle | | | | - Residual Element/Corporate Social Investment |
| Mthethwa, Vuyo Jack, Ronnie Ntuli, Loyiso Mbabane, | | | | Of these, Employment Equity account for only 10 |
| Imogen Mkhize, Alan Hirsch, Philisiwe Buthelezi and | | | | percent. |
| Lionel October, broadly outlined BEE in a 2000 report, | | | | The first set of Codes of Good Practice, released on 1 |
| which led to the government's implementation of BEE. | | | | November 2005, dealt mostly with Ownership and |
| Many companies see it not only as a moral obligation, | | | | Management. The second set was released on 20 |
| but also as a business reality. Its aim is to incorporate a | | | | December 2005 and these dealt with special codes |
| substantial amount of skilled black workers (African, | | | | for SMMEs (small, medium and micro enterprises). |
| Coloured and Indian) into the workforce. | | | | The final Codes of Good Practice, which deals with |
| Black Economic Empowerment led to the creation of | | | | Scorecards, Small Enterprises and Skills Development, |
| Broad Based Black Economic Empowerment, as | | | | amongst others, were released on 9 February 2007. |
| many groups felt BEE did not live up to its objectives. | | | | Definitions |
| The government introduced the Broad Based Black | | | | A black company is one that is at least 50.1 percent |
| Economic Empowerment Act 53 of 2003. | | | | owned by black people. |
| With BBBEE, ownership is only one of seven criteria | | | | A black empowered company is at least 25.1 percent |
| upon which a company's empowerment score is | | | | owned by black groups. |
| calculated.The purpose of BBBEE is to create | | | | A black woman-owned enterprise is represented by |
| economic empowerment for the many groups who | | | | at least 21.5 percent of black women at equity and |
| were not on an equal footing: all black people, women, | | | | management level. |
| youth, the disabled, and those in rural areas. | | | | Moneybiz, a leading African Financial Information portal, |
| A company's Employment Equity policy is just one | | | | brings you all the insider news and information on BEE |
| way in which to measure its transformation. | | | | procedures. |