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Black Economic Empowerment

Overview

The revised Broad-Based Black Economic Empowerment ('B-BBEE") Codes of Good Practice ('the B-BBEE Codes') were published on 11 October 2012 in terms of the B-BBEE Act . They B-BBEE Codes are intended to bring clarity and uniformity to compliance targets and the measurement methodology. 


B-BBEE rests on five 'pillars' of black people's participation as measured within an enterprise. These pillars are:

  • ownership (voting rights and economic interest) in the entity by black persons;
  • management control of entities by black persons;
  • skills development and the transfer of skills to black employees;
  • enterprise and supplier development (preferential procurement from black owned entities and the development of black enterprises); and
  • socio - economic development investments.

As transactional attorneys, Webber Wentzel has advised on the largest and most complex B-BBEE transactions implemented in South Africa to date. In addition to advice on the structuring of transactions to derive maximum B-BBEE benefit, we also provide regulatory and compliance advice on issues such as:

  • the interaction between the B-BBEE Codes and various charters which govern enterprises within specific sectors; and
  • the interpretation of the B-BBEE Codes and scorecard, the calculation of an enterprise's 'points' and the structuring of an enterprise to improve its BBBEE profile.

For a PDF copy of the B-BBEE Codes from the South African Department of Trade and Industry, please click here.

For more information please see the section on 'Broad-Based Black Economic Empowerment" in Investing in South Africa.

Key Contacts
Safiyya
Patel
Position:
Partner, Corporate Practice Head
Telephone:
+27 11 530 5853
Department:
Mergers and Acquisitions
Email:
Safiyya.Patel@webberwentzel.com
Adam
Ismail
Position:
Partner
Telephone:
+27 21 431 7383
Department:
Corporate
Email:
adam.ismail@webberwentzel.com
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