The Broad-Based Black Economic Empowerment ('B-BBEE") Codes of Good Practice ('the B-BBEE Codes') were published on 9 February 2007 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 seven 'pillars' of black people's participation as measured within an enterprise. These pillars are:
As transactional attorneys, Webber Wentzel has advised on the largest and most complex B-BBEE transactions done 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:
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.