Economic Growth, Inclusivity, Ownership & Employment Equity 

Broad-based Black Economic Empowerment (B-BBEE) is a policy of the South African government that aims to promote economic inclusion and improve the representation of black people in the country’s economy. This is achieved through a set of affirmative action measures, such as preferential procurement, ownership, and employment equity, which aim to give black people greater access to economic opportunities and resources. 

B-BBEE is important for many reasons. By promoting the inclusion of black people in the economy, B-BBEE creates a more equitable and sustainable business environment, which benefits all stakeholders, including companies, employees, and communities. 

  • B-BBEE promotes economic inclusion through preferential procurement, which requires companies to prioritise suppliers and contractors who are owned or managed by black people. This helps to create economic opportunities for black-owned businesses and enables them to grow and thrive. 
  • B-BBEE aims for ownership equity to increase the representation of black people as owners and shareholders of companies. This can be achieved through a variety of initiatives, such as the sale of shares to black investors, the creation of employee share ownership plans, and the use of broad-based ownership schemes. 
  • B-BBEE encourages employment equity, which requires companies to take proactive steps to ensure their workforce is representative of the broader population. This includes setting targets for the recruitment and promotion of black employees, as well as providing training and development opportunities to help them advance in their careers. 
  • B-BBEE creates a more diverse and competitive business environment. When businesses are owned and controlled by a diverse group of people, it leads to more innovative and creative solutions to problems. 

Broad-based Black Economic Empowerment is thus a key policy in South Africa. Its objectives include improving the economic position of black South Africans and creating a more inclusive, diverse, and competitive business environment. It addresses previous imbalances to create a more competitive and innovative business environment and promote economic growth and social development for all. 

Siyaya Consulting is committed to helping organisations reap the many rewards of being B-BBEE compliant, which go beyond compliance. We offer complete B-BBEE consulting with exceptional expert advice and personalised service. We customise solutions for your specific requirements and assist in acquiring contributor status, calculated against targets, giving a score. As an externally verified Level 1 B-BBEE contributor, select us as your preferred supplier, and earn a possible 135% against procurement recognition.

B-BBEE Consulting Solutions that Make a Difference. 

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