Amended BBBEE Act

The Amended BBBEE Act (Broad-Based Black Economic Empowerment) is a South African law aimed at promoting economic inclusion for Black individuals in businesses. It seeks to address historical inequalities by encouraging companies to improve their BEE status, which affects their ability to win government contracts and gain credibility with other businesses. The amendments strengthen the focus on measurable outcomes in areas like ownership, management, skills development, and socio-economic contributions, making it easier to assess a company's commitment to transformation and empowering previously disadvantaged communities in the economy.