BBBEE

Broad-Based Black Economic Empowerment (BBBEE) is a South African policy aimed at promoting economic participation and redressing inequalities by encouraging businesses to include more black individuals in ownership, management, skills development, and enterprise development. It seeks to foster equitable growth by incentivizing companies to operate inclusively, thereby improving economic opportunities for historically disadvantaged groups. BBBEE scores are used to assess a company's empowerment level, influencing its ability to secure government contracts and participate in certain industries. Essentially, it’s a framework designed to create a more just and balanced economy by integrating previously marginalized communities into mainstream economic activities.