BBBEE (Broad-Based Black Economic Empowerment)

Broad-Based Black Economic Empowerment (BBBEE) is a South African policy aimed at increasing economic participation and ownership for historically disadvantaged Black South Africans. It seeks to promote transformation by encouraging companies to improve employment equity, develop skills, and invest in Black-owned businesses. The goal is to reduce economic disparities and foster inclusive growth, ensuring broader access to economic opportunities across society. Companies are scored according to BBBEE levels, influencing their ability to secure government contracts and enhancing their reputation. Overall, it’s a framework designed to create a more equitable and diverse economy in South Africa.