Broad-based black economic empowerment
Broad-Based Black Economic Empowerment (B-BBEE) is a South African policy aimed at improving economic participation among black individuals, who were historically marginalized. It encourages businesses to promote equity through various means, such as employment, skills development, ownership, and procurement from black-owned companies. The goal is to create a more inclusive economy that addresses past injustices by ensuring that black South Africans have greater access to economic opportunities and benefits. This initiative is vital for achieving social and economic equality in the nation.
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Broad-Based Black Economic Empowerment (B-BBEE) is a South African policy aimed at improving economic opportunities for black individuals and communities who were historically disadvantaged under apartheid. It focuses on promoting ownership, management, skills development, and socio-economic participation for black citizens in the economy. The goal is to create a more equitable society by ensuring that economic growth benefits a wider segment of the population, thus addressing economic disparities and encouraging inclusive growth. B-BBEE is often implemented through a scorecard system that businesses use to measure their contributions to this empowerment.