Broad-Based Black Economic Empowerment (B-BBEE)

Broad-Based Black Economic Empowerment (B-BBEE) is a South African policy aimed at redressing economic inequalities by promoting the participation of Black individuals in the economy. It encourages companies to transform ownership, management, skills, and employment practices to be more inclusive of historically disadvantaged groups. B-BBEE seeks to create equal opportunities, foster economic growth, and address the legacy of apartheid by rewarding businesses that demonstrate genuine transformation efforts. This policy influences business operations, procurement, and investments, ultimately promoting a more equitable and diverse economic landscape in South Africa.