Broad-Based Black Economic Empowerment (BBBEE)

Broad-Based Black Economic Empowerment (BBBEE) is a South African policy aimed at addressing the economic inequalities created by apartheid. It encourages businesses to integrate black individuals—especially African, Coloured, and Indian people—into the economy through ownership, management, skills development, and procurement opportunities. BBBEE aims to create a more equitable society by promoting economic participation among historically disadvantaged groups. Companies are evaluated and rated based on their BBBEE compliance, which can influence their ability to win government contracts and access certain markets, thereby incentivizing them to contribute to economic transformation.