The new Presidential Broad-Based Black Economic Empowerment (B-BBEE) Advisory Council – which met for the first time last week – will, amongst others, be reviewing progress around B-BBEE and advising on the Draft Codes of Good Practice that will soon be open for public comment;
President Cyril Ramaphosa has described the inaugural meeting of the Advisory Council as a “game-changing event of high importance”.
Among other things, the council will also be reviewing sector charters and providing advice on draft transformation charters, such as the Draft Legal Services Charter, that will soon be published for public comment.
“With regards to B-BBEE and employment equity, there has been substantial progress with regard to the representation of blacks and women in the workplace, including in senior management, in both the public and private sectors,” said Ramaphosa.
He said the government’s efforts to transform the economy had resulted in more black South Africans and women owning and managing businesses and having stakes in large companies.
He added that the worker shareholder regime was improving and small businesses also benefited from preferential state procurement, receiving a range of support to grow and expand.
“At the same time, we know we are not as far as we hoped to be, and that is why the work of this Council will be critical.
“When we speak about the next frontier we are talking about a new vision for B-BBEE that builds on successes, that learns from shortcomings, and that is both agile and adaptive in response to the realities of the national and global economies,” said Ramaphosa.
“It is our expectation that this council will assist us as government to enhance the implementation of B-BBEE and associated policy such as the Codes of Good Practice, the Sector Charters, and recent instruments like the Black Industrialists Programme and Worker Ownership requirements.
“Next year the country marks 20 years since the promulgation of B-BBEE legislation.
“As we journey towards this occasion, we want to see the council at the forefront of advocacy campaigns, especially to counter negative narratives that are gaining traction around B-BBEE,” said Ramaphosa.
