BEE council encourages best practice
The B-BBEE Advisory Council is a body appointed by the President in terms of the B-BBEE legislation to advise him and government on B-BBEE and transformation of the South African economy.
THE Broad Based Black Economic Empowerment (BBBEE) Advisory Council has called for the declaration of a Transformation Week in the country to showcase best B-BBEE practice.
“There was a consensus at the meeting that there is a need to declare a Transformation Week in the country to showcase best B-BBEE practice, create awareness, and educate, with a platform to share progress and introspect regarding economic transformation,” said the Council who met last week.
The B-BBEE Advisory Council is a body appointed by the President in terms of the B-BBEE legislation to advise him and government on B-BBEE and transformation of the South African economy in order to achieve an inclusive economy.
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The collective also acknowledged that the country’s procurement laws need to be strengthened to embed B-BBEE compliance in their content.
Last Friday’s meeting recognised progress has been made in the implantation of B-BBEE policy over the last five years.
The Black Industrialist Programme, noted the meeting is among one of the achievements of that can be counted. The programme intends to create majority black-owned entities in the productive sectors. To date, the Department of Trade and Industry (dti) has supported 138 beneficiaries.
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“Understanding the primacy of B-BBEE in the government’s drive to effect fundamental change and economic redistribution, the Council discussed and number of issues that have an effect on the implementation of B-BBEEE,” it said.
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