Black Economic Empowerment (BEE)

The BEE is a program launched by the South African government to redress the inequalities of Apartheid by giving previously disadvantaged groups (black Africans, Coloureds and Indians) economic opportunities previously not available to them. This policy is a pragmatic growth strategy that aims to realize the countrys full economic potential.

The Black Economic Empowerment program was launched by the South African government to redress the inequalities of Apartheid by giving previously disadvantaged groups (black Africans, Coloureds and Indians) economic opportunities previously not available to them. This policy is a pragmatic growth strategy that aims to realize the country’s full economic potential.

BBBEE is legally based on the law Broad Based Black Economic Empowerment Act, which became effective in January 2004. The codes of good practice assist to actually convert this law into practice.

The BBBEE Act does not contain any compulsory regulations for any private enterprise or private investors to put into practice. International investors do not have “give” shares in their local entity away. However, a decent BBBEE rating has become quite important for anybody who is doing business in South Africa.

IBN Consulting explainsn the effects and requirements of the BBBEE regulations for your business and advise you concerning your BBBEE rating. Is your business in need of a rating? What kind of different factors has the scorecard and what do they imply? What level of rating would your business achieve and how can we assist in increasing the BBBEE rating level?

The BEE rating is carried out through certified Rating Agencies. But on legal grounds these agencies are not allowed to carry out any advisory activity. Therefore we offer you our service.

Please read our BEE Information Brochure (IBN Library) for further information.