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What is Black Economic Empowerment mean?
Black Economic Empowerment (BEE) is an integration programme launched by the South African government to reconcile South Africans and redress the inequalities of Apartheid.It encourages businesses to integrate black people in the workspace, upskill and mentor, support black businesses, give back to mainly poor communities across the country which remain poor due to the land dispossession, with the majority of these communities being black South Africans. For this exercise businesses are awarded points which they can claim on their BBBEE certificate. This certificate is used in compliance with government spend regulations. Businesses with a good level BBBEE rating, stand a better chance of being awarded government contracts.
referencePosted on 15 Dec 2024, this text provides information on Miscellaneous in Community related to Community. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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