Black Economic Empowerment Act of 2003 is an elective legislation which seeks to reward entities who commit to the economic transformation strategies outlined by Government though the allocation of pricing, concessionary, licensing and incentive preference.
This legislation was refined in 2007 with the implementation of the Broad-based Black Economic Empowerment Codes of Good Practice to increase the pace of economic transformation encouraging closer alignment to the demographics of the Economically Active Population statistics and recognizing that an organizations commitment to this legislation could not only be measured by their ownership and management control credentials.