Codes of Good Practice

The Department of Trade and Industry has released the final Codes of Good Practice for black economic empowerment (BEE), which will end uncertainty while boosting South Africa’s economic growth.

The release of the codes follows the Broad-Based Black Economic Empowerment Act of 2003 and the BEE Strategy Document drawn up by the Department of Trade and Industry (DTI). That document gave an outline of the broad-based BEE scorecard, together with weightings, but didn’t detail measurement principles and how the scorecard was to be applied.

The Codes of Good Practice contain frameworks for the determining BEE, including the generic scorecard, guidelines and BEE agencies, as well how the different parts of the scorecard are to be measured in companies.

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