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Black Economic Empowerment

South-African government policy

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Black Economic Empowerment: South-African government policy
Black Economic Empowerment (BEE) is a policy of the South African government which aims to facilitate broader participation in the economy by black people. A form of affirmative action, it is intended especially to redress the inequalities created by apartheid. The policy provides incentives – especially preferential treatment in government procurement processes – to businesses which contribute to black economic empowerment according to several measurable criteria, including through partial or majority black ownership, hiring black employees, and contracting with black-owned suppliers. The preferential procurement aspect of BEE has been viewed as paradigmatic of a sustainable procurement approach, whereby government procurement is used to advance social policy objectives. So-called "BEE deals" – transactions aiming to increase black ownership of large businesses – have been conducted on a large scale, with BEE transactions concluded between 1994 and 2005 valued at between R150 billion and R285 billion.

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Trump to Grill South Africa's Ramaphosa Like He Did Zelenskyy? | U.S. Warns 'Stop White Persecution' [Video]

Trump to Grill South Africa's Ramaphosa Like He Did Zelenskyy? | U.S. Warns 'Stop White Persecution'

President Trump plans to confront South Africa over its treatment of the white minority, particularly Afrikaners, in upcoming diplomatic talks. He may demand exemptions for U.S. firms from Black..

Credit: Oneindia     Duration: 03:17Published

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