Various initiatives have been undertaken to implement Broad-Based Black Economic Empowerment (B-BBEE), including the establishment of B-BBEE Codes of Good Practice; the development of Sector Charters in Forestry, Tourism, Construction and Transport; accreditation of B-BBEE Verification Agencies; and establishment of the B-BBEE Advisory Council.
The focus has also been on developing co-operatives, which operate in the mainly informal and marginalised sector of the economy, as well as empowering women-owned businesses via the provision of financial and business development support services. These programmes involve continuous intergovernmental co-ordination and co-operation with government institutions.
Cultivating Black Industrialism
The Black Industrialist Scheme offers a cost-sharing grant ranging from 30% to 50% to approved entities (up to a maximum of R50 million). Support is offered on a cost-sharing basis towards:
- Capital investment costs;
- Feasibility studies towards a bankable business plan;
- Post-investment support; and
- Business development services.