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Title_of_text

Broad-based Black Economic Empowerment Act, [No. 53 of 2003].

Main Region

First Region

South Africa
Equality of opportunity and treatment
2004-01-09
National
Law, Act

Second Region

The Act establishes a legislative framework for the promotion of black economic empowerment. It empowers the Minister to issue codes of good practice and to publish transformation charters. The Act also establishes the Black Economic Empowerment Advisory Council. The Act was adopted in order to:
- promote the achievement of the constitutional right to equality, increase broad-based and effective participation of black people in the economy and promote a higher growth rate, increased employment and more equitable income distribution; and
- establish a national policy on broad-based black economic empowerment so as to promote the economic unity of the nation, protect the common market, and promote equal opportunity and equal access to government services.

Electronic region