The Broad–Based Black Economic Empowerment (B-BBEE) Commission, an entity of the Department of Trade and Industry (the dti), is rolling out an awareness campaign on the B-BBEE Amendment Act of 2013 to the Western Cape. The awareness roadshow will be hosted at the Bellville Civic Centre, Cape Town, on Tuesday, 23 August 2016 starting from 9am.
The information session is intended to raise awareness and educate communities on the Broad-Based Black Economic Empowerment Act and its benefits to society, the role of the Commission, as well as to guide stakeholders on possible fronting practices that should be prevented.
The B-BBEE Amendment Act was enacted to create the B-BBEE Commission to oversee and monitor the implementation of the Act and deal with the contravention and investigate fronting practices, amongst others.
The Director responsible for Compliance at the B-BBEE Commission, Ms Busisiwe Ngwenya explains that the rationale and motivation behind this campaign is to focus on creating an economy that can meet the needs of all economic citizens and their enterprises in a sustainable manner. She adds that this will only be possible if our economy builds on the full potential of all persons and communities across the length and breadth of this country.
“Economic growth, development and B-BBEE are complementary and related processes. Government’s approach is that B-BBEE must be an inclusive process and not an exclusive one. No economy can grow by excluding any part of its people and an economy that is not growing cannot integrate all of its citizens in a meaningful way. As such, the Commission must ensure a B-BBEE process that is associated with growth, development and enterprise development, and not merely the redistribution of existing wealth,” says Ngwenya.
The information and awareness session will also focus on the Codes of Good Practice and provide guidance on the accreditation process by South African National Accreditation System (SANAS).
“Raising awareness of the basics of B-BBEE and how it affects individuals will go a long way to prevent incorrect and bad practices. While the Commission deals with existing problems, it is important to also ensure we minimize more from occurring in the future,” adds Ngwenya.