Acts Online
GT Shield

Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Industry Charters

Financial Sector Charter on Black Economic Empowerment

13. Corporate social investment

 

13.1 Each financial institution will have a target of directing 0.5% per annum of post tax operating profits to corporate social investment (CSI) between the effective date of the charter and 2014.

 

13.2. CSI means projects aimed primarily at black groups, communities and individuals that have a strong developmental approach and contribute towards transformation.

 

13.3 CSI projects may include, but will not be limited to —
• Education: support for community education facilities; programmes at secondary and tertiary education level aimed at promoting the industry: bursaries and scholarships, which are oriented towards the hard sciences;
• Training: community training; skills development for unemployed; adult basic education and training in communities; financial literacy programmes in communities;
• Development Programmes for youth and other target groups;
• Environment: support of conservation projects; community clean up projects; food garden initiatives;
• Job Creation: job creation projects external to the workplace or any commitments contained in empowerment financing;
• Arts & Culture: support of development programmes; development of new talent;
• Health: support of community clinics; health programmes in the community; and
• Sport: support of developmental programmes.