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

Scorecard

1. Ratings

 

1.1 Each financial institution will be given a rating each year; after the Charter Council has approved the audited scorecard of the institution.

 

1.2 The basis of rating financial institutions and suppliers will be:

 

 

 

Tendering to Gov

Financial Institutions procuring from Pvt. Sector

Score %

Rating

Weighting to be given by Govt.

Where the supplier is subject to a charter

Where the supplier is measured on the basis of ownership

< 40%

E

0

0

 

40 - 55%

D

25%

50c in the R

Black influenced - 50c in the Rand

55 - 70%

C

50%

75c in the R

 

70 - 80%

B

75%

100c in the R

Black empowered 100c in the Rand

> 80%

A

100%

125c in the R

Black owned - 125c in the Rand