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

Codes of Good Practice on Black Economic Empowerment

Integrated Transport Sector Codes

Maritime Transport & Services Industry Sub-Sector Code for B-BBEE

3. Indicators of Empowerment

3.3 Management Control

3.3.2 The Private Industry commits to:

Purchase

3.3.2.1

Recruit onto their boards and similar governing structures black directors (who do not necessarily own equity) to reach a target of at least 50% within 5 years. 50% of these targets, which is equal to 25% of the total for both number of black women directors with exercisable voting rights.

3.3.2.2

Recruit onto their boards black directors to constitute 50% of executive directors. 25% of the number of black executive directors should be earmarked for black women.

3.3.2.3

Recruit into senior top management structures in enterprises black people such that a target of 40% of the total number of senior top management positions, such as a Chief Executive Officer, Chief Financial Officer or Chief Investment Officer, will be occupied by black people.

3.3.2.4

20% of senior top management positions should be earmarked for black women.

3.3.2.5

Recruit into other top management structures in enterprises black people such that a target of 40% of the total number of other senior top management positions, such as a Marketing Director/Manager, Human Resources Director/Manager, IT Director/Manager.

3.3.2.6

20% of other top management positions (e.g. Divisional managers) should be earmarked for black women.

3.3.2.7

Endeavour to recruit black people living with disability at management levels, where they should constitute 3% of total executive management.

3.3.2.8

If the measured entity does not differentiate between senior top management and other top management; senior top management and the other top management can be collapsed into one indicator-top management. The target remains 40%, and the weighting will be the sum of the senior top management and other top management weighting.

3.3.2.9

QSEs within the sector commits to recruiting black people at Top Management positions, where they should constitute 50.1% of total Top Management.

3.3.2.10

Recruiting black women at Top Management level; where they should constitute 25% of all such positions.