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

3.8 Socio-Economic Development

3.8.2 All Stakeholders commit to:

Purchase

3.8.2.1

Participate in social development projects as identified by historically disadvantaged employees, which can include HIV/AIDS treatment and prevention, education, community development and maritime awareness.

3.8.2.2

Spending 1% of NPAT for the private sector on the social development projects articulated in the above guiding principle.

3.8.2.3

QSEs within this sector contributing a minimum of 1% of NPAT evaluated annually to socio-economic development initiatives over the next 5 years.

3.8.2.4

Social development contributions leading in the following key focus areas will be enhanced by a factor of 1.25. The key focus areas are:

3.8.2.4.1

HIV Aids Programmes;

3.8.2.4.2

Education;

3.8.2.4.3

Community Development; and

3.8.2.4.4

Maritime Awareness.