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

Codes of Good Practice on Black Economic Empowerment

Integrated Transport Sector Codes

B-BBEE Sub-Sector Code for Public Sector - Transport

3. State Owned Enterprises

3.2 Indicators of Empowerment

3.2.7 Socio-Economic Development

Purchase

3.2.7.1

The only criterion applicable here is the average annual value of all socio‑economic development contributions made by the measured entity as a percentage NPAT/discretionary spend (whichever amount is applicable); with the target set at 1% if NPAT is used, or 3% if discretionary spend is used.

3.2.7.2

Contributions focused on HIV/AIDS, Poverty Alleviations and Social Development will receive enhanced recognition by being multiplied by a factor of 1.25.

3.2.7.3

Measurement Principles and Application of the Sub-Sector Code

3.2.7.3.1

Measurement principles associated with the socio-economic development element are contained in Statement 700 of Code 700 of the B-BBEE Generic Codes of Good Practice.

3.2.7.3.2

Qualifying contributions for the socio-economic development element are contained in Annexure 700 (A) - Benefit Factor Matrix of the Statement 700 of Code 700 of the B‑BBEE Generic Codes of Good Practice.

3.2.7.3.3

The formulae required in the determination of the socio-economic development are contained in Annexure 700 (A) of Statement 700 of Code 700 of the B‑BBEE Generic Codes of Good Practice.