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

Codes of Good Practice on Black Economic Empowerment

Purchase

There are critical success factors that ensure sustainability of the Owner-Driver Scheme:

Business Training.

Management Training (and business skills transfer).

Change of Mindset - empower individual and invest in asset ownership (and the promotion of idependency).

Benchmark - the provisions of the relevant labour and taxation legislation must be taken into account and inform such benchmarking.

Preferential Contract, sustainable tariff and genuine independent contractor status according to the tax laws.

Transparency

•	The identification of a person who will coordinate Owner-Driver Schemes and liaise between Owner-Drivers and the Principle Company or management company.

•	The availability of a dedicated contract and guaranteed volumes.

•	Accreditation of management companies.

•	Full ownership of the vehicle at the end of the period.

•	The identification of responsibilities of Owner-Drivers regarding administrative functions.

Key Objectives

•	Empowerment of the individual and his/hers heirs.

•	Variability in cost for the company.