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

Codes of Good Practice on Broad-Based Black Economic Empowerment

Amended Property Sector Code

10. The Amended Property Sector Code Scorecard

 

10.1 The Ownership element, measures effective ownership of entities by Black people.

 

10.2 The Management Control element for the Amended Property Sector Code has been split into Management Control and Employment Equity. Management Control measures the effective control of entities Black people and the Employment Equity measures initiatives intended to achieve equity in the workplace under the Act, and the Employment Equity Act.

 

10.3 The Skills Development element, measures the extent to which employers carry out initiatives designed to develop the competencies of Black employees and Black people internally and externally.

 

10.4 The Enterprise and Supplier Development element, measures the extent to which entities buy goods and services from Empowering Suppliers which are EME or QSE Suppliers with at least 51% Black Ownership. This element also measures the extent to which enterprises carry out supplier development and enterprise development initiatives intended to assist and accelerate the growth and sustainability of black enterprises.

 

10.5 The Socio-Economic Development and sector specific contributions element, measures the extent to which entities carry out initiatives that promote access to the economy for Black people contributing towards Socio-Economic Development or sector specific initiatives.

 

10.6 The Economic Development element is the unique element of the amended Property sector code, measures the extent to which entities contribute towards development in under resourced areas.