Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Industry ChartersFinancial Services CharterCode Series FS700: Measurement of the Socio-Economic Development Element of Broad-Based Black Economic Empowerment2. The Socio-Economic Development Scorecard |
Socio-Economic Development - Measurement Criteria |
Weighting |
Target |
Cumulative value of all Socio-Economic Development Contributions made by a financial institution as a percentage of the cumulative net profit after tax* |
3 |
2012 = 0.75% of NPAT; 2013 = 0.7% of NPAT; 2014 = 0.6% of NPAT |
Note: the target for entities that are exempt from Access to Financial Services - Consumer Education- will have a target of 0.7% of NPAT. This target will be unchanged for the duration of the Codes.