B-BBEE Act and Codes of Good Practice Under Review

Posted 14 November 2025 Written by Acts Online
Category Broad-based Black Economic Empowerment

Brought to you by SA Legal Academy: The Department of Trade, Industry and Competition (DTIC) has commenced a two-phased review of the Broad-Based Black Economic Empowerment Act, No. 53 of 2003 and its accompanying regulatory framework.

In terms of a statement made by the Minister of Trade, Industry and Competition during a National Assembly question-and-answer session on 26 November 2024, the review is structured to address both immediate regulatory refinements and long-term legislative amendments. The first phase, which is currently under way, focuses on the ‘refinement’ of the following instruments:

  • Regulations issued under the Act;
  • Codes of Good Practice;
  • Guidelines; and
  • Practice notes.

The Minister indicated that this first phase is expected to be completed by the end of the current financial year (March 2025). Running parallel to this phase is the finalisation of a proposed new transformation fund. This fund is intended to aggregate various funding instruments to maximise value and impact within the transformation landscape.

Phase Two and Legislative Amendments

The second, long-term phase of the review will focus on the Broad-Based Black Economic Empowerment Act, No. 53 of 2003 itself. The Minister alluded to the likelihood of ‘substantive amendment’ to the primary legislation to ensure it effectively addresses inclusivity and the legacy of economic discrimination.

Click here to view the National Assembly question-and-answer session or download the Internal Question Paper containing the relevant written question (1226) on page 123.

What this means for you, your business, or your clients

  • For yourself: No direct individual obligations; professional impact is limited to the requirement to stay abreast of changing compliance benchmarks for advisory purposes.
  • For your business: Firms must prepare for potential updates to the Codes of Good Practice and practice notes by March 2025, which may necessitate adjustments to internal B-BBEE data collection and reporting systems.
  • For your clients: Clients should be advised of upcoming ‘substantive amendments’ to the Act and the introduction of a new transformation fund, which may alter the requirements for ownership, procurement, and enterprise development strategies.

Originally published at https://legalacademy.co.za/news/read/b-bbee-legislation-under-review-deputy-president

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