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

Industry Charters

Financial Sector Charter on Black Economic Empowerment

11. Control in the financial sector
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11 .1Each financial institution will have a target of 33% black people on the board of directors by 2008;

 

11.2Each financial institution will have a target of a minimum of 11% black women on the board of directors by 2008.

 

11.3Based on an estimated ratio of 15% for 2002, each financial institution will have a target of a minimum of 25% black people at executive level by 2008;

 

11.4Based on an estimated ratio of 2% for 2002, each financial institution will have a target of a minimum of 4% black women at executive level by 2008.