Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Industry ChartersFinancial Sector Charter on Black Economic Empowerment13. Corporate social investment |
| 13.1 | Each financial institution will have a target of directing 0.5% per annum of post tax operating profits to corporate social investment (CSI) between the effective date of the charter and 2014. |
| 13.2. | CSI means projects aimed primarily at black groups, communities and individuals that have a strong developmental approach and contribute towards transformation. |
| 13.3 | CSI projects may include, but will not be limited to — |
| • | Education: support for community education facilities; programmes at secondary and tertiary education level aimed at promoting the industry: bursaries and scholarships, which are oriented towards the hard sciences; |
| • | Training: community training; skills development for unemployed; adult basic education and training in communities; financial literacy programmes in communities; |
| • | Development Programmes for youth and other target groups; |
| • | Environment: support of conservation projects; community clean up projects; food garden initiatives; |
| • | Job Creation: job creation projects external to the workplace or any commitments contained in empowerment financing; |
| • | Arts & Culture: support of development programmes; development of new talent; |
| • | Health: support of community clinics; health programmes in the community; and |
| • | Sport: support of developmental programmes. |