Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Industry ChartersFinancial Sector Charter on Black Economic EmpowermentScorecard1. Ratings |
| 1.1 | Each financial institution will be given a rating each year; after the Charter Council has approved the audited scorecard of the institution. |
| 1.2 | The basis of rating financial institutions and suppliers will be: |
|
|
Tendering to Gov |
Financial Institutions procuring from Pvt. Sector |
|
Score % |
Rating |
Weighting to be given by Govt. |
Where the supplier is subject to a charter |
Where the supplier is measured on the basis of ownership |
< 40% |
E |
0 |
0 |
|
40 - 55% |
D |
25% |
50c in the R |
Black influenced - 50c in the Rand |
55 - 70% |
C |
50% |
75c in the R |
|
70 - 80% |
B |
75% |
100c in the R |
Black empowered 100c in the Rand |
> 80% |
A |
100% |
125c in the R |
Black owned - 125c in the Rand |