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

Core component of BEE

Indicators

Target 2008

Target 2014

Financial Institution annual target

Threshold

Points

Institution's annual score

Section 2 - (Paragraphs 6 & 7 of the charter)

Procurement and enterprise development

50%

70%

15

Procurement

10%

Procurement from black influenced companies, & companies rated "D" in terms of a charter

Targeted procurement from those companies as a percentage of total procurement

- Scored at 50% of Rand spend

Procurement from companies rated "C" in terms of a charter

Targeted procurement from those companies as a percentage of total procurement - Scored at 75% of Rand spend

Procurement from black empowered companies, & companies rated "B" in terms of a charter

Targeted procurement from those companies as a percentage of total procurement - Scored at 100% of Rand spend

Procurement from black SMEs, black companies, black women-empowered enterprises & companies rated "A" in terms of a charter

Targeted procurement from those companies as a percentage of total procurement - Scored at 125% of Rand spend

Enterprise Development : paragraphs 7.1.1 & 7.1.2 of charter

Enterprise development: black influenced companies

Rand spend - Scored at 50% of Rand spend

Enterprise development: black empowered companies

Rand spend - Scored at 100% of Rand spend

Enterprise development: black SMEs, black companies & black women-empowered enterprises

Rand spend - Scored at 125% of Rand spend