Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Black Economic EmpowermentIntegrated Transport Sector CodesDomestic Aviation Sub-Sector Code for B-BBEE3.8 Socio-economic Development3.8.1 All Stakeholders commit to: |
| 3.8.1.1 | Locally owned businesses to invest at least 1% of NPAT on socio-economic development projects, which can include HIV/AIDS treatment and prevention, education and community development. QSEs within this sub-sector contributing a minimum of 1% of NPAT evaluated annually to socio-economic development initiatives over the next 5 years will achieve maximum points. |
| 3.8.1.2 | The rand value of socio-economic development contributions in following areas will be enhanced by a factor 1.25: |
| 3.8.1.2.1 | HIV/AIDS Programmes; |
| 3.8.1.2.2 | Education; and |
| 3.8.1.2.3 | Community Development and poverty alleviation |
| 3.8.1.3 | Foreign owned airlines should invest at least 0.5% of payroll or the equivalent % of management time to socio-economic development projects, which can include HIV/AIDS treatment and prevention, education, community development, Aviation/Tourism General Awareness Campaign. The enhancement factor referred to in 3.8.1.2 above for the application of programmes listed will also apply. |