Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Black Economic EmpowermentIntegrated Transport Sector CodesForwarding and Clearing Sub-Sector Code for B-BBEE3. Indicators of Empowerment (to achieve this vision)3.1 Ownership3.1.3 Stakeholders Undertakings |
| 3.1.3.1 | Foreign Ownership Market Commits to: |
| 3.1.3.1.1 | Seek opportunities to sell equity to Black shareholders or participate in Equity Equivalent programmes approved by the Minister. |
| 3.1.3.2 | The Local Based Market Commits to: |
| 3.1.3.2.1 | Seek opportunities to broaden the ownership base of their companies and ensure that within the next 5 years at least black shareholders hold 25+1% of voting rights, with 10% of the voting rights held by black women. |
| 3.1.3.2.2 | 25% of the economic interest accrues to black shareholders in the form of both voting rights and economic interest, with a minimum of 10% earmarked for black women. |
| 3.1.3.2.3 | 3% is for black designated groups, which includes black people living with disabilities. |
| 3.1.3.2.4 | Ensure that the net economic interest of the black equity participants is 100% of their acquired share of the business within 5 years. |
| 3.1.3.2.5 | Qualifying Small Enterprises (QSEs) as defined in this Sub-Sector Code also commit to: |
| 3.1.3.2.5.1 | Increase the ownership base of their companies and ensure that a minimum of 25% of economic interest is in the hands of black people; |
| 3.1.3.2.5.2 | 25% + 1 vote voting rights, or equivalent thereof, are in black hands; and |
| 3.1.3.2.5.3 | Ensure that the net economic interest of the black equity participants is 60% of their acquired share of the business within 5 years. If this is achieved, it will be deemed that Ownership Fulfilment has been achieved. |