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

Skills development is critical in underpinning the management control and employment equity targets. Therefore, industry aligns itself with the national Codes of Good Practice on skills development by committing to spend 3% of its payroll on learning programmes for black employees. This is over and above the 1% spent on the skills levy. At least half of this will be spent on skills development for black women and a portion will also be set aside to skill disabled employees. The industry commits to ensuring that 5% of employees are black participants in in-service training programmes.

Industry is committed to ensuring that the aforementioned skills development targets are achieved within 3 years of the signing of the Charter, so as to ensure that an early foundation is laid for reaching the management control and employment equity targets.