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

Industry Charters

Financial Services  Charter

Code Series FS200: The Measurement of the Management and Control Element of Broad-Based Black Economic Empowerment

2. The Management Control scorecard
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Management Control- Measurement Criteria

Weighting

Target
2.1Board Participation
2.1.1Voting rights of Black board members as a percentage of voting rights of all board members

0.5

50%
2.1.2Voting rights of Black women board members as a percentage of voting rights of all board members

0.5

25%
2.1.3Black executive members of the Board as a percentage of all executive members of the board

1.0

50%
2.1.4Black women executive members of the Board as a percentage of all executive members of the board

1.0

25%
2.2Top management

 

 
2.2.1Black Senior Top Management as a percentage of all Senior Top Management

1.5

40%
2.2.2Black women Senior Top Management as a percentage of all Senior Top Management

1.5

20%
2.2.3Black Other Top Management as a percentage of all Other Top Management

1.0

40%
2.2.4Black women Other Top Management as a percentage of all Other Top Management

1.0

20%

Total

8

 
2.3Bonus Points

 

 
2.3.1Black Independent Non-Executive Board Members as a percentage of all Independent Non-Executive Board  Members*

1.0

40%

 

*As defined in terms of the Latest King Report.