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

Industry Charters

Financial Services Charter

Code Series FS600: The Measurement of the Enterprise Development and/or Empowerment Financing Element of Broad-Based Black Economic Empowerment

Statement 601: The Measurement of the Enterprise Development Element for Measured Entities that are exempted from contributing towards Empowerment Financing

Annexe 600(C) : Qualifying Beneficiaries

Purchase

There are two Enterprise Development Beneficiary categories, which a beneficiary entity can qualify under in order to receive Enterprise Development contributions;

Category A

A is a more than 50% black owned business with an annual turnover of R35 million or below.

Category B

Either,

A is a more than 50% black owned business with an annual turnover of more than R35 million, or

A is a more than 25% black owned business with a Level 6 B-BBEE Certificate or better.