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

Industry Charters

Financial Services  Charter

Code Series FS700: Measurement of the Socio-Economic Development Element of Broad-Based Black Economic Empowerment

2. The Socio-Economic Development Scorecard
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Socio-Economic Development - Measurement Criteria

Weighting

Target

Cumulative value of all Socio-Economic Development Contributions made by a financial institution as a percentage of the cumulative net profit after tax*

3

2012 = 0.75% of NPAT;

2013 = 0.7% of NPAT;

2014 = 0.6% of NPAT

 

Note: the target for entities that are exempt from Access to Financial Services - Consumer Education- will have a target of 0.7% of NPAT. This target will be unchanged for the duration of the Codes.