Introduction
The South African legislature in 2003 enacted the Broad-Based Black Economic Empowerment Act (BBBEE). The word Black Economic Empowerment (BEE) is often used to refer to the legislation or policies related to the BBBEE. The Act is meant to promote the right to equality as stipulated in the Constitution by increasing the participation of black persons in the economy. The right to equal participation in the economy is essential in South Africa because of the colonial and apartheid-era that disfranchised black persons from benefiting and participating in the economy (Duffett et al. 2009; Ponte et al. 2007). The World Bank report noted that South Africa is one of the most unequal countries in the world (World Bank 2018).
In 1994, the democratic government enacted legislation that was meant to facilitate radical economic transformation (Ponte et al. 2007). For these reasons, the democratic government enacted Restitution of Land Rights Act, National Empowerment Fund Act,...
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Abbreviations
- BBBEE:
-
Broad-Based Black Economic Empowerment
- BEE:
-
Black Economic Empowerment
References
Black Economic Empowerment Commission. (2001). Black economic commission report. http://www.kznhealth.gov.za/TED/commission.pdf. Accessed 30 May 2019.
Broad-Based Economic Empowerment Act. (2003). https://www.bbbeecommission.co.za/wp-content/uploads/2016/09/Consolidated-B-BBEE-Act-2013.pdf. Accessed 30 May 2019.
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Ponte, S., Roberts, S., & Van Sittert, L. (2007). Black economic empowerment’, business and the state in South Africa. Development and Change, 38(5), 933–955.
World Bank. (2018). Overcoming poverty and inequality in South Africa: An assesment of drivers, constraints and opportunities. http://documents.worldbank.org/curated/en/530481521735906534/pdf/124521-REV-OUO-South-Africa-Poverty-and-Inequality-Assessment-Report-2018-FINAL-WEB.pdf. Accessed 30 May 2019.
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Mzezewa, S. (2020). Black Economic Empowerment. In: Idowu, S., Schmidpeter, R., Capaldi, N., Zu, L., Del Baldo, M., Abreu, R. (eds) Encyclopedia of Sustainable Management. Springer, Cham. https://doi.org/10.1007/978-3-030-02006-4_925-1
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