| Summary: | BBBBBEE170 is an essential ingredient in facilitating the meaningful participation
of blacks at all levels of the South African economy, in order to ensure
sustainable socio-political and economic stability and the sustainability of the
economic growth and development.
BBBEE key principles
⢠It is an ongoing process and not an event
⢠It is a business imperative and an integral component of the companyâs
business strategy and is based on the core values of the organization
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⢠It must result in meaningful and significant participation of blacks in the
company and in the broader economy, through substantial changes in the
racial composition of ownership, control, management structures and of
skilled and specialist positions
⢠It must lead to advantaged strategic position for the company, greater
profitability, business growth and sustainable increase in stakeholder
value
⢠it is the responsibility of all management in the organisation
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