Businesses that are BEE compliant have a competitive edge when tendering for new work and quoting clients. Preferential procurement is rapidly becoming standard practice. When all factors are equal (such as price, quality, product offering), B-BBEE compliance is the one factor that could determine which business is awarded the work.
The South African Government introduced the B-BBEE Codes of Good Practice in 2007, making it a legal reality. The main objectives of B-BBEE are to redress inequality, boost economic growth and create a better life for all. B-BBEE aims to accelerate the participation of black people in the economy, by encouraging change in the following key areas of business: Ownership, Management Control, Employment Equity, Skills Development, Preferential Procurement, Enterprise and Supplier Development and Socio-Economic Development
The Chamber supports the transformation of the economy to bring about more equitable opportunities for black people. The Chamber is also concerned that South Africa is known as one of the most unequal countries in the world, reporting a per-capita expenditure Gini coefficient of 0,65 in 2015.
The Chamber is BEE compliant with a Level 5 BEE certificate. Our objective is to improve this status. The Chamber encourages its members to become BEE compliant and implement transformation within their companies.
