From Business Report
Kwazulu-Natal last week became the first province to appoint a broad-based black economic empowerment (BEE) advisory council. The council will, on a continuous basis, advise the premier on achievements of broad-based BEE targets for the province, establishment and implementation of sector and enterprise charters, implementation of broad-based BEE codes of good practice and new strategies, programmes and instruments to implement to achieve empowerment objectives.
A key mandate of the 19-member council will be to ensure that 50 percent of provincial business is outsourced to BEE firms over the next five years. The council will also follow up on the agreement that the KwaZulu-Natal government made with the private sector eight years ago.
The province's Department of Economic Development and Tourism has studied the progress of BEE in KwaZulu-Natal, where it assessed the top 100 companies. The study concluded that not much BEE activity had taken place in the province and the agreed targets were not being achieved.
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