Broad-Based Black Economic Empowerment

Broad-Based Black Economic Empowerment (B-BBEE) is based on five key elements: ownership, management, skills development, enterprise and supplier development and socio-economic development. It is accordingly vital for businesses and investors to have a full and proper understanding of South Africa's legal framework and policies on B-BBEE.

B-BBEE is a complicated and specialised field of practice and our B-BBEE team has considerable experience and expertise in advising South African and international businesses on the implementation of B-BBEE compliance with the relevant legislation.

Werksmans' expertise includes advising on the B-BBEE Act, the Codes of Good Practice, Transformation Charters as well as Sector Codes and Regulations issued under the B-BBEE Act. We have extensive experience in relation to state and public entity procurement law and regulation, including but not limited to, the Preferential Procurement Policy Framework Act, the Employment Equity Act and the Skills Development Act.

We provide an extensive array of B-BBEE advisory services;

• encompassing the development of B-BBEE alignment strategies
• structuring and implementing B-BBEE ownership plans
• assisting with B-BBEE complaints
• conducting due diligence and investigations
• submitting B-BBEE ratings to rating agencies and regulations

Werksmans has created a Guide on the Amendments to the B-BBEE Act and Codes. The Guide provides a basic understanding of the importance of the B-BBEE legal framework and its importance