Broad-Based Black Economic Empowerment
Broad-Based Black Economic Empowerment (B-BBEE) is a form of Economic Empowerment initiated by the South African government in response to criticism against Narrow Based Empowerment instituted in the country during 2003/2004. While Narrow Based Black Economic Empowerment led to the enrichment of a few black (Black African, Coloured or Indian) individuals, the goal of Broad-Based Empowerment is to distribute wealth across as broad a spectrum of South African society as possible. In contrast, Narrow Based empowerment measures only equity ownership and management representation.
Read more about Broad-Based Black Economic Empowerment: The Act, Measurement, Verification & B-BBEE Certificates, Industry Specific Measurement, Development of Legislation, Enterprise Size's Effect On B-BBEE, Impact
Famous quotes containing the words black, economic and/or empowerment:
“Belinda lived in a little white house,
With a little black kitten and a little gray mouse,
And a little yellow dog and a little red wagon,
And a realio, trulio, little pet dragon.”
—Ogden Nash (1902–1971)
“Postmodernism is, almost by definition, a transitional cusp of social, cultural, economic and ideological history when modernism’s high-minded principles and preoccupations have ceased to function, but before they have been replaced with a totally new system of values. It represents a moment of suspension before the batteries are recharged for the new millennium, an acknowledgment that preceding the future is a strange and hybrid interregnum that might be called the last gasp of the past.”
—Gilbert Adair, British author, critic. Sunday Times: Books (London, April 21, 1991)
“The empowerment of black women constitutes ... the empowerment of our entire community.”
—Kimberly Crenshaw (b. 1959)