Black Economic Empowerment

Black economic empowerment (BEE) is an integration program launched by the South African Government to reconcile South Africans and redress the inequalities of the past. It is an integrated and coherent socio-economic process that is located within the context of the country’s national transformation program. It is aimed to redress the imbalances of the past by seeking to substantially and equitably transfer and confer the ownership, management and control of South Africa’s financial and economic resources to the majority of its citizens. It seeks to ensure broader and meaningful participation in the economy by previously disadvantaged people in commerce to achieve sustainable development and prosperity.  It is essentially a growth strategy targeting the South African economy’s weakest point: inequality.