Broad Based, Black Economic Empowerment (hereinafter “BEE”), whilst not compulsory, has become a business imperative for most organisations, but is also one of the biggest threats if not understood and implemented properly. The reality of BEE in context of the broader economy is that though the Broad-Based Black Economic Empowerment Act 2003 as amended by Act 46 of 2013, is not compulsory, the inclusion or exclusion of your business in trade could be determined by your strategic action towards BEE. BEE could be the single game changer in the future as new legislation increases the impact of non-compliance.
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