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Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Industry Charters

Financial Sector Charter on Black Economic Empowerment

Scorecard

Scorecard Charts

Section 3 - Access to Financial Services

 

Core component of BEE

Indicators

Target 2008

Target 2014

Financial Institution annual target

Threshold

Points

Institution's annual score

Section 3 - (Paragraph 8 of the charter)

Access to Financial Services

18

 

3.1 Transactions savings products and services

Effective access for LSM1-5(%)

80%

 

 

70%

4

 

3.2 Bank savings products and services

Effective access for LSM 1-5 (%)

80%

 

 

70%

4

 

3.3 Life assurance products and services

Effective access for LSM 1-5 (%)

tbf

 

 

 

12

 

3.4 Collective investments products and services

Effective access for

LSM 1-5 (%)

1%, plus 250,000

 

 

0

Tbd

 

3.5 Short term risk insurance products

Effective access for LSM 1-5 (%)

6%

 

 

0

4

 

3.6 Origination

Origination of home loans (R)

tbf

 

 

10% of target

4

 

Origination of agriculture loans (R)

tbf

 

 

10% of target

2

 

Origination of black SME loans (R)

tbf

 

 

10% of target

2

 

3.7 Consumer education

% of post tax operating profits spend p.a.

Min 0.2%

 

 

0%

2