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

Codes of Good Practice on Black Economic Empowerment

Integrated Transport Sector Codes

Road Freight Sub-Sector Code

3. Indicators of Empowerment

3.8 Socio-Economic Development

 

 

3.8.1 All Stakeholders commit to:

 

3.8.1.1 Invest at least 1% of NPAT on social development projects:

 

3.8.1.2 Social development contributions leading to the following will be enhanced by a factor 1.25:

 

3.8.1.2.1 Poverty alleviation;

 

3.8.1.2.2 Community development;

 

3.8.1.2.3 HIV/AIDS; and

 

3.8.1.2.4 the provision of housing and transport.

 

3.8.2 Measurement Principles and Application of the Sub-Sector Code

 

3.8.2.1 Measurement principles associated with the socio-economic development element are contained in Statement 700 of Code 700 of the Generic Code of Good Practice.

 

3.8.2.2 Qualifying contributions for the socio-economic development element are contained in Annexure 700 (A) - Benefit Factor Matrix of the Statement 700 of Code 700 of the Generic Codes of Good Practice.

 

3.8.2.3 The formulae required in the determination of the socio-economic development score are contained in Annexure 700 (A) of Statement 700 of Code 700 of the Generic Code of Good Practice.

 

3.8.2.4 Measurement principles required in evaluating socio-economic development contributions made by QSEs within this sector are contained in Statement 807 of Code 800 of the Generic Codes of Good Practice.