Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)
Forest Sector Charter
13. Enterprise Development
13.1 Sector Targets
The development of sustainable black-owned and black women owned enterprises is critical in promoting equity with growth in the sector. The important role of SMME development in underpinning economic growth and ensuring that black economic empowerment is broad based, will be emphasised in this regard.
The industry aligns itself with National Codes of Good Practice on enterprise development. The scorecard also provides three bonus points for additional enterprise development spend to support sector specific initiatives in enterprise development. This is further outlined in paragraph 15.1 of the Charter. Special attention will be given to targeting women and rural communities in enterprise development support
Shortages in log and sawtimber supplies enable forest enterprises to leverage B-BBEE through the sale of these products to BEE enterprises. For this reason, points have been re-allocated to support the sale of logs and sawtimber to BEE compliant and black owned enterprises.