BBBEE Broad Based Black Economic Empowerment

[Derrick]

Broad-Based Black Economic Empowerment (B-BBEE) is a form of Economic Empowerment initiated by the South African government in response to criticism against Narrow Based Empowerment instituted in the country during 2003/2004. While Narrow Based Black Economic Empowerment led to the enrichment of a few black (Black African, Coloured or Indian) individuals, the goal of Broad-Based Empowerment is to distribute wealth across as broad a spectrum of South African society as possible. In contrast, Narrow Based empowerment measures only equity ownership and management representation.

Source: http://en.wikipedia.org/wiki/Broad-Based_Black_Economic_Empowerment