The 101 of Laws, Policies and
Legislature
Deciphering Legal Jargon: How to use the BBBEE to your advantage as an SMME
By: Jehoshaphat Njau
Why the BBBEE
Contrary to popular belief, and what the
public in South Africa have come to know,
the Broad Based Black Economic Empowerment (BBBEE) policy was not a “get rich
quick scheme”. It seems to me that the true
essence of the BBBEE was lost in translation
as a result of corruption and the abuse of
the system, just like many other policies established to benefit the public as a collective without discrimination or favouritism.
BBBEE was introduced after 1994 as a tool to
address the inequalities that were brought
about by the apartheid government. The
apartheid regime had its flaws and by the
time South Africa celebrated its freedom
in 1994, majority of the black communities
were economically disadvantaged and
lived under severe poverty. As a result, the
new government was faced with the task of
seeking ways to e Ʌ