Broad-Based Black Economic Empowerment
Promo Connection’s Broad-Based Black Economic Empowerment (B-BBEE) policy is to strive for level 4 rating and above. From 2006 until 2010, we traded as an SME, and had a shareholding of 49% in a Black Empowered company called Promo World. As of 2011 Promo Connection is in discussion with BEE Empowered a verification company that are leaders in South Africa in make sure companies are complying with Economic Empowerment initiated by the South African government. As of March 2011 Promo Connection will be a QME level 4 contributor, based on these 4 contibuting factors out of the possible 7.
- Management
- Preferential Procurement
- Enterprise Development
- Socio-economic Development
Click here to download our BEE certificate
The goal of Broad-Based Empowerment and Promo Connection 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.
It has been said that, “B-BBEE legislation is the most significant piece of legislation affecting South African business today.”
The Broad-based Black Economic Empowerment Act, Act 53 of 2003 (“B-BBEE”), affects all business and individuals in South Africa. It is not just vital for the country’s integrated prosperity but a catalyst for economic growth.
