MMmmmmm…. The new buzz word…BEE.
Whats it all about???? Basically it is a racially selective programme launched by the South African government to redress the inequalities of Apartheid by giving certain previously disadvantaged groups (Blacks, Coloureds, Indians, and Chinese who arrived before 1994) of South African citizens economic privileges previously not available to them. Although race is the overriding factor, it includes measures such as Employment Preference, skills development, ownership, management, socioeconomic development, and preferential procurement.
What does it mean in business?