The Broad-Based Black Economic Empowerment Advisory Council (B-BBEEAC) has been set up.
In a statement, the presidency declared that a “diverse and representative group of people with sector expertise” have been appointed.
The Council is also tasked with guiding government on intensified transformation of the economy.
Nominations for the Council were called for at the end of 2019.
The B-BBEEAC flows from Section 4 of the Broad-Based Black Economic Empowerment Act.
Functions include advising government on black economic empowerment; reviewing progress in achieving black economic empowerment; advising on draft codes of good practice; advising on the development, amendment or replacement of the strategy referred to in section 11 of the act and advising on draft transformation charters.
14 Council members have been appointed and will serve a five-year term.
According to the presidency, “provincial representation, sector expertise, gender and age are among the considerations that informed the composition of the Council”.