President Jacob Zuma will officially open the first ever Broad-Based Black Economic Empowerment (B-BBEE) Summit this week.
The Department of Trade and Industry (dti) Minister, Rob Davies, said that since the promulgation of the B-BBEE act in 2003, much has been achieved.
“Much progress has been recorded since the initiation stages of the transformation and there is a lot to reflect on this past decade of transformation. Such enactment was followed by gazetting of the Codes of Good Practice in 2007, which provided an implementation framework for transformation,” said Davies.
The summit, with the theme 'A Decade of Economic Empowerment (2003 to 2013)' will be held on Thursday and Friday at Gallagher Estate in Midrand.
The theme of the summit will signify the celebration of 10 years of empowerment since the B-BBEE Act was promulgated in 2003.
It will be hosted by the dti in collaboration with the Presidential B-BBEE Advisory Council.
Through this Summit, the dti intends to re-orientate the framework and to reposition B-BBEE as a catalyst for economic growth and development, to demystify the myth of B-BBEE being viewed as non-productive and not growing the economy.
The Summit will also showcase the success stories and governments efforts to ensure true and meaningful transformation and distribution of wealth and resources to the majority of South Africans. It will also create a platform for exhibitions, discussions and networking between micro enterprises and big businesses, government, state-owned enterprises, private businesses, labour and multinationals.