Mindpearl Cape Town Support Broad-Based Black Economic Empowerment
Broad-Based Black Economic Empowerment or B-BBEE is a form of Economic Empowerment, put into place by the South African government to eradicate Narrow Based Empowerment. (Narrow Based Empowerment or Black Economic Empowerment targeted only a very small group of previously disadvantaged individuals) This was instituted in South Africa in 2003 – 2004. The aim of B-BBEE is to administer wealth across a much broader spectrum of the previously disadvantaged South African society.
Entities that obtain a B-BBEE verification certificate commit to increase the pace of economic transformation, motivating closer alignment to the demographics of the Economically Active Population statistics. Recognising an organisation’s commitment to the Black Economic Empowerment legislation is not only measured by their ownership and management control credentials – as there are multiple elements that are taken into account. Mindpearl Cape Town has been evaluated in terms of section 9(1) of the B-BBEE Act 53 of 2003 and obtained a Level Four Contributor status with 100% recognition. The score obtained comprises of the following elements:
• Management Control
• Employment Equity
• Skills Development
• Enterprise Development
• Socio Economic Development
• Black Women Ownership
• Black Ownership
• Value Adding Supplier
Mindpearl has partnered with the Siyaya Skills Institute, a locally professionally-accredited Training Provider to provide learning opportunities to the previously disadvantaged and disabled in and around Cape Town, South Africa. The aim of the partnership is to directly respond to the increasing unemployment rate in South Africa. Mindpearl sponsors learners who are identified to complete a General Education and Training Certificate and enrolled in the Adult Basic Education and Training program. These learners receive Disability Management support as well as the resources and skills which would create better opportunities.
Mindpearl is proud to play a role in all of these individuals’ lives and be in a position to provide them with the necessary resources to enable their success. This type of partnership creates a great impact in the community and motivates more organisations to proactively get involved in the enrichment of our South African society. The ongoing partnership with the Siyaya Skills Institute has played a great role in obtaining our B-BBEE Verification Certificate and we are confident that our future projects with the institution will empower many more individuals; igniting hope and ambition in our South African society.← Back to News, Trends, & Insights