Question

What is the different between BBE and BBBEE

Answer 1

These are economic policies introduced in South Africa. Other countries have policies that are named in different ways like Zimbabwe they call their policies indeginasation which is meant to bring balance in the economy where there is equal participation by its citizens. In South Africa BEE was introduced specifically for Black Empowerment in redressing the economic ills of the past where most blacks were not participating in the economy of South Africa Equitably with other races hence Black Economic Empowerment Policy came to place. But as South Africa moved towards proper integrated society Broad-Based Black Economic Empowerment (B-BBEE) was introduced which accommodates companies owned by other races but has shareholding of blacks or employees share schemes, And where these companies buy goods and services from BEE companies and are involved on skills development and enterprise development through adopting the BEE companies and develop them.