The Role of B-BBEE in Promoting Economic Empowerment through ESD and ESG
Broad-Based Black Economic Empowerment (B-BBEE) is a crucial legislative framework in South Africa, designed to address the economic disparities created by apartheid. It aims to enhance the economic participation of black South Africans across various sectors, and its principles are closely intertwined with Enterprise and Supplier Development (ESD) and Environmental, Social, and Governance (ESG) criteria. […]
Integrating ESG and B-BBEE: A Pathway to Sustainable Transformation in South Africa
In South Africa, the intersection of Environmental, Social, and Governance (ESG) principles with Broad-Based Black Economic Empowerment (B-BBEE) is paving the way for a more inclusive and sustainable business landscape. As companies navigate the complexities of social equity, environmental responsibility, and ethical governance, the integration of ESG and B-BBEE offers a powerful framework to drive […]
Unlocking Opportunities: Incentives for Employing NEET Youth in South Africa
South Africa is grappling with serious challenges related to youth unemployment, with many young individuals classified as NEET – Not in Employment, Education, or Training. To address this pressing issue, the government has rolled out various incentives designed to motivate businesses to hire NEET youth and provide them with essential skills for long-term sustainable employment. […]
Navigating Compliance and Maximising Benefits in South Africa’s Skills Development Framework
In South Africa’s changing economic environment, complying with the Workplace Skills Plan (WSP) and Annual Training Report (ATR) is a multifaceted challenge for businesses. As we saw in our initial discussion of the WSP (Understanding South Africa’s Workplace Skills Plan (WSP) ), this strategic document outlines a company’s strategy for employee skill development, which is […]
The Role of Learnerships in Addressing Youth Unemployment in South Africa
The discourse surrounding learnerships in South Africa brings to light a multifaceted journey encompassing youth unemployment, skills development, and the ever-changing landscape of industries. While the journey is ongoing, learnerships showcase promising strides towards addressing youth unemployment.
Learnerships
Learnerships are widely embraced in South Africa as a popular form of vocational education and training. They are available across all industries and have garnered significant attention. According to the South African Department of Higher Education and Training, more than 4 million learnerships have been registered with the various Sector Education and Training Authorities (SETAs) […]
BBBEE and Skills Development
BBBEE Statement 300 – Skills Development Skills development is a priority element of the BBBEE scorecard, if the sub-minimum of 40% of the target score under this element is not achieve an entity will drop by one level once the verification is concluded. This element in the scorecard uses targets that are based on racial […]