Our involvement with Black Economic Empowerment (BEE)
At Reed Exhibitions, we have set high BEE targets to fuel us to become a champion of empowerment and an example of a fully representative South African business. By achieving our objectives, we will be identified as a successful business and an agent of positive social and economic change. Currently, Reed Exhibitions holds a level 3 rating.
What is BEE?
Black Economic Empowerment is an important policy instrument aimed at broadening the economic base of the country, to stimulate economic growth and employment generation. It is an initiative launched by the South African Government to minimise the existing restrictions so that Black individuals get a fair chance to participate in the economy.
This is a broad based strategy legislated by the Broad Based Black Economic Empowerment Act of 2003 which seeks to “situate black economic empowerment within the context of a broader national empowerment strategy … focused on historically disadvantaged people, and particularly black people, women, youth, the disabled, and rural communities“.
The goal of BEE is to de-racialise South Africa’s economy and speed up the entry of Historically Disadvantaged Individuals (HDIs) into the business world. In order for BEE to work, all sectors of the economy must cooperate and work together. This will enable more black people to own and manage business. An enterprise is considered black-owned if 51% of the ownership is with black people and gives them substantial management control over the business.
BEE is related to good governance and contributes to the overall growth strategy for all economic sectors besides creating an equitable market activity.
At Reed Exhibitions, we are a business with a strong social conscience and celebrate the advantage of having a strong BEE partner. We consider proven logistical and operational experience and existing relationships with BEE subcontractors as one of our key success drivers.
To find out more, please contact us.
Reed Exhibitions is a level 3, 110% value adding company. Download our BBBEE certificate by clicking the image below.