Black Economic Empowerment (BEE) or Broad-Based Black Economic Empowerment
(BBBEE) is an important means by which the South African government aims to address the
social injustices of the past as well as eliminating inequalities between white capital and the
black majority (Fauconnier and Mathur-Helm, 2008). The Department of Trade and Industry
(DTI) has been tasked with overall responsibility for instituting and monitoring the laws that
govern BEE. Since the introduction of the Broad-Based Black Economic Empowerment Act
no. 53 of 2003 (Ferreira and Villiers, 2011) and the codes of good practice of 2007, a number
of amendments were made in response to deficiencies identified, the most material being the
Amended Codes of Good Practice of 2013, which were effective from 1 May 2015.