The Broad-Based Black Economic Empowerment (B-BBEE) Commission has called on government and the private sector to increase the number of women on boards as well as the procurement spend on 30% black women owned businesses.
This comes after a new B-BBEE Commission report found that JSE listed companies had 38% representation of black people on their boards, of which only 12% were South African black women in 2017.
The report showed a decline in black female representation by 1.96% compared to 2016.
“To improve this, we call on government and the private sector to increase procurement from businesses that are at least 30% black women owned, and to provide financial assistance, including through incentive schemes such as the black industrialist incentive programme of the Department of Trade and Industry,” said B-BBEE commissioner, Zodwa Ntuli.
The report, based on data submitted on the B-BBEE certificates, also found, that on average, entities failed to reach 50% of their targets on skills development, management control and enterprise and supplier development across all sectors.
