Draft charter details BEE goals
ALAN PEAT
BLACKS SHOULD comprise almost half of board membership within the next five years, according to the latest Maritime Transport Industry (MTI) black economic empowerment (BEE) draft charter.
In private industry, said the charter, it is expected that black ownership will be accompanied with an equal level of management control under normal circumstances.
“However,” according to the draft, “private industry will recruit onto their executive boards and similar governing structures black directors (who do not necessarily own equity) to reach a target of at least 40% within five years.
“40% of this target - which is equal to 16% of the total - should be earmarked for black women and 5% for all people living with disabilities.”
At the same time, the draft charter calls for government to commit to a target of at least 60% within five years for its executive boards and governing structures.
Again, 40% of this target - equal to 24% of the total - should be earmarked for black women, and 5% for the disabled.
At lower management levels the MTI aims at increasing the representation of blacks - in all management, technical and professional occupational categories combined - to at least 40% within the next five years.
“This 40% MTI target,” said the charter, “will be used as a benchmark against which to measure progress and score companies according to the MTI BEE scorecard.”
Again it calls for a similar commitment from government - ensuring that all parastatals and public sector agencies increase the representation of blacks in all management categories combined to at least 60% within the next five years.
