The B-BBEE Commission's Vision
An inclusive industrialised economy that is globally competitive.
Inclusive - refers to equal participation, equitable opportunities for of all, and benefits experienced by every section of the society across South Africa. This generally implies a link of macroeconomic and microeconomic factors of the economy for inclusivity to materialise. As the B-BBEE Commission, we are vested with a regulatory responsibility to ensure that the South Africa's economy is broad-based and inclusive in order to attain the vision 2030 in the NDP. For the economy to thrive, function and grow all South Africans must be involved and contribute meaningfully in the value chain and critical sectors of the economy. Therefore, inclusivity must be facilitated through skills development, ownership, management control, enterprise and supplier development, as well as removing economic barriers for black people, so joint efforts by private and public sector is required as no one individual can do this on their own.
Industrialised - refers to the creation of a sustained productive economy that is driven by a wide range of locally sourced and produced products and services. This is an economy that has a high rate of literacy, stimulates economic and employment growth through targeted programmes, allows trade and investment more in education to produce highly competent and skilled labour force that could contribute to job creation, creates start-ups and broaden the production base. Involves well developed and productive commercial markets such as advanced manufacturing and value added services. In essence more beneficiation and exporting of value added products instead on raw material.
Economy - entails the state of the country in terms of production, distribution and consumption of goods and services in a particular geographic region. The IMF in its press briefing of April 2015 painted a picture of declining economic growth in emerging and developing economies. It is imperative for the country to grow its economy through internal production and distribution of goods locally and internationally, and there is a need for a strong trade investment arm within government that will not only identify markets for locals, but will also ensure sustainability.
Globally Competitive - implies viable and integrated international markets with export capability in order to stimulate economic growth. South Africa does not operate in a confined space but has to compete with other nations for resources, skill and markets, which means that we have to support our local products and services and leverage these against other markets. We need to focus on areas where we have uniquely South African products that can be targeted for export markets as we need to have niche and unique offerings. In this regard, benchmarks, peer reviews and adherence to world standards provide the necessary pointers on the areas that the country must improve or capitalize on to remain globally competitive, without compromising national economic interests.
To read more about Our Mission, click here.