(1)(a) In terms of section 6(1) of the Broad-Based Black Economic Empowerment (B-BBEE) Act, 2003, as amended, the B-BBEE Advisory Council consists of members of the Executive and individuals appointed by the President, drawn from a wide range of persons with experience and expertise relevant to the work of the Council.
The members of the Council are:
(1)(b) The terms of reference of the Council are set out in Section 5 of the Act:
(2) The Advisory Council is a statutory body and one of its functions is to review progress on B-BBEE implementation. Advances made in implementing this constitutional imperative include the increasing number of success stories of black entrepreneurs and industrialists who are adding to South Africa’s GDP and to job creation. As a consequence of governments’ empowerment programmes, more than 400,000 workers are now shareholders in their companies or are covered by agreements committing to introducing share ownership. An increasing number of black South Africans are occupying key management positions or serve as board members of leading South African companies and thousands of workers have benefited from skills development.
(3) The Council provides advice that can assist the work of government departments and entities and it does not therefore duplicate the work of any department, as it is not an executing structure. It does however provide Government with the independent perspectives of experts and persons with insights from different constituencies. The annual budget of the Advisory Council for the execution of its mandate and the legislated functions mentioned above is R734,000.