04/06/2026
FORWARDING AND CLEARING SUB-SECTOR CODE FOR B-BBEE – Indicators of Empowerment
This is the second article describing the FORWARDING AND CLEARING SUB-SECTOR CODE FOR B-BBEE.
This B-BBEE Sub-Sector Code for the F&C Industry seeks to encourage all stakeholders to pursue a transformation agenda according to the broad guidelines set out in the BEE National Strategy and B-BBEE Act 53 of 2003. It is necessary to set different targets and timeframes for the public and private industry as well, because the two are at different stages of the transformation process. This code will remain in effect until amended, substituted and repealed under Section 9 of the B-BBEE Act or with the parties to this sub-sector code process agreeing to do so.
OWNERSHIP
Vision
The vision is to achieve significant black ownership, management control and operational involvement throughout the F&C industry. Stakeholders recognise the high degree of knowledge in both local and international legislation as well as conditions that will be required in order to achieve this and commit ourselves to identifying opportunities for promoting the necessary skills development.
Guiding Principles
This principle is linked to the long-term strategy of growing the domestic F&C Industry so as to ensure that B-BBEE does not become a zero-sum game. Ownership is broken down into foreign ownership and South African ownership. The ownership target set is specifically aimed at the South African F&C Industry. With regard to foreign ownership, foreign companies, with local representation, will implement B-BBEE strategies, according to the guidelines provided by the F&C Sub-Sector Code. They will be encouraged to sell equity in their local operations. However, foreign companies that are unable to sell equity in their local operations should consider using the Equity Equivalent guidelines provided in the Code 100 of the B-BBEE Codes of Good Practice and set off increased achievements in this regard against the ownership requirement.
