Broad-Based Black Economic Empowerment

The Banking Association South Africa is committed to Broad-Based Black Economic Empowerment (B-BBEE), as a critical tool to address socio-economic inequalities. Our goal is to contribute meaningfully to the socio-economic transformation of South Africa, through Black Economic Empowerment and other instruments, thereby ensuring future stability, growth and profitability of the South African economy. However, we continue to assert that sustainable and inclusive economic growth is the most critical requirement to address inequality and we will continue to promote the role of the banking sector in this.

The Banking Association South Africa is a proud level two B-BBEE contributor with procurement recognition of 125% according to the latest published BEE Codes of Good Practice. You can view or download our BEE certificate below.

Through our commitment to the Financial  Sector Code (FS Code), formerly the Financial Sector Charter (FSC), The Banking Association aims to achieve and exceed the targets set by the Black Economic Empowerment Act (53 of 2003).

Our B-BBEE Core Commitments Include:

Human Resources

The Banking Association aims to grow and develop a demographically representative and diverse pool of skilled employees through transformation and employment equity.

Preferential Procurement Partners

The Banking Association promotes a preferential procurement programme that incorporates previously disadvantaged small-to-medium-sized businesses into our supply chain.

Enterprise Development

The Banking Association is committed to enterprise development by facilitating programmes for the development and fostering of black small-to-medium-sized enterprises. We aim to assist and accelerate the development, sustainability and ultimately the financial independence of small-to-medium-sized enterprises. We convene heads of SME Divisions and respective banks identify supply and demand side challenges encountered by SME's and banks, and discuss and develop possible interventions.

Ownership and Control

The Banking Association believes in economic growth based on a comprehensive framework for diverse ownership and control. We believe ownership and control should focus on the broader-based empowerment as dealt with under access to financial services and Empowerment financing. These pillars speak to inclusive growth and increased participation of previously disadvantaged individuals.

Empowerment Financing

Empowerment Financing addresses targeted investments such as SME Development, Agricultural Development, Affordable Housing initiatives and Transformational Infrastructure projects like; building of roads, bridges, schools, etc. In addition, this pillar of the sector code promotes the financing of Black Economic Empowerment deals by SME's. The Banking Association believes this pillar highlights the core of B-BBEE. Our focus is based on initiatives that are meant to improve black business financing and development through systematic analysis, promotion of access to finance and creation of support structures to fund and cultivate BEE projects.

Access to Financial Services

The Financial Sector Charter, through the Mzansi initiative, paved a way for banks to develop relevant and viable products for the low-income market. While there is still room for improvement on physical access and product development, the real challenge for South Africa lies in the usage of the products that have been developed. Banks continue to offer, on a competitive basis, increasing ranges of products for the emerging market. The Mzansi initiative was critical to such development.

Consumer Education

The Banking Association promotes consumer education through various initiatives, most notably, the annual Teach Children to Save South Africa (TCTS SA™) campaign. Launched in 2008, TCTS SA™ aims to instil a culture of saving in the youth. The programme aims to reverse the downward spiral of poverty that leads to an ever widening Gini-coefficient by encouraging savings through education, product development and promoting savings as an essential element in improving livelihoods.

Corporate Social Investment

The Financial Inclusion division of The Banking Association is responsible for Corporate Social Investment (CSI) or Socio-Economic Development (SED) as per the sector code. There is a two-pronged approach to addressing this element. The Banking Association has been directly involved in health initiatives such as Breast Sens, an initiative to assist young girls and women to fight breast cancer. Other CSI/SED initiatives include an educational focus like the Makeba Centre for Girls, Take a Girl Child to Work and Men in the Making. The Banking Association has partnered with Young Girls Network, Alex Buddyz for Life Club and Youth Ambassadors to promote Youth development. We are also involved in initiatives that relate to Caring for Employees such as the JP Morgan Corporate Challenge, Mandela Day, Casual Day and Volunteer Appreciation.


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