Driving corporate social responsibility through Black economic empowerment

Abstract

Motivated by the imperative to redress the imbalances caused by economic exclusion, government has taken remedial measures and established a framework aimed at empowering Black South Africans. Government's commitment to empowering previously disadvantaged South Africans and achieving socio-economic transformation is underlined by its enactment of the Broad-Based Black Economic Empowerment Act which is aimed at advancing social and economic justice. This Act represents an attempt by government to achieve substantive equality by placing black people in a position to fully participate in all spheres of society in order to develop their full human potential. The Act strives towards transforming society through the dismantling of economic inequality and is widely regarded as the pre-eminent vehicle for the redistribution of wealth in post-apartheid South Africa. It further represents an attempt to address the disadvantages and vulnerability caused by apartheid and consequently has a clear remedial nature.