South African President Thabo Mbeki on Wednesday gave the nod to the Broad-Based Black Economic Empowerment Act of 2003, which will come into operation on a date still to be determined by him.
Presidential spokesperson Bheki Khumalo said on Thursday the Act made provision for the establishment of a legislative framework for the promotion of black economic empowerment, with the main purpose of promoting the participation of black people in the economy of the country, access to finance for black economic empowerment, increasing the extent to which women owned and managed existing and new enterprises, and their access to economic activities,
infrastructure and skills training.
The Act empowers the Minister of Trade and Industry to issue codes of good practice on BEE, and also makes provision for establishment of a BEE Advisory Council.
Khumalo said the passing of this Act was an important milestone for a democratic South Africa, and gave impetus to the constitutional right to equality for the majority of the people of this country.
Meanwhile, on Wednesday, Mbeki appointed Justices Johan Vincent Van der Westhuizen and Thembile Lewis Skweyiya of the Transvaal and Natal Divisions of the High Court respectively, as Judges of the Constitutional Court with effect from February 1 2004.
The appointment was the culmination of a process which began with the interviews of candidates by the Judicial Service Commission, Khumalo said. – Sapa