Broad Based Black Empowerment (B-BBEE)
AECI supports the South African government’s Broad Based Black Empowerment (“B-BBEE”) Act, No. 53 of 2003, the Codes of Good Practices gazetted in 2007 and the Amended Codes of 2013. AECI also recognises the importance of achieving a sustainable socio-economic environment through the meaningful participation of Black people in the mainstream economy and the Company is committed to the implementation and success of broad-based empowerment in all its businesses in South Africa.
AECI was a Level 4 B-BBEE Contributor in terms of the former Codes of Good Practice. With the application of the Amended Codes, this dropped to Level 8. AECI actively pursued a recovery to Level 4 and implemented a formal plan to accelerate its transformation journey. It was extremely pleasing that the Company not only regained but exceeded its prior Contributor status. AECI received its new B-BBEE certificate on 4 April 2018.