The Ports Regulator of South Africa (PRSA) and the Broad-Based Black Economic Empowerment (B-BBEE) Commission have signed a Memorandum of Understanding (MoU) to address transformation in the ports sector.
The MoU facilitates the exchange of information, strategies, expertise, and research related to B-BBEE and transformation, aiming to bolster economic empowerment within the sector.
According to a joint statement, the partnership seeks to tackle the slow pace of transformation, citing statistics indicating low levels of Black ownership and Black women representation in port terminal operations, leases, and services.
While the integrated transport sector has made progress in black ownership, with 58% ownership of JSE-listed entities and 25% black women ownership in 2022, the ports sub-sector still faces challenges.
The statement highlights enforcement and accountability as significant hurdles, underscoring the need for collaborative efforts to strengthen monitoring and compliance with the B-BBEE Act.
The MoU emphasizes joint initiatives for awareness, advocacy, research, and interventions to enhance transformation activities within the ports sector. This collaboration aims to ensure equitable benefits for black operators and port users, driving future progress.
