Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Sector CodesLegal Sector Code, 20245. Introduction and Preamble |
| 5.1. | Economic transformation is a constitutional imperative. There can be no equality as provided for in the Bill of Rights without effective transformation. Black economic empowerment is an indispensable policy instrument to achieve such equality. |
| 5.2. | As indicated above, despite the advent of democracy and the new dispensation in April 1994, the South African legal profession continues to face transformational challenges. This is evidenced by the fact that, among others, the top and senior management positions including senior partners and directors of racially mixed law firms remain largely homogenous and are generally dominated by white male practitioners. As such, there is a marked absence of diversity on the basis of either race or gender. |
| 5.3. | Although there have been pockets of improvement, a holistic overview of the South African legal profession shows that despite an increase in the numbers of admitted black legal practitioners, there are still insufficient black-owned law firms in the country that can compete in size, scale and service offerings with the large traditionally established, majority white owned law firms. |