<p><em>The following information was taken from the&nbsp;<a href="https://www.thedti.gov.za/economic_empowerment/bee_sector_charters.jsp" target="_blank">tdi.gov.za</a></em></p>
<p>The Minister of Trade and Industry gazetted the Financial Services Sector Code, which provides transformation guidelines for the financial sector, one of the key sectors of the South African economy.</p>
<p>The Minister also approved the application of the 'once empowered, always empowered' principle with a condition that Government, together with the Financial Services Sector Charter Council, monitor the dilution of black shareholding in the sector.</p>
<p>A review will be conducted every two years to determine the level of transformation in the sector and, in particular, the impact of the 'once empowered, always empowered' principle.</p>
<p>A key, unique feature of the Financial Sector Code is the introduction of an extra element, bringing the elements to eight in total and not seven as in the Generic Codes. The extra element, known as Access to Financial Services, aims to facilitate access to finance for black people and black-owned enterprises.</p>
<table border="0">
<tbody>
<tr>
<td><a href="/tender_just/m/self_help/1033/download"><img src="/resized-image/__size/30x0/__key/communityserver-wikis-components-files/00-00-00-25-53/3755.pdf_2D00_icon.png" alt=" " /></a></td>
<td><a href="/tender_just/m/self_help/1033/download">Financial Sector Charter</a></td>
</tr>
</tbody>
</table>