Abstract
The Black Economic Empowerment (BEE) policy was introduced in 1993 to enhance economic opportunities for previously disadvantaged communities in South Africa. The policy aimed to address historical inequalities through various socio-economic strategies. It has however been criticised, for falling short of its intended purpose, leading to the enrichment of a select political elite rather than broad-based empowerment.
The context of apartheid-era exclusion introduces the backdrop from which the need arouses to redress the imbalances of the past to foster change within economic South Africa. The evolution of the BEE policy to the revised Broad-Based Black Economic Empowerment (B-BBEE) advocates for continuous change for economic inclusion within industry, having previously criticised, the revised policy provides and advocate for urgent measure to probe inclusion within the private sectors.
This study examines supplier diversity in a South African Petrochemical Company and how (B-BBEE) policies, particularly Enterprise and Supplier Development (ESD) and Preferential Procurement (PP), support the integration of Diverse suppliers. Diverse supplier integration therefore focuses on creating procurement opportunities for suppliers within previously disadvantaged communities and the research emphasises the role of ESD and PP in enabling Diverse suppliers’ integration in a Petrochemical Company’s supply chains. It highlights the challenges and opportunities for inclusive growth in this historically imbalanced sector. The study aims to contribute to the discourse on economic transformation and inclusive growth in the petrochemical sector, offering insights into overcoming historical imbalances and fostering sustainable supplier diversity.