Broad-Based Black Economic Empowerment (B-BBEE)
We fully support the constructive intentions of the government to transform South African businesses through the B-BBEE codes. The Group completed its B-BBEE verification process for the year ending 30 June 2015 and achieved a Level 4 contributor status in accordance with the Department of Trade and Industry Agriculture Codes. Our scoring improved by 10 points, in line with our commitment to organisational transformation.
In terms of the Group’s commitment to monitor and maintain compliance with its targets, the following is reviewed on a regular basis:
- Reports to the board on a quarterly basis regarding equity targets.
- BEE scorecard performance which is reported to the Social and Ethics Committee.
- Monitoring BEE trends over a number of years (approximately 3 years by functional area).
We firmly believe that successful transformation is key to the Group maintaining its edge on sustainability practices.
Further details on BEE are reported on an annual basis in the Sustainability Report and the Integrated Annual Report, which can be downloaded below: