Level 2 B-BBEE rating for equipment supplier
01 October 2019 | Web Article Number: ME201916289
ENGINEERING equipment supplier EMVAfrica was recently awarded Level 2 Broad-Based Black Economic Empowerment (B-BBEE) status.
“Our significant investment in transformation is leading the way for a progressive and sustainable future and we are extremely proud to reap the rewards of our ongoing efforts,” said Director, Graham Whitty.
Formerly named Energy Engineered Products, the company comprises two divisions, ENERGYMetals and ENERGYValves as well as associated company, Multi Alloys.
In 2017, the company signed a BEE ownership agreement with Edwin Bogopa of Metsana Engineering who joined as a shareholder and non-executive director. In the same year, Anesh Prithilall and Rowena Suneerchand, both senior managers, were awarded a shareholding in the company.
“The development of our BEE partners as well as our shareholders has been a key part of the industrial group’s success and will remain a core focus in line with our B-BBEE growth goals.”
Whitty attributed the company’s progression from its 2018 Level 3 to Level 2 B-BBEE status to improvements in three main areas: management control, training and procurement.
“Ongoing meaningful training, mentoring and career development programmes have resulted in advancements in the group’s management control area which has seen new managers moving into leadership positions.”
He said the company has also been successful in supporting unemployed people through learnerships. “By aligning to transformation initiatives, the company is able to position itself as a diversely representative and fair place to work.”
He added that the company’s continued efforts in backing other transformed businesses had resulted in a boosted procurement score. “By endeavouring to constantly do more and do better in all aspects of our business, we are able to enjoy these achievements.
“While the value of our new Level 2 B-BBEE rating is difficult to quantify, given the current economic climate, we do believe that it is without any doubt considerable. Level 2 B-BBEE status also adds value for our customers who are now able to score 125% of their procurement spend with us towards their own rating,” Whitty said.