For the financial year ended 31 March 2022, the commitment of the Group to transformation yielded a Broad-Based Black Economic Empowerment (B-BBEE) verification score of 84,44 points out of 120 points – a significant increase from the previous year’s score of 72,25. This score coupled with the Group’s successful participation in the YES Initiative meant that the outcome achieved was a B-BBEE Level 3.
The YES Initiative is a collaboration between business and government to address youth unemployment. Our aim is to target unemployed youth who did not have the opportunity to train or study at a higher learning institute. In this way we create jobs, contribute to empowerment and help communities reduce reliance on social grants. 425 youth were retained during the 2022 financial year and 300 absorbed into our business.
The Black representation at both the Operating Board and executive management levels is being secured through a continued focus on diversity in the succession planning and talent management processes.
Employment equity remains a critical aspect of TFG’s transformation agenda, with a focus on our senior and middle management levels as well as people living with disabilities. We continue to work with our heads of business to incorporate transformation into their operational strategies. Our transformation drive this year delivered a sustained increase in the representation of Black employees within our senior, middle and junior management teams.
The Group continues to support the government’s strategy of job creation and skills development by investing in key skills required to sustain and grow the retail sector and its own workforce. This year, the Group made additional significant investments in Skills Development to support the employment, particularly of youth, through learnerships, internships and with a critical focus on people living with disabilities.
Other highlights for the year include creating more than 7 176 new jobs and workplace opportunities in South Africa. We increased our spend with small black-owned businesses by more than R2billion and invested R105million in social impact initiatives including enterprise and supplier development and support to communities and NGOs.
The Group continues to work with our relief agency partner Gift of the Givers to make donations towards various communities as part of their disaster relief efforts. Other socio-economic development initiatives included bursaries and other brand led initiatives aligned to our customers.
Link to our B-BBEE certificate – CLICK HERE.
Our transformation drive delivered a sustained increase in the representation of Black employees in our senior and middle management teams.