The Supervisory Board recognises the critical role it has to play in the transformation process in South Africa. The Supervisory Board’s Social and Ethics Committee, through its governance and oversight role, ensures that an appropriate transformation strategy exists that is aligned with the Broad-Based Black Economic Empowerment Act (B-BBEE) and the associated codes of good practice.
The role of the committee is to achieve sustainable empowerment and it has an ongoing responsibility to govern and oversee all aspects of the Group’s B-BBEE strategy and implementation. At its meetings during the 2022 financial year. the committee received feedback detailing matters relevant to each of the functional areas within its transformation mandate.
Our B-BBEE performance
For the financial year end 31 March 2023, the commitment of the Group to transformation yielded a B-BBEE verification score of 81.41 out of 120 points.
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 Empowering Supplier status in terms of the dti’s B-BBEE scorecard was also achieved.