Thebe reclaims its coveted Level 1 BEE status
Thebe has reclaimed its Level 1 black economic empowerment (BEE) rating in 2014 after being downgraded to Level 2 last year by BEE rating agency Empowerdex.
Over the next coming years, Thebe will endeavour to stay at Level 1 BEE rating, where it belongs.
The company has undertaken to strengthen the implementation of its broad-based BEE scorecard, particularly enterprise and supplier development and skills development. The Thebe Foundation’s initiatives in these two areas will ensure that Thebe stays there for a long time.
In tackling transformation, Thebe utilises the Department of Trade and Industry’s broad-based BEE Codes of Good Practice, which serves as a blueprint for deepening transformation in our country.
Thebe’s scorecard, in the year to end March 2014, was based on the BEE codes’ seven pillars of transformation, namely Ownership; Management and Control; Employment Equity; Skills Development; Preferential Procurement; Enterprise Development; and Socio-Economic Development.
Thebe is mindful of the amended BEE codes that are going to be effective in the next financial year, whose main purpose is to drive true transformation in the following areas:
- Creation of black-owned entities;
- Supporting black-owned suppliers and growing black small businesses; and
- Up-skilling black employees within businesses;
Thebe has begun efforts to put in place the required processes to align itself with the new BEE Act and the company is confident it will be ready to comply with the Codes when they are finally effect