BBBEE
The group fully supports BBBEE and has adopted a strategy that will ensure compliance with the BBBEE codes of good practice.
The transformation committee formulates, monitors and reviews all aspects of the group’s BBBEE policies and strategies, and it has adopted a transformation charter that is reviewed annually. There are sub-committees for each of the seven elements of the BBBEE generic scorecard and scorecard targets have been set. The sub-committees meet quarterly and report directly to the transformation committee.
The group is currently an accredited BBBEE level-6 contributor. The transformation committee has set an overall target of being a BBBEE level-4 contributor by 2011, together with goals for each of the seven elements of BBBEE.
In the Financial Mail/EmpowerDEX survey of top empowerment listed companies the group ranked 2nd, 4th, 2nd and 3rd in 2009, 2008, 2007 and 2006 respectively within the retail sector.
The group is rated every year by an independent BBBEE verification agency that is a SANAS-accredited verification agency. Group suppliers are required to obtain annual ratings through such accredited verification agencies. (The group is continually proactive in educating suppliers about BBBEE)