As a committed corporate citizen and one of the largest employers in South Africa, we continue to support and empower the individuals, businesses and communities we serve. We acknowledge that transformation is key to long‑term growth and sustainability and while scorecards and good B-BBEE ratings play a vital role in accessing opportunities it remains only a benchmark and measurement for change that happens beyond the tick-box framework.
We are cognisant of the fact that if we are going to achieve transformation in a way that strengthens our businesses rather than burden it with legislation, there has to be a more collaborative and inclusive approach between the private sector and government.
As a leader in business we will continue to be proactive and lead by example. We are clear on the fact that our success in securing business growth and sustainability hinges on our ability to critically assess and overcome the current challenges by identifying different ways of doing business. We view our relationships with customers and suppliers as key and a platform for more strategic solutions and partnerships alike.
In line with the decentralised operating model of the Group, every subsidiary business acquires its own B-BBEE rating that it uses to operate and trade. So, 85% of the individual subsidiary businesses achieved between a Level 1-4 rating; 76% a Level 1-3 rating. A Level 2 Group rating was achieved in November 2023.
Management diversity remains top of mind to encourage inclusivity and different ways of thinking. We know that a diverse leadership team and employee base will foster innovation and stimulate an environment within which everyone can thrive. Various leadership interventions across the Group, for example the Bidvest Academy and Executive Development Programmes, bode well to prepare young, diverse leaders for the future. Currently 64% of our board is female, 82% black whilst 58% of our Exco is female, 58% black.
Transforming our supply chain is crucial, although challenged, by a burdensome legislative environment that impedes the development of SMMEs. It is with this in mind, that Bidvest launched the Bidvest Supplier Diversity Programme in 2022. The programme promotes economic transformation and supports the need to build a supplier network that is diverse and inclusive and procurment processes that are equitable and fair. This is a long-term partnership with a group of entrepreneurs whose businesses currently form part of the Bidvest supply chain. New opportunities harnessed within and outside Bidvest have been a major success factor to date.
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