We believe in engaging in B-BBEE initiatives that facilitate the meaningful participation of black people in the local economy, thereby guiding the country’s socio-economic transformation.
To show our commitment to B-BBEE, we have adopted a number of policies and initiatives to aid in our transformation journey. These include for example our gender and racial diversity policies which are discussed below as well as in our detailed governance report and other social initiatives. This year we have seen an improvement to our B-BBEE scorecard.
The plan of action that the Board established during 2018 produced positive results, boosting our B-BBEE contributor status in terms of the Property Sector Charter’s B-BBEE codes from a Level 7 to a Level 5 in 2020, with effective black ownership increasing substantially to 50,25%. The increase in effective black ownership was a result of the conclusion of the R1,8 billion office portfolio disposal to the majority black-owned Inani Property Holdings.
PREFERENTIAL PROCUREMENT AND SUPPLIER DEVELOPMENT
We have a preferential procurement policy that targets the procurement of goods and services from B-BBEE compliant suppliers and service providers, with a focus on small- and medium-sized businesses and our supplier development initiatives promote and financially assist B-BBEE compliant suppliers. In 2019 plans were put in place to make further inroads on supplier development and, by June 2020, total financial assistance, in the form of loans, had been provided to qualifying B-BBEE suppliers to date of more than R14 million.
To transform our shareholder base, we have also implemented a B-BBEE equity scheme.
To assist with the country’s socio-economic transformation, Emira supports B-BBEE initiatives that facilitate the meaningful participation of black people in the mainstream economy.