B&W is a ‘Level 5 ’ contributor to broad-based BEE.
Currently the company aims to bring about true broad-based empowerment through:
•An Employee Trust which owns a 7% stake in the company, benefiting employees of more than four years’ uninterrupted service with an emphasis on black staff (75% of benefits).
•Enterprise development through mentoring small black-owned contractors, progressing to joint ventures and then to possible mergers/acquisitions in the following manner:
- Sections of work are sub-contracted and the contractors mentored and assessed for technical competence, financial stability and industry expertise;
- Joint ventures are formed where the contractor has demonstrated sufficient competence and mutual compatibility exists; and
- Once sufficient contracts have been completed on a joint venture basis, a company will be formed with B&W and the successful contractors as shareholders.
The group currently employs 1 000 - 2 000 people of whom over 85% are black. 15% of senior management and 7% of junior managers are black, while black directors currently make up 14% of the board. |