Media24 has achieved a Level 4 BBBEE scorecard under the revised Broad-Based Black Economic Empowerment (BBBEE) codes.
“We are very proud of this achievement,” says Media24 chief executive, Esmaré Weideman. “Despite the higher thresholds and potential for penalties our final score is 80.44 – just 0.11 of a point lower than our previous scorecard.”
The 2016 BEE scorecard was announced after an external audit was completed. Highlights of the company’s 2016 scorecard include:
- A total procurement recognition level of 100%
- Achieved status as an Empowering Supplier
- Full points achieved for Socio-Economic Development
- Full points for the sub-element of Enterprise & Supplier Development
(excluding Preferential Procurement) including bonus points
- Black ownership of 52.94% and black female ownership of 24.95%
The policies and strategies which have been put into practice in the group have ensured that measurable progress has been made towards genuine black economic empowerment.
“While happy with the achievement we recognise that there is still much work to do, especially on preferential procurement,” says Weideman. “This result is possible only through genuine dedication by our people. We are fully committed to transformation and will do what is needed to reach our goals.”
