RNEWS / 29 OCTOBER 2019 - 17.56 / STAFF REPORTER
Port Elizabeth – Following the revisions to the Codes of Good Practice, gazetted earlier this year, the Coega Development Corporation (CDC) is pleased to announce that it has received a Broad Based Black Economic Empowerment (B-BBEE)- Level Two.
“This achievement makes the CDC one of the few State Owned Entities (SoE) with a B-BBEE- Level Two,” says Ntombozuko Sijila - CDC Senior B-BBEE Analyst.
The new codes incorporate five (5) elements, which include Ownership, Management Control, Skills Development, Enterprise & Supplier Development and Socio-Economic Development.
The CDC has worked hard since the implementation of the new Codes of Good Practice to improve the score. It is pleasing that the organisation also achieved 125% in procurement.
“In simple terms, goods procured from a B-BBEE compliant company results in an improved BEE status for the clients,” highlights Ms Sijila.
“So what this means is that companies would be able to claim 125% against their preferential procurement scoring, which means that for every R1 spend with the CDC, R1,25 will be recognized when measured for preferential procurement,” explains Ms Sijila.
She continues to mention that in advancing socio-economic development, the CDC has also been focusing on skills development programme targeting the youth,” adds Ms Sijila.
As a result, the CDC increased its score in this area. The CDC’s Head of Marketing, Brand and Communication, Dr Ayanda Vilakazi, applauded the organisation for achieving B-BBEE Level Two.
“The CDC continues to work hard to be a pillar of hope for socio-economic development in the region,” he said.
He continued to say, now that the CDC has achieved Level Two, the goal is to achieve BBBEE Level One.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER