Transformation beyond B-BBEE level in South Africa
MINING REVIEW / 16 MAY 2020 - 18.00 / STAFF REPORTER
Worley, a global provider of professional project and asset services, remains at the forefront of local transformation in South Africa, driven by a bona fide intention of creating sustainable change and empowered partnerships.
Viewing transformation beyond B-BBEE-level improvement, Worley is leading this agenda in engineering across the energy, chemicals and resources sectors in South Africa, and recognises that these sectors are primary drivers for employment and transformation in the country.
Understanding the value of the local market is key to the company’s business strategy as it leverages global expertise and well-entrenched local business to add real value to transformation in South Africa.
Project Portfolio Manager for Worley RSA, Gladwin Mfolo, says in South Africa transformation is often driven by compliance considerations; however, at Worley the focus is directed on creating the sustainable impact needed to build a better South Africa.
By aligning its services to be compliant with and exceed the requirements of various transformation legislation, Worley has been able to redefine and position its business for success, while simultaneously securing a better future for all enterprises engaged in the organisation.
“An example of this is our recent B-BBEE level improvement from a Level Four to a Level Two contributor through our continued effort to improve on ownership, management and control, skills development, procurement and supplier development, and socio-economic development,” says Mfolo.
Locally, Worley fulfils much of its B-BBEE compliancy through Enterprise and Supplier Development (ESD), an initiative that supports meaningful transformation of the southern Africa economy by providing tangible opportunities for small businesses to prosper and expand.
First launched in 2013, Worley’s ESD programme assists partner companies with capability and capacity building with a special focus on value-added activities within the South African industry through service-related functions. Consequently, Worley works closely with its ESD partners in pursuing work and executing projects.
He says that these mutually beneficial partnerships are solidified based on the individual strengths that each party brings to the table, as development partners benefit from skills transfer and exposure to large projects. The long-term success of traditional markets is also secured.
Mfolo believes that the engineering sector and its associated infrastructure has much to gain from Worley’s ESD initiative as Worley and its enterprise supplier development partners jointly deliver world-class engineering services in South Africa.
“We expect to see more joint service delivery as the programme expands and our ESD partner companies are exposed to skills transfer and world-class delivery systems.”
Recently, Worley RSA entered into an agreement with Matasis Investment Holdings, which saw Matasis concluding a 35% B-BBEE equity transaction with Worley RSA.
The two businesses will work closely together to provide transformative solutions to the complex challenges facing southern Africa’s resources, energy and chemicals sectors. By improving their black shareholding, Worley RSA is now 18.11% black female owned and 10.84% is black designated group owned.
Yusuf Vorajee, CEO of Matasis Investment Holdings, says Worley’s recent internal transformation has positioned the business well in taking a global and innovative approach to socio-economic empowerment programmes.
“Our business strategy is fluid and adaptable in order to remain relevant and respond to B-BBEE transformation requirements and beyond.”
Vorajee says that by acquiring significant and meaningful equity in a limited number of South African companies, Matasis Investment Holdings can create fully operational, active partnerships that facilitate the participation of historically marginalised citizens in the economic prospects and growth in South Africa.
He adds that a corporate transformation strategy is fundamental to any social development programme, not only to maintain an organisation’s relevance in a changing economic and business environment, but also to ensure benefit to all.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER