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SAMSUNG MAINTAINS LEVEL 1 B-BBEE STATUS FOR FIFTH YEAR IN A ROW

26 April 2023 - Samsung

Hlubi Shivanda, director of business operations, innovation & corporate affairs at Samsung SA. Picture: Samsung SA


The leading electronics company credits this achievement to its continued investment in SA.


Harnessing the power of technology and innovation can greatly benefit Mzansi — this is something Samsung SA has proved again and again through the success of its many local empowerment, entrepreneurial and skills-based projects.

In fact, the leading electronics company credits its continued corporate social investment in SA as being a strong contributor to it achieving level 1 broad-based BEE (BBBEE) status for the fifth consecutive year. “This incredible achievement is a reaffirmation of Samsung’s commitment to prioritising BBBEE as a non-negotiable practice within our businesses,” says Hlubi Shivanda, director of business operations, innovation & corporate affairs at Samsung SA.

“The overarching goal of the country’s BBBEE programme is the upliftment of the South African economy. Over the years, Samsung has focused on policies that are designed to empower South Africans in meaningful ways. Our vision for the country is therefore closely aligned with the government’s BBBEE policy.”

Samsung’s 10-year plan aims to address key developmental aspects linked to the National Development Plan and the overall transformation of the local economy. In particular, the company continues to build on its landmark multi-million-rand Equity Equivalent Investment Programme (EEIP), which aims to empower previously disadvantaged South Africans through enterprise development, with a focus on women and youth in the ICT sector.

Launched in 2019, Samsung's EEIP is expected to have a measurable impact on job creation, with a projected contribution of more than R1bn to the local economy. Samsung’s commitment to SA’s future success and economic growth is also illustrated through its many initiatives to address youth unemployment and the shortage of critical skills in the ICT sector.

The company provides wide-ranging support to SA's youth through bursaries, learnerships and the Samsung Engineering Academy programme. The Samsung Innovation Campus programme partners the company with universities to develop and teach coding, software development, the internet of things and artificial intelligence skills to youth from underserviced communities. This year, Samsung also introduced of the inaugural SA edition of its global Solve for Tomorrow competition.

With a focus on enhancing grade 10 and 11 leaners' science, technology, engineering and maths (Stem) skills, this contest challenges them to use innovative thinking, creative problem-solving and teamwork to address pressing problems affecting their communities.

Samsung’s transformation efforts are a clear indication of the company’s tremendous contribution to the achievement of the country’s overall BBBEE goals and objectives. “Samsung knows that it is no small responsibility to realise the country’s long-term goals as this requires collective effort from citizens, corporate organisations and government,” says Shivanda.

“At Samsung, we believe that transformation is a business imperative and a requirement for the sustainability of our business. However, we are also convinced that concerted transformation efforts can have an incredible socioeconomic impact and effect lasting change in the country’s economy.”

Samsung's BBBEE strategy at a glance The focus areas of Samsung’s overall BBBEE philosophy and strategy (excluding the ownership element, which is subject to EEIP) include:

  • The annual progression of race and gender representation at each occupational level, with specific emphasis on African male and African female representation.

  • Increased focus on both employed learners and unemployed learners, supported by an emphasis on creating work experiences post the learnership/internship period; this is over and above Samsung’s EEIP commitments.

  • Provision of education support through bursaries, both internally and externally.

  • Continued focus on development of black talent in the Samsung SA business.

  • Redirecting existing spend to qualifying black-owned and black-women-owned small enterprises and exempt micro enterprises to include them in Samsung SA's existing procurement value chain with a focus on marketing, services, sales, logistics and recruitment. Provision of grant and preferential loan funding to qualifying enterprise development beneficiaries, with the possibility of graduating them to become suppliers to Samsung SA.

  • In addition to increasing spend with identified supplier development beneficiaries, the qualifying entities may be provided with grant and preferential loan funding.

  • Education-focused socioeconomic development initiatives through the Samsung Innovation Campus and Solve For Tomorrow competition umbrella to further Samsung SA’s commitment to the upliftment of underserved communities.



‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’.


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