Empowerdex announce the most empowered JSE listed-companies in SA

October 5, 2017

BUSINESS REPORT / 4 OCTOBER 2017, 7:00PM / STAFF REPORTER

 

JOHANNESBURG - At a gala dinner event last night, economic empowerment rating agency Empowerdex announced the results of its 2017 Most Empowered Company Survey.

 

The survey measures JSE listed companies’ performance in achieving overall transformation, and assesses them on a number of factors, from ownership to enterprise development. Empowerdex handed out awards to the companies that came out tops in the survey.

Hosken Consolidated Investments, African Equity Empowerment Investment and Premier Fishing SA were named the most empowered black-owned companies in South Africa in 2017.

 

Ansys, Sun International and Tsogo Sun Holdings took top honours as the most empowered JSE-listed companies in South Africa in 2017. 

 

Three banks, Nedbank, FirstRand and Standard Bank, received awards in the category for Most Empowered Company: Amended Codes of Good Practice while Hosken Consolidated Investments, African Equity Empowerment Investment and Premier Fishing SA were named the most empowered black-owned companies in South Africa in 2017.

 

Speaking at the gala event, Nomzamo Xaba, group executive of Empowerdex said that the 2017 Most Empowered Companies Survey took in consideration the equity ownership scores as reported by the various accredited B-BBEE ratings agencies for this year’s participants.

 

Hosken Consolidated Investments, African Equity Empowerment Investment and Premier Fishing SA were named the most empowered black-owned companies in South Africa in 2017.

 

“The reported ownership includes all the allowable equity enhancements, which are not well understood," she elaborated. "This is made clear when a listed company presents its BEE ownership score and a procurement officer fails to understand the complex components making up the percentage of black ownership indicated on a scorecard.”

 

Xaba noted that South Africa needs more education on financial modelling and on the concept of substance of legal form in order to ease the discomfort felt by those who award contracts, and those who design these complex structures.

 

“Perhaps it is also important to determine a baseline of actual debt-free direct equity across the economy, before all enhancements, in order to understand the actual equity in the hands of black people, as this is likely the truest measure of unencumbered equity to which black shareholders are entitled,” she said.

 

Mike Ntsasa, group executive at Independent Media said the media company would continue driving and inspiring real transformation practices by creating awareness. Independent’s business daily, Business Report, has been in partnership with Empoweredex's Most Empowered Company Survey since 2014.

 

“Our role is to ensure that we continue reporting on these issues," he said. "We hope that the publicity generated will also encourage others to come on board in doing the right thing towards ensuring that South Africa becomes truly transformed."

 

We need transformation that will improve the social-economic circumstances of the majority of South Africans, and we must continue in efforts to accelerate programs aimed at encouraging and driving real transformation in businesses, said the keynote speaker, Dr Zweli Mkhize, treasurer-general of the African National Congress speaking at the awards ceremony. 

 

“We must hold companies accountable to ensure that they meet empowerment targets for the country to meet our transformation goals”.

 

2017 Most Empowered Company Survey results per category are as follows: 

 

Most Empowered JSE-listed Company
1. Ansys Ltd
2. Sun International Ltd
3. Tsogo Sun Holdings Ltd

 

Most Empowered Company: Amended Codes of Good Practice
1. Nedbank Ltd
2. FirstRand Ltd
3. Standard Bank Group Ltd 

 

Most Empowered Black-Owned Company
1. Hosken Consolidated Investments Ltd
2. African Equity Empowerment Investment Ltd
3. Premier Fishing (South Africa) (Pty) Ltd

 

Most Empowered Black-Managed Company
1. Vodacom Group Ltd
2. Ansys Ltd
3. Oceana Group Ltd

 

- BUSINESS REPORT ONLINE 

 

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LINK - https://www.iol.co.za/business-report/empowerdex-announce-the-most-empowered-jse-listed-companies-in-sa-11477228

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