Transformation and Broad Based Black Economic Empowerment

A stable, demographically representative economic market in South Africa is fundamental to the sustainability of the business and our future growth on the local market. BSi Steel has embraced transformation within the organization and we are proud to have been independently rated by EMEX as a LEVEL 5 B-BBEE contributor as at August 2010.

In order to continue to achieve an improved rating we have prioritizing skills development initiatives (learnerships, internships, experiential learning and disabled training) and undertaken more synergistic enterprise development initiatives that feed directly into the business synergies.

Our major Enterprise Development projects are:

• Our major Enterprise Development projects are:
• Shalom Caterers (offer financial support and business assistance to Catering Company)
• JMMP Transport (offer financial support and business assistance to Transport Company)
• Business Support Centre (offer financial support, board representation, administration assistance and marketing assistance to this NGO for black entrepreneurship development)
• IFTA Training Centre (offer scrap steel to an ED venture to help recently qualified black artisans develop as entrepreneurs)

With our commitment to Employment Equity and Skills Development our objective is to improve our management control scorecard element over time and continue to look at economically sound B-BBEE ownership measures when the market is more attractive for this type of investment.

Our preferential procurement practices will continue to focus on developing business links with black owned and black SMME suppliers. It was our hope to see Arcelor Mittal coming through with a B-BBEE rating before our next rating has been concluded in July 2011, but at this time this is unlikely and we will need to continue to focus on the other elements of the scorecard within our control.

BSi Steel is a community focused business and we have always contributed extensively to non-profit organizations across our operating regions.

SED beneficiaries have included:

• Rena Le Lona
• White Cross Disabled Hope Centre
• Reach Out With Love
• Big Brothers and Big Sisters
• Thulani Bantwana Children’s Home
• Durban Children’s Home
• CANSA
• PMB Community Chest
• Thembelihle School
• Happy Child Foundation
• Msunduzi Hospice

In addition for this year we have continued to award education bursaries to under privileged students and it’s our intention to make sure that such students awarded with BSi bursaries feed sustainably into our graduate development programme where possible.

Most important to us is that Transformation is not a stand-alone strategy/committee and therefore we have woven our Transformation and B-BBEE strategic plan into our overall Company Strategic Plan so that the alignment of the two strategies is guaranteed to make business sense at all times.

Click here to download the BBBEE certificate.