Black Economic Empowerment
Black Economic Empowerment ("BEE") aims at substantially increasing black participation at all levels in the economy. This strategic imperative tries to redress the imbalances of the past by transferring more ownership, management and control of South Africa's financial and economic resources to the majority of its citizens. It also aims to ensure broader and meaningful participation in the economy by black people.
BCE Foodservice Equipment believes that BEE is a component of the broader transformation imperative in our country. BCE Foodservice Equipment believes that the starting point of our sustainable business is to understand the moment we are in, to understand the forces that shape the behaviour of our customers, and to lead our employees toward using our resources to create sustainable value for those customers.
Our Empowerment Charter encompasses the view that our transformation and overall business strategy go hand-in-hand, and our Charter aims to communicate to our stakeholders our current, as well as future state, empowerment scorecard and plan.
In line with the codes of good practice on black economic empowerment, BCE Foodservices Equipment has undergone a self-evaluation process and is currently a level seven contributor on the generic scorecard (greater than 40 but less than 45). This puts our B-BBEE recognition level at 50%.
In our accordance with our BEE strategic plan, we aim to be a level three contributor within two years.