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Diversity is not just a tick-box exercise; it is a strategic imperative that directly impacts organisational growth and competitiveness. It encompasses a broad range of experiences, perspectives, skills, and backgrounds that collectively contribute to better decision-making and enhanced corporate governance.
In the latest Top Empowerment Masterclass, Nirmala shares her expertise, taking us through the approaches that make ESD programmes a success – from the perspective of both corporations and suppliers looking to benefit from such programmes – and shares examples of the success Nedbank has had in their own programmes.
Enterprise Supplier Development (ESD) has emerged as an effective approach to achieving the vision set out in the NDP. Suppliers from previously-disadvantaged backgrounds are faced with an array of challenges when setting up businesses and attempting to enter the market. Supplier development initiatives seek to transform supply chains, by providing support through training, financing and preferential procurement.
“Transformation in the sector has dealt some blows, with the industry operating on B-BBEE codes of good practice that have not been updated in a decade, according to the Sanlam Gauge 2022 report. It has also lacked guidance from a charter council – which is at the core of policing B-BBEE progress – for several years.”
“Although the sector is a key employer, there remains a significant wage gap between the highest and lowest-paid workers. To address this, some retailers have established a minimum wage of more than 8% above the national average.”
“According to Stats SA, the production from the agriculture sector increased by 19.2% in the third quarter of 2022, contributing 0.5 of a percentage point to GDP growth. This, they said, was mainly associated with a rise in the production of field crops and horticulture products.”
“The South African automotive industry is one of South Africa’s largest economic sectors by revenue, contributing 4.3% to the country’s GDP. The industry accounts for more than 17% of the country’s manufacturing output.”
“Through various initiatives it has sought to decrease unemployment and assist black-owned SMMEs in finding a footing in the mainstream economy. Here we look at a few government initiatives which are giving a helping hand to black-owned businesses and the unemployed.”
“South Africa currently has more than 25 000 schools, 23 000 of which are public schools that make provisions for more than 12 million learners. These estimates indicate that, on average, there is one school for every 500 learners.”
“According to the Employment Equity Act No. 55 of 1998, as Amended (EEA), if an organisation fits the definition of a ‘Designated Employer’, it is obligated to perform the duties outlined in sections 16 through to 26 of the Act.”
“Despite many plans and interventions by the government, unemployment continues to rear its ugly head; this is evident by the Quarter 3, of the Quarterly Labor Force Survey (QLFS) results of 29 November 2022 citing a 32,9% unemployment rate which is a slight improvement from Q2. The National Development Plan 2030 target is 11 million new jobs by 2030.”
“Along with Talifhani, here we’re going to take a look at two other CEOs who were recognised at the 2022 awards: Tshegetsang Sebeela, the CEO of TEG, and Dr Felleng Yende, the CEO of FP&M SETA.”
“Twenty-nine years into democracy, it is self-evident that we, collectively, have not succeeded in eradicating the legacy of apartheid.”
By Yolisa Phahle, CEO: Connected Video, Multichoice Group I believe there is a relationship between countries with strong economies and a thriving...
“This tech intensity is becoming ever more apparent in South African businesses and is translating to the areas they are investing in when it comes to technology. According to the 2021 South African Science, Technology and Innovation Indicators Report, nearly 70 percent of firms in the country are using technology to innovate.”
By Dr Alistair Mokoena, Country Lead, Google South Africa Diversity and inclusion have become buzzwords in the business world over the past...
In South Africa, localisation has many economic benefits with no limitations when exercised correctly. For many years, localisation has been a part of the economic recovery strategy because it is the main ingredient for creating a sustainable economy and eradicating unemployment.
Considering that there are more than 90 000 hectares of vines under cultivation, with over 200 000 people employed by the wine industry, and a R55-billion contribution to GDP in recent years, increasing at 10% per annum, further growth would not only be an incredible achievement, but also a welcomed boost to the South African economy.
This year’s theme “Africa Driving a Transformed Economy” paid homage to those who are committed to empowering black-owned businesses and concluded with an awards ceremony announcing 12 South African businesses and individuals that have proven to be transformative.
Taking place virtually during Nelson Mandela Month, from 20-21July 2022, The Top Empowerment Conference & Awards will connect business leaders and organisations all with the common goal of transforming Africa.
Despite having turbulent memories as a result of our country’s oppressive past, Black South Africans continue to emerge from the dust as critical contributors to our country’s economy.
B-BBEE aims to ensure that South African citizens who were previously excluded can now have meaningful participation in the country’s economy. In line with this, a major objective of the programme is the creation of capacity at all levels through employment equity, socio-economic development, preferential procurement and skills and enterprise development.
This year the esteemed winner of the Top Empowerment Lifetime Achiever Award was philanthropist, business leader, and believer in active citizenry, Trevor Manuel, who had served as a Cabinet Minister from 1994 to 2014 under the first four Presidents of democratic South Africa.
LeeBex was founded by Rebecca Garande and Lesego Legobane (popularly known as model, Thickleeyonce) in 2016
Advice on how to make the most of your next hotel visit.