Kwazulu-natal: The KwaZulu-Natal Provincial Treasury has made strides in its Broad-Based Black Economic Empowerment (B-BBEE) compliance, moving up from a Level 6 to a Level 3 contributor. This advancement follows the department's recent achievement of a 91.02 point score on its B-BBEE scorecard.
According to South African Government News Agency, KZN Finance MEC Francois Rodgers expressed satisfaction with the improvement, highlighting its alignment with the department's commitment to transformation and economic inclusion. Rodgers emphasized that the progress reflects dedication to skills development, enterprise support, and socio-economic development.
"This improvement from Level 6 to Level 3 demonstrates our commitment to advancing meaningful economic transformation and creating opportunities for historically disadvantaged individuals and businesses. While we are encouraged by this achievement, we remain focused on strengthening our empowerment initiatives and ensuring that transformation contributes to inclusive economic growth across KwaZulu-Natal," Rodgers stated.
B-BBEE contributor levels assess an organization's performance against South Africa's B-BBEE framework objectives, with Level 1 being the highest status and Level 8 the lowest recognized level. Non-compliance is marked by a zero score. The latest scorecard positions the KwaZulu-Natal Provincial Treasury at Level 3, indicating enhanced performance against B-BBEE criteria.
Rodgers attributed the strong performance to advances in key scorecard elements. These include preferential procurement, where targeted efforts led to exceeding procurement spend targets on designated groups. Skills development initiatives, such as training programs for employees, internships, and the SAICA program for chartered accountants, also contributed to the improved score. Additionally, enterprise and supplier development, along with socio-economic initiatives like the iLembe Organic community project, supported rural black farmers, including youth beneficiaries.
Rodgers reaffirmed the Provincial Treasury's commitment to building on this achievement and furthering the objectives of Broad-Based Black Economic Empowerment in the province.
