Vodacom moves up the B-BBEE ladder

Telecommunications giant, Vodacom, founded in 1994, today announced that it has achieved the highest BBBEE contributor score of Level 1.

The company in a statement said it had earned the level 1 status due to of its local subsidiaries accelerating a concerted transformation strategy, ensuring that the Group exceeds its financial year 2019/20 targets against all the five components of the BBBEE scorecard

Vodacom Group CEO Shameel Joosub, said the results are a full demonstration of the company’s commitment to supporting government’s national imperative goals involving the support of black SMMEs, Youth Employment, Skills Development and uplifting local communities still trapped in abject poverty.

“These positive results show that at Vodacom we are serious about the transformation agenda and the development of South Africa. We view Broad-based Black Economic Empowerment as an important policy intervention to deal with SA’s inequality,” Joosub said.

“It is my view that no economy can grow by excluding a section of its population but the economy needs to grow to drive inclusion and this is an area we will continue to support the government.”

The company’s multi billion rand procurement which benefited black and women owned enterprises played a big role in its new B-BBEE status.

Joosub said the company spent R13 billion with suppliers that are more than 51% blacked-owned and R15 billion was spent procuring services from businesses which are more than 30% black woman-owned.

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