Listed electronics company Altech wants to move up the empowerment ladder and is targeting level two status.
Altech recently reached level three broad-based empowerment level, in terms of the Department of Trade and Industry's Codes of Good Practice. The highest level that can be attained is level one.
Altech scored 110% for procurement recognition, 28.6% in black ownership and 13.2% in black female ownership, which earned it the maximum amount of points.
Johan Klein, group executive for human resources and industrial relations, says: “Altech is committed to transformation and empowerment through skills enhancement, representative shareholding, and widespread development of disadvantaged communities.”
Klein adds that the level three rating was achieved ahead of the company's “Vision 2012 Transformation” goals. “But this does not mean that we will rest on our laurels; there is much to be done in SA by way of education, training and job creation,” he says.
More to do
Shenanda Janse van Rensburg, group executive of marketing, public relations and communications, notes that the company has targets that it monitors against the department's scorecard.
“Our business targets include corporate social investment, employing black men and women in key management roles, training and developing our employees for personal enrichment, as well as ensuring a consistent skills pipeline for the group,” Janse van Rensburg says.
She explains that moving up the empowerment ladder will aid the company in securing government tenders.
“Transformation is driven by the company's top leadership - we do not merely pay lip service to our goals of upliftment and making a meaningful difference to the communities in which we operate. Transformation is a business imperative; the implementation of which will shape Altech's future viability,” adds Klein.
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