The Altron Group yesterday outlined its Transformation Vision 2010 document, which maps the company`s empowerment strategy.
The document, which includes a group scorecard for black economic empowerment (BEE), will provide a means for accountability and allow the company to set intermediary targets, says Altron corporate affairs executive director Dali Mpofu.
"Like anything in business, there must be someone to answer for this charter - someone to be called into account if targets are not met," he says.
Among the key targets in the 2010 document, Altron aims to raise equity ownership from its current 20% level to 25.1%, while increasing the number of black personnel in executive positions from 10% to 40%, says Mpofu, who is also chairman of the ICT charter working group.
"To implement our strategy will cost money, but as long as the ends justify the means, it is worth it. It is my firm belief that, unless we find unison between economic and political leadership in this country, we are not going to move forward," says Mpofu.
"We are convinced it will work. It is good for our company and for our country."
Altron CEO Robert Venter reinforced this view. "As management, we know our business is growth and profit, and this can only be done in a stable environment. And we know that we will only be able to do business if we are BEE-compliant."
Venter says the Transformation Vision 2010 document has been fully accepted and endorsed internally by the board and subsidiaries.
However, Mpofu stresses there is always room for improvement. "There is not a single person who is 100% happy with every word that is in the document, but such is the nature of consensus-making.
"This launch is not us saying we have arrived, it is saying that we are getting there."
Building BEE partnerships
The Altron Group chose to focus on specific partners in a bid to maximise the potential of BEE partnerships, says Venter.
"The BEE landscape is a complicated one. We have learned a lot from our experience and have incorporated it into Vision 2010. Thus we have chosen to focus on core partners rather than trying to be all things to all people."
The fact that the Altron Group is involved in various industries also played a role in the decision process, he says.
"To just go with one partner would not have made sense. All our partners are strong in their specific areas."
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