Jasco Electronics Holdings has been upgraded from a BBB rating to an A rating by the Empowerdex rating agency, which confirms the group`s status as a black empowered entity.
The company says in a statement that it is 51% black-controlled, with black women holding 10%, while total black representation is 72%, with black female representation at 36%.
Delegates trained as a percentage of the total workforce is 94%, with 72% being black, says Jasco, and its affirmative procurement spend more than doubled to 30% of discretionary procurement, with about R32 million being sourced from BEE suppliers during the past year.
Jasco concluded an empowerment deal with Community Investment Holdings in 2003.
"Our efforts have resulted in the highest scores being achieved in BEE management, skills development and operational capacity," says Jasco CEO Dr Stuart Robertson.
Going forward, Robertson says the group will focus on continuing to improve affirmative procurement and skills training, while also increasing expenditure on enterprise and social development.
Jasco also issued its 2005 annual report today.
Non-executive chairman Dr Anna Mokgokong comments that SA`s strong economic environment has positioned Jasco for growth, with real per capita income expected to continue rising by at least 30% in the next 10 years.
"All three of our divisions, telecommunications, manufacturing and security, are set to tap into this growth, especially from the planned expenditure of the country and the continent`s infrastructure," she says.
Robertson adds that all the group`s operating divisions are now profitable, with experienced management and improved operational efficiencies.
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