Software development company MagmaTec has been awarded a Level 1 BEE rating by Empowerdex, the highest BEE rating achievable, providing clients with 135% BEE procurement recognition.
On receiving the official certificate, Stuart Phillips, MD of MagmaTec, said: “MagmaTec has proved that, even in the ICT sector where skills are scarce, it is possible to achieve meaningful transformation. This achievement demonstrates that transformation is not an inhibitor to building a competitive and sustainable organisation in the ICT sector. In fact, we have found the opposite to be true.”
MagmaTec was started in 1998 and has since experienced significant growth in size, clients and value offering. With offices in Johannesburg and Cape Town, the current staff complement of over 70 staff offer a range of systems development, integration, support and consulting services to blue-chip financial services clients, among them, Momentum, Old Mutual, Discovery, Sanlam, FirstRand, Metropolitan, Liberty and JP Morgan.
“Since inception, MagmaTec has had transformation as a key objective. While many companies view BEE as an additional overhead imposed on South African companies, we have embraced transformation as a way of operating. When the new BEE legislation was promulgated in 2007, we were already favourably aligned to achieve high results within the various contributing pillars. Only slight policy changes were made to put us on track to achieve a Level 1 ranking,” comments Teresia Arendse, HR Director of MagmaTec. “In addition to providing our clients with a significant BEE procurement advantage, a real benefit of the rating is that it provides a source of pride and achievement for our staff. We hope that our achievement will show other players in the ICT sector that with the correct policies and planning, it is possible to achieve such a high ranking.”
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