Speer Managing Director, Jaco Strydom, announced that the company has successfully concluded Phase 1 of its internal black economic empowerment (BEE) strategy. This entailed incorporating the Equity Ownership Pillar of the ICT Empowerment Charter into their business strategy.
The conclusion of Phase 1 marks the second year of the company's progress towards full compliance with the charter.
The Equity Ownership Pillar is based on percentage share of economic benefits as reflected by direct shareholding in a company by black people and youth. The completion of this first phase has secured the company a rating by EmpowerDEX - the country's first BEE ratings agency.
Speer's targeted BEE strategy, which the company has been implementing over the past two years, aims to address all the pillars of the Charter. This process continues with the company having now embarked on Phase 2, which will address the pillar of Management and Control.
For more information please visit Web www.speer.co.za
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