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Ricoh SA's BEE drive takes shape

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 17 Aug 2017
Jacques van Wyk, COO of Ricoh SA.
Jacques van Wyk, COO of Ricoh SA.

Ricoh SA, formerly wholly owned by Ricoh Europe, has implemented a black ownership structure that achieves 52.4% black and black women ownership.

The printing and imaging company says this transformative ownership structure that empowers South Africans demonstrates its belief in the South African and African markets as a business destination and signals its commitment to its network of local partners.

Ricoh SA runs under Jacques van Wyk, the COO, who reports to the CEO of Ricoh's Emerging Markets Group.

Last year, the Department of Trade and Industry gazetted the amended B-BBEE ICT Sector Code. Under the code, ICT companies are required to comply with new generic codes set out in the amended broad-based black economic empowerment (B-BBEE) ICT Sector Code.

"Our new structure is the result of 18 months of dedication towards a representative shareholding and the sustainable development of previously disadvantaged communities," says Van Wyk.

"We have appointed a permanent transformation executive as part of our commitment to further transform the business, who will manage our ongoing effort to maintain and improve the broad-based black economic empowerment scorecard and transformation activities."

Ricoh's level four status is under the revised codes of the ICT Sector Scorecard and the company claims it is one of only a handful in its market to have achieved its rating under the revised ICT sector codes.

Ricoh SA's empowerment and ownership structure partners the organisation with Phakamani Foundation and Support Teacher Empowerment Trust (STET).

Phakamani Foundation is a public benefit organisation that empowers poor rural women to succeed in their own micro-enterprises. The organisation provides an integrated programme of training micro-entrepreneurs to save to support their own micro-enterprises.

The STET beneficiaries are black South African teachers and trainee teachers. The organisation grants bursaries and training for students to study teaching as well as qualified teachers to further their studies.

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