Black economic empowerment  »  Bidvest charter

Bidvest charter

 

In November 2003, The Bidvest Group Limited developed the Bidvest Charter, the framework for BEE implementation, across The Bidvest Group Limited in Southern Africa. Its provisions are reviewed regularly to align these commitments with the ever-evolving requirements of BEE policy. Accordingly, the Bidvest Charter has been applied on the same basis to Bidvest Namibia. The Charter reflects The Bidvest Group Limited’s BEE vision for the next 5 to 10 years and sets down The Bidvest Group Limited’s conviction that:
  • BEE is a national, social, economic and business imperative;
  • All stakeholders in SA and Namibia should voluntarily adopt BEE processes to ensure social
    and economic transformation, thereby fostering economic growth and stability;
  • Empowerment should not be determined by percentages alone, but by the monetary value of
    BEE projects, the wealth created, the resultant educational initiatives that result and the skills that
    are acquired and developed.

The Charter works in tandem with a balanced BEE scorecard to enable all contributors in The Bidvest Group Limited to set realistic targets and measure practical progress. Charter signatories commit The Bidvest Group Limited in South Africa to the pursuit of BEE objectives in the seven key areas identified in the broad-based black economic empowerment guidelines and codes of good practice as published by the Department of Trade and Industry in South Africa. These parameters are used as a guideline in the absence of Namibian BEE laws and charters and will be adapted to comply with Namibian developments as they arise.

Charter signatories represent The Bidvest Group Limited Board, the executives of The Bidvest Group Limited and the management of The Bidvest Group Limited subsidiaries. The document is seen as complementary to the industry charters currently in formulation or development, and on occasion may even have encouraged and led the BEE process within some of the industries in which Bidvest subsidiaries operate.

The Bidvest Charter defines a vision and commitment to economic transformation to which all subsidiaries and stakeholders can commit while adhering to their own sector-specific charters.