ELVEY AWARDED LEVEL FOUR BBBEE RATING
04 January 2010
Despite 2009 having been one of the world’s most financially damaging, it brought with it growth and development opportunities for companies that, properly utilized, will pay dividends throughout the eagerly-awaited 2010 and beyond.
That was the motivation behind Elvey Security Technologies’ decision to further enhance its Broad-Based Black Economic Empowerment (BBBEE) status at a time when many other businesses were focused on licking their fiscal wounds, explained Elvey CEO Jack Edery.
As a result of Elvey’s commitment to sound corporate governance and genuine empowerment, Mr. Edery said the DTI (Department of Trade and Industry) had raised the company’s BBBEE scorecard status from a level 6 to a level 4 contribution level, in line with South Africa’s Broad-Based Black Economic Empowerment Act. “The DTI found in our interim audit, where companies are rated according to a black ownership flow-through principle, that Elvey’s level of black ownership had risen to 23%,” he explained. “This, along with other significant contributors such as our preferential procurement policy and our commitment to enterprise development and socio-economic development at every level, ensured the elevation of our score. He continued: “Our company believes that true transformation goes beyond a scorecard and into the field of making a real difference to the lives of all our customers, staff and stakeholders”. This proud achievement reflects our successful pursuit of our goals while simultaneously illustrating our ongoing commitment to transformation and economic growth in all our operations throughout South Africa.”