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Massmart achieves level five BBBEE rating

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Massmart Holdings has achieved a Level Five Broad Based Black Economic Empowerment (BBBEE) contributor status from ratings agency Empowerdex, following a comprehensive audit of the Group’s BBBEE performance.

This means that Massmart’s corporate customers can recognise 80% of the value of their purchases at the group’s wholesale and retail chains in the calculation of their own scorecards.

“We are extremely satisfied by this result, which was obtained with the participation of the majority of our top suppliers, who made their verified BBBEE certificates available to us. Just as their performance has helped our own scorecard, we can do the same for our corporate customers,” says Massmart CEO Grant Pattison.

“We have been lobbying our suppliers consistently to get them to focus on BBBEE and we are pleased that our persistence has been rewarded,” says Pattison.

“Empowerdex is proud to announce the BBBEE rating for Massmart. Attaining a level five contributor status is no mean feat for a company of this size with so many employees. It is a testament to their internal controls and social projects that they were able to attain such a score. Based on what we witnessed on-site, we are confident that they will be able to surpass the level five status” says Lerato Ramotsa MD of Empowerdex.

Massmart had set out to achieve the rating by June 2009, so it delivered on its commitment a year earlier than expected. The group aims to achieve a Level 4 contributor status by June 2011.

ENDS

Media release issued by:

Brunswick Group LLP – 011 502 7300
Zayd Nakwa
082 801 8621
Julia Scheffer
082 802 4265

Media queries should be addressed to:

Brian Leroni
Group Corporate Affairs Executive
Massmart Holding Ltd
011 517 0000

Notes to Editors:

Massmart is a managed portfolio of nine wholesale and retail chains, and one buying group, each focused on high-volume, low-margin, low-cost distribution of mainly branded consumer goods for cash.

The Group operates in 14 countries in sub-Saharan Africa through four divisions comprising 243 stores and 574 buying Group members.

Massmart’s wholesale and retail brands enjoy high recognition and include Makro, Game, Dion Wired, Builders Warehouse, Builders Express, Builders Trade Depot, CBW, Jumbo Cash and Carry and the Shield buying group.

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