Massmart achieves level four BBBEEE rating
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The Massmart Group of companies has achieved a Level Four Broad Based Black Economic Empowerment (BBBEE) contributor status, two years earlier than planned. Massmart achieved a score of 66.14% from ratings agency Empowerdex, following a comprehensive audit of the Group’s BBBEE performance.
This is substantially higher than last year’s score of 55.67% when the group obtained Level Five status. There has been steady growth in Massmart’s empowerment performance since its June 2007 score of 49.77%.
The achievement came as a result of an increased focus on Employment Equity, where scores increased from 9.2% to 11.4%; Skills Development, which climbed from 6.67% to 10.36% and Preferential Procurement, which increased from 8% to 12.17%.
Massmart CEO Grant Pattison said: “We are passionate advocates of the BBBEE codes of good practice and I am very pleased with the progress that the Group has made in implementing them in our business.”