Massmart achieves top employment equity ranking in leading empowerment survey
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Massmart Holdings is the retail sector’s top Employment Equity performer and holds its own among South Africa’s top EE achievers – the group was ranked sixth overall in this important empowerment category, according to the Financial Mail’s Top Empowerment Companies Survey 2010.
The survey, which relies on voluntary data submissions, ranks 100 JSE-listed companies according to their empowerment scores.
Massmart’s EE score of 11, 49 points was 4, 89 points higher than that of the second ranked retailer and reflects the group’s focus on the Employment Equity dimension of their BBBEE scorecard.
Massmart Human Capital Executive Pearl Maposhe attributes their strong performance to a significantly increased emphasis on initiatives aimed at developing black management talent from within the organization, such as the Massmart Graduate Development Programme.
Massmart recently achieved a Level Four Broad Based Black Economic Empowerment (BBBEE) contributor status. In terms of the FM survey, it was ranked second in the retail sector, with an overall score of 66.14%, a few points behind the score of 69.68% achieved by the top performer in the industry.