BEE: Liebherr-Africa Pledges Complete Commitment to BEE
Recent Gauteng Business News
Liebherr-Africa is thrilled to announce that it has been granted an Equity Equivalent (EE) approval by the Department of Trade and Industry (the dti). Significantly, this is only the second multinational company in South Africa to have achieved this highly sought-after approval.
As the Liebherr Group is a 100% family owned group of companies, it has a global policy of not selling any shares. Liebherr-Africa embraces the BEE policy and is therefore grateful that multinationals are given an option of participating in the South African economy, by way of an Equity Equivalence.
Liebherr began the EE application in September 2007. Working in close conjunction with the dti's EE team, who willingly supplied their expertise and advice, over a three year period Liebherr attended various briefings and submitted diverse proposals, plans and documents justifying our application.
Dieter Schmid, financial director at Liebherr-Africa, comments: "Due to the critical shortage of skilled technical artisans in South Africa, we felt that by channelling our EE investment into the technical training of previously disadvantaged individuals (PDI's), Liebherr would benefit the Company and the industry as a whole".
He explains how this was achieved, as Liebherr's primary function is not training: "We have entered into a 7 year, training agreement worth approximately R30 million with black-owned Ikhaya Fundisa Techniskills Academy (IFTA). This partnership is known as the Liebherr Training Academy, through which we have committed to train 75 - 80 artisans per year."
The Liebherr Training Academy is located on the corner of Main Reef and Dobsonville Roads in Roodepoort, Gauteng near the Dobsonville Township, and seeks to be the leading, principle-driven centre of excellence, through the provision of artisan and related training, to proudly contribute substantially to the upliftment of Southern Africa. It is their mission to become the partner of choice to the SETA's and industry, providing the finest quality technical skills training in Southern Africa.
Liebherr-Africa's dedication to the long, and sometimes difficult EE process has finally born fruit, as the Company is now entitled to twenty points recognition under the Ownership Element of the B-BBEE codes of Good practice. The new updated BEE scorecard will be available shortly.
Business News Sector Tags: BBBEE|