BEE: Growthpoint Properties Sets New BBEEE Benchmark
Recent Gauteng Business News
Growthpoint Properties Limited’s Broad-Based Black Economic Empowerment (BEE) continues to lead the listed property sector.
Already recognised as the top empowered company of the listed property sector for the fourth year running in 2010, Growthpoint Properties’ most recent rating has further increased, as confirmed by certified South African National Accreditation System (SANAS) verification agency Honeycomb BEE Ratings last month.
Growthpoint Properties enhanced its Level Three Property Sector Charter rating to a new Level Two rating with a 125% BEE Procurement Recognition Level. This empowerment rating is based on the Growthpoint’s consistent commitment to the seven pillars of the Property Sector Transformation Charter scorecard, including ownership, control, employment equity, preferential procurement, skills development, social responsibility and enterprise development.
It also elevated its previous Level Five BEE Contributor rating for 2008/2009 in terms of the Department of Trade and Industries (DTI) scorecard, to a Level Three Contributor rating with a 110% BEE Procurement Recognition Level for 2009/2010.
“As the biggest listed property company, Growthpoint’s ratings benchmark best practice in this South African sector and demonstrates our commitment to the principles and objectives of empowerment,” says Norbert Sasse, CEO of Growthpoint Properties Limited. “Growthpoint’s BEE programme is far-reaching and broad based, serving to benefit a considerable number of previously disadvantaged individuals.”
Business News Sector Tags: Property| BBBEE|