Engen Petroleum Limited and BEE
Posted by Daniel Makhura on 17 October 2017 2:50 PM SAST
Information about the above
In line with our Supply Chain Transformation plan, we invested
in three Fund Management Companies, in order to implement
effective and sustainable Supplier Development and Enterprise
Key to the implementation of our ESD initiatives is the integration
and support of small and medium businesses that are already doing
business with us. This is to ensure that there is increased capacity
for the delivery of high quality service to Engen. The B-BBEE codes
require the absorption of ESD beneficiaries into the company value
chain with quantifiable proof that these beneficiaries are being
effectively utilised to deliver services.
We also implemented more stringent rules in the procurement area.
These included engagement with suppliers to understand their
transformation plans. Such plans were integrated and made part of
contractual obligations where tenders were awarded. Furthermore,
our tender board took into consideration the B-BBEE performance
of vendors and their levels of Black ownership and Black female
ownership when considering awarding tenders.
2017 B-BBEE Performance (FYE 2016)
Our efforts to improve our B-BBEE status have been positive.
Following the conclusion of a share ownership deal with a
Phembani-led consortium in early 2017, we have improved our
score to a Level 2 contributor.