Media 24 and BEE
Posted by Daniel Makhura on 23 October 2017 4:00 PM SAST
Information about the above
Released: May 6 2015
Media24 has significantly increased its broad-based black economic empowerment (B-BBEE) scorecard from 77.98 to 80.55, the company said in a statement.
It has retained its level 3 status with a total procurement recognition level of 137.5%. It is the highest score ever achieved by the SA print media company.
The improved 2015 BEE scorecard was announced after an external audit was completed.
"We are extremely proud of this achievement. We take transformation very seriously and the improvement of our scorecard over the years is evidence of our commitment,” said Media24 CEO Esmaré Weideman.
The company also obtained full points for ownership, management and control and enterprise development elements. Its management and control score improved from 8.75 to 9.27.
The preferential procurement improved from 17.41 to 18.12, employment equity improved from 2.40 to 2.56, and skills development improved from 9.42 to 10.60.
According to Anika Ebrahim, Media 24's head of communication, the increase in the skills development score is largely due to Media 24's Apex Programme.
"In addition to the on-going internal training and bursaries that we have continued to offer to our staff across various disciplines and the bursaries and internships that we have offered to graduates, we have invested significantly in the Apex programme, which launched in April 2014," Ebrahim told Fin24.
Apex Future Leaders is a two-year executive management programme that was created to drive transformation at management level.
Launched in April 2014 in partnership with Duke Corporate Education for the first year and UCT’s Graduate School of Business for the second year, the programme combines academic training with practical assignments and six-month stints in Media24's print and digital publishing divisions.
Six talented black managers (five women and one man) are currently being fast-tracked for management positions and will complete their programme in March 2016.
The company has black ownership of 45.82% and retains its status as a value-adding supplier.