The UItenhage based Volkswagen Group South Africa has retained its Level 4 B-BBEE rating, and become the first motor company in SA to be awarded this level in 2011.
This achievement equates to a 100% recognition level, which means that for each rand that a client spends on VWSA, 100 cents will count towards Broad-Based Black Economic Empowerment (B-BBEE) procurement on that client’s B-BBEE scorecard. “This achievement cements the Company’s position as the benchmark for B-BBEE in the automotive sector for the 2010/11 financial year,” said Volkswagen Group South Africa Managing Director, David Powels.
B-BBEE is aimed at redressing the imbalances of the past and promoting access to opportunity, resulting in economic growth through inclusion. Companies are verified retrospectively based on its year-end figures, so the verification process which took earlier this year verified the Company’s 2010 achievement.
B-BBEE is not only a policy of Government; it is a Volkswagen Group South Africa corporate policy. “This is the fourth successive year in which VWSA has undergone a B-BBEE verification audit and in that time we have improved our rating from Level 8 to Level 4. We first achieved Level 4 contributory status last year and have since sustained and strengthened gains made in 2009 and retained that status in 2010,” said Powels.
“For VWSA, transformation is and always has been a comprehensive and holistic process. Not only is Volkswagen Group South Africa a leader in B-BBEE, but also in terms of investment in plant, product, people and skills development in South Africa,” Powels continued.
Having invested more than R5 billion in South Africa over the past five years and growing locally manufactured content to in excess of 70%, Volkswagen Group South Africa continues to contribute significantly to the growth of the automotive manufacturing sector in South Africa. Added to that, the Company is the largest private sector employee in Nelson Mandela Bay with over 5 000 employees – to whom a structured health and wellness programme as well as continuous training is readily available.
“These gains have been achieved through intense focus and a strong commitment to both the spirit and letter of meaningful transformation over many years in an attempt to create a better future for all, and which speaks to our strategy of being the most fascinating automotive group in South Arica,” Powels concluded.
