Print   |   Bookmark   |   Enlarge text    |   Reduce text   |   Downloads

• › The Chief Executive
• › Group Executive: Corporate Affairs
• › The Founder and Chairman of Altron
• › The Group Company Chief Executive Officers

• › Introduction
• › Code 100 – Ownership
• › Code 200 – Board and Management Control
• › Code 300 – Employment Equity
• › Code 400 – Skills Development
• › Code 500 – Preferential Procurement
• › Code 600 – Enterprise Development
• › Code 700 – CSI or Socio-Economic Development (SED)

GROUP STRUCTURE     TRANSFORMATION FOR THE FUTURE     MESSAGES FROM:

---

BBBEE GROUP STRUCTURE     BBBEE PARTNERSHIPS     KEY DEFINITIONS     BBBEE GUIDELINES:     CONFERENCE RESOLUTIONS     CONFERENCE DECLARATION

 

1. Introduction

The BBBEE Codes of Good Practice (CoGP) have been gazetted on 9 February 2007. There may be certain matters which will be clarified in their interpretation through the issue of Practice Notes by the dti, but the general principles have been agreed.

The Altron Group is mindful of its BBBEE compliance obligations as well as its equally important obligations to all stakeholders to unlock value through BBBEE.

These guidelines have been formulated to provide practical guidance to all implementers and other decision-makers within the Altron Group to ensure that all elements of BBBEE, which the Group collectively deems to be priorities, are dealt with in a consistent manner throughout all Group entities.

2. General

• The task of transformation of a business entity is the responsibility of the managing directors and EXCO of each business entity who are ultimately accountable for the transformation of that business. The EXCO of each business entity will report on the current status of transformation and the proposed plans and actions on a monthly basis in the normal monthly management review.
• At the strategic level the MD and the operational EXCO will determine what score the Company should obtain, clarify and reach agreement with the subholding CEO and the board, and budget and plan to achieve the required score.
• Any employee incentive scheme must provide for a portion of the performance bonus at MD and operational EXCO level to be allocated to achieving the required score.
• Altron companies will strive to be between level 3 and level 1 BEE contributors by 2012.
• A member of the operational EXCO will be formally appointed by the MD as the business transformation champion, and he/she will coordinate the Company transformation process, and also monitor and report on Company progress. In general, the task of the transformation champion will be in addition to other day-to-day tasks and he/she will report to the managing director.
• The transformation champion is empowered to direct and coordinate all empowerment initiatives. For example, all non-BBBEE recruitment will be authorised by the transformation champion and the MD.
• The transformation champion will be selected because of ability and passion in this area.
• This is a senior position. The transformation champion will represent his/her company on a broader subholding group transformation committee, and also from time to time will attend Altron Group presentations.
• The CEO of the subholding group should appoint a group transformation champion who will direct that strategic transformation focus, coordinate and plan the BBBEE activities of the subholding group.
• This position will involve the effective allocation of company funds in order to obtain the desired rating for the subholding group as a whole.
• The subholding group transformation champion will sit on the Altron transformation committee. The Altron transformation committee advises and reports to the Altron EXCO and board on transformation matters.
• The subholding group transformation champion will run the subholding group transformation committee who will coordinate and plan the activities of the subholding group as a whole. For example, the subholding group transformation committee can propose to combine and coordinate funds in order to achieve common subholding group transformation goals in training, enterprise development or socioeconomic development. In this position the subholding group transformation champion will report to the CEO and coordinate transformation information for reporting to the subholding board.
• The subholding group transformation champion will ensure compliance with the codes and policy, coordinate the verification and rating process, and will flag activities that need management’s attention.
• This position is also strategic. It will involve obtaining company approvals and direction when setting broad BBBEE policy.
• The subholding group transformation champion will propose certain broad company direction such as the level of the Company rating in terms of the dti guidelines on complex structures.
• The subholding group transformation champion will advise company management and will be a member of the Altron transformation committee which assists in advising the Altron board on current and future BBBEE matters.
• The subholding group transformation champion will represent the Company at various forums, and will be required to develop a network at the dti, Department of Labour, Department of Communications, Sector Education and Training Authority, and the various industry transformation forums in conjunction with the Group Executive: Corporate Affairs at Altron.