Clear targets define transformation drive

Thembi Kunene leads the charge JOY ORLEK AS MORE and more companies recognise the social and business imperative of embracing black economic empowerment, its meaning is yet to be clearly and universally defined. There is however consensus on one issue - the shift from equity to the balanced scorecard. “It’s clear that there is now a far more holistic approach,” says Safcor Panalpina managing director Pete Williams, “and the recent 15% acquisition by Dinatla in holding company Bidvest adds significant muscle to the company’s BEE status.” Thembi Kunene has been brought on board as a commercial director of Bidfreight and sits on the boards of certain subsidiaries, including Safcor Panalpina, to help drive the initiative. And she is upbeat about the benefits that Dinatla brings to the company. “The 15% shareholding, currently valued in excess of R2,1 billion, translates to 25% of the local interests, and that’s significant,” says Kunene. Dinatla is a broad-based empowerment entity owned by a consortium of prominent entrepreneurial black-owned businesses with national representation and a trust for the benefit of Bidvest HDI employees “What makes the deal unique is that it is a true partnership with ways of assisting Bidvest to ensure that there is true transformation throughout the company and all its subsidiaries. “When it comes to BEE procurement and enterprise development, preference will be given to Dinatla so that it will get direct economic benefit from the deal.” At Safcor Panalpina, much has already been achieved in its transformation drive. “In terms of employment equity, we know where the gaps are and are taking steps to address them,” says Kunene. “Bidvest is also in the process of finalising its own charter with its own scorecard which means that it has its own very clear targets, developed independently of any industry charters. There is therefore immediate direction within the company in terms of employment equity, enterprise development and the like.” But as the company moves forward in its BEE strategy, there is one principle underpinning the entire process. “Transformation must be achieved in a sustainable way and that means no compromise of business standards.” Kunene believes the most immediate challenge involves finding the appropriate skills pools. “The processes and systems at Bidvest to fast track upskilling are robust, and in the long term we believe this will help to build loyalty.” Underscoring the critical importance of BEE, marketing and sales director Bruce Thoresson points out that it’s rare to receive a tender document without some BEE stipulation. And while Bidvest has a way to go to achieve its objectives in this arena, it has already been rated by EmpowerDEX as a ‘Black Influenced Company’. “In addition, as Safcor Panalpina, we’ve been accredited by Eskom,” says Williams, “which probably has one of the most stringent scorecards, a clear indication that we’re headed in the right direction.”