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Broad-Based Black Economic Empowerment (B-BBEE) aims at substantially increasing black participation at all levels in the economy. The goal of this strategic imperative is to address the imbalances of the past by transferring more ownership, management and control of South Africa’s financial and economic resources to the majority of its citizens. It also focuses on broadening and improving meaningful black participation in the economy.
Pool Transport views B-BBEE as a vital component of the broader transformation imperative in South Africa. We believe the foundation of sustainable business is to understand the current business environment, to recognise the forces that shape the behaviour of customers and to lead our employees in the effective utilisation of resources in the creation of sustainable value.
Pool Transport ensures that our initiatives are implemented with integrity and enthusiasm at all levels throughout the organisation. Pool Transport B-BBEE strategy and action plan is aligned with its business strategy. The progress of transformation is subject to annual reviews.
Pool Transport B-BBEE scorecard is based on seven pillars:
- Equity / Ownership
- Management and Control
- Employment Equity
- Skills Development
- Preferential Procurement
- Enterprise Development
- Socio-economic Development
Pool Transport recognises the importance of a multi-faceted, broad based and integrated approach to Black Economic Empowerment (BEE) in the transformation of the macro socio economic space where it is active, as well as for the long-term sustainability of these B-BBEE initiatives. These are essential ingredients in ensuring continued stability and prosperity. In this context,
Pool Transport has developed its B-BBEE policy based on the following principles:
- Pool Transport recognises its responsibility towards their shareholders, both B-BBEE stakeholders and others, and that any B-BBEE initiative must remain cognisant of the sustainable economic growth of Pool Transport.
- An inclusive approach to B-BBEE, which is broad-based and deliberately advances previously disadvantaged communities, ensuring that the benefits are spread as widely as possible. This, however will not stifle economic contribution by individual entrepreneurs.
- The empowerment of Pool Transport own employees and their families remains a priority. However, being a responsible corporate citizen, the company has a role to play in the empowerment, economic development and social upliftment of the broader community where these employee and their families live.
- In advancing B-BBEE, Pool Transport ensures at all times, that there is a positive net effect on its business interests to ensure the sustainability of its efforts.
Human resources, development and skills transfer remain critical components for sustainable B-BBEE and are entertained as to be the key ingredients in the success of our B-BBEE programme.