Bidcorp, as a JSE listed company, is committed to transformation and the building of a sustainable South African economy.
Though the board holds ultimate transformation responsibility, the social and ethics committee drives legislative compliance, implemented independently through each business in South Africa.
B-BBEE criteria are periodically adjusted, these revised codes make it imperative that work is stepped-up to achieve. The legislation aims to encourage economic transformation, the development of black-owned businesses, the employment of black people and the nurturing of a new wave of senior black executives.
In 2018, the board sent an unmistakable signal that diversity is a strategic imperative through the roll-out of a board policy on the promotion of gender and race diversity. Within it, the policy states “preferred consideration” shall be given to black and/ or female directors when places on the board are filled, giving due regard to skills and experience.
Revised codes give strong weighting to black supplier development through preferential procurement. People development is supported by substantial training investment and in 2018 a growing number of black employee candidates were prepared for higher responsibility. These initiatives have significantly contributed to our succession planning efforts and material improvements in the workforce diversity.
Socio-economic Development remain an area that the businesses score maximum points, with their efforts in these areas far exceeding the expectations of the B-BBEE scorecard.
This is work in progress and a priority for Bidcorp.
In 2018, our sustained transformational efforts have been recognised in the material improvements of the revised ratings.
Bidfood has maintained a Level 4 rating, through continued succession planning efforts, coupled with extensive skills development activities. The Preferential Procurement score remains the biggest challenge. Great gains were recorded in the B-BBEE levels of some key suppliers, largely eroded however by negative movement on other supplier scorecards.
Crown Food Group is pleased with the improved Level 6 rating, reflective of the exceptional efforts invested. Crown Food Group has more than doubled its score on Management and Control, as well as achieving in the Skills Development rating. Crown Food Group’s ESD score has markedly improved, resulting in the much-improved overall rating.
Following the Puratos JV, Chipkins Puratos has moved to a December financial year-end, realigning the rating period accordingly. The 2018 rating will follow post year-end.
Bid Corporation Ltd, the group has achieved an improved Level 4 rating. This is largely due to Crown Food Group’s material score improvements, drawing the consolidated rating up.
Bidcorp’s goal remains the implementation of long-term programmes and commercially impactful solutions beneficial to our stakeholders, and well-positioned for continued business growth.