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BBBEE and transformation

Focusing on broad-based growth

 

We want to achieve more than simply financial returns. As a South African business, we realise that the socio-economic challenges facing the country are immense and we are committed to being a responsible and active corporate citizen.

We seek to create long-lasting, robust and broad-based benefit for the broader South African society. We believe that by empowering South Africans through education, we can go a long way towards overcoming the barriers to transformation and, at the same time, create the skills that the country needs.
 


The trust, which has been structured as a capital-preserving trust, will continue in perpetuity. Its primary focus is on activities to improve education and training through the provision of scholarships, bursaries and community development programmes. The trust operates independently and is managed by external independent trustees.
 

Focusing on BBBEE

We are committed to the objectives of Broad-Based Black Economic Empowerment (BEE) and we endeavour to explicitly integrate the tenets in our business. The revised property sector codes were promulgated during June 2017. Certain new elements were significantly increased. We have made meaningful organisational changes to embrace the spirit of BBBEE, including forming a BBBEE committee. We are pleased to have received a level 3 rating in 2018, up from the level 4 achieved in 2017. It remains a priority to improve our compliance with the codes.

 

BEE scorecard
  2018 2017
Ownership 30.96 26.30
Management central 3.00 2.60
Employment equity 2.39 2.47
Skills development 18.65 16.48
Enterprise & supplier development 29.89 27.01
Socio-economic development 2.00 0.29
Economic development 5.00 5.00
Overall score 91.87 80.16
BEE contributer level 3.00 4.00


Level three (3) contributor

Redefine has been rated against the B-BBEE codes of good practice published by the Department of Trade and Industry and has achieved a Level three (3) contributor status. We are committed to the objectives of Broad Based Black Economic Empowerment (BBBEE) and we endeavour to explicitly integrate the principles in our business. We have made meaningful organisational changes to embrace the spirit of BBBEE, including forming a BEE committee that will continue to track and measure our metrics. It remains a priority to improve our compliance with the codes.

Redefine BBBEE Certificate:
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