Business in South Africa has to absorb the ethos of transformation into its organisational DNA to ensure sustainability. Spur Corporation regards transformation as a journey that is less about meeting regulatory benchmarks and more about creating a company that is a true reflection of South Africa as a community. Our transformation strategy supports upliftment of historically disadvantaged individuals.
As anticipated, the group’s Broad-based Black Economic Empowerment (B-BBEE) performance declined from a level 5 contributor previously to non-compliant under the revised Department of Trade and Industry Codes of Good Practice, as verified by Empowerdex on 12 December 2016. We remain committed to identifying ways to improve our B-BBEE performance over time and we will continue to seek opportunities to support initiatives that will improve transformation in our franchisee base.
Spur Corporation supports the principles of transformation and B-BBEE. Progress is measured against the following categories:
- Management control
- Skills development
- Enterprise and supplier development
- Socio-economic development