As per the Department of Trade and Industry, South Africa’s first democratic government was elected in 1994, with a clear mandate to redress the inequalities of the past in every sphere: political, social and economic. Since then, government has embarked on a comprehensive programme to provide a legislative framework for the transformation of South Africa’s economy. In 2003, the Broad-Based Black Economic Empowerment (B-BBEE) Strategy was published as a precursor to the B-BBEE Act, No. 53 of 2003. The fundamental objective of the Act is to advance economic transformation and enhance the economic participation of black people in the South African economy. On 1 May 2015 the new B-BBBE legislation came into effect in terms of revised generic Codes of Good Practice. These new codes require companies to fundamentally change the way in which it does business.
In line with the legislative objectives of South Africa, RubberChem has adopted a transformation strategy within its own business. RubberChem further appreciates the significance and benefits that B-BBEE has to offer and are proudly a Level 2 fully empowered B-BBEE company.
We at RubberChem understand the positive effects that our rating has for both our international principals and local customers and can assist customers in determining their potential preferential procurement spend.