COMMITMENTS AND PROGRESS
| Commitment | 2010 | 2009 | By 2012 |
|---|---|---|---|
| Overall BEE level | Level 5 (56.93) | Level 6 (46.5) | Level 4 (65+) |
| Equity ownership | 3.57 | 4.7 | 6.5 |
| Management control | 9.03 | 7.3 | 8 |
| Employment Equity | 10.59 | 9.8 | 11 |
| Skills development | 10.25 | 7.7. | 15 |
| Preferential procurement | 10.44 | 5.7 | 13 |
| Enterprise development | 8.05 | 6.3 | 11 |
| Socio-economic development | 5 | 5 | 5 |
| Total CSI contribution | R314m | R292m | R300m |
| Surplus product distributed | R283m | R262m | N/A |
| Educators benefiting from the Eduplant programme | 8000 | 5000 | N/A |
The transformation pillar of the Good business journey embraces the dti’s broad-based black economic empowerment (BBBEE) scorecard framework, including: equity ownership, management control, employment equity, skills development, preferential procurement, enterprise development and socio-economic development. BBBEE is overlaid on the Woolworths strategy to ensure meaningful and sustainable empowerment endeavours. To enable the implementation of BBBEE, Woolworths took an integrated and multi-pronged approach to shifting the organisational culture, mainly driven by change leadership initiatives.
The Board transformation committee assists the Board in ensuring that there are appropriate strategies, policies and processes in place in order to drive transformation.
BEE Verification Agency CC was appointed as the company’s verification agency for the 2010 financial year. Through the external assurance received from the agency, we have achieved a 56.93% score, a level 5 achievement, improving from 46.5% in June 2009.
Details on the individual sections of the BEE scorecard follow below.