Corporate Traveller (part of FCTG Corporate (Pty) Ltd) achieves Level 1 BEE rating three years in a row.
“As an Australian-listed company, this is a huge milestone for Corporate Traveller. This will continue to give the travel management company the competitive edge in market. We offer clients the advantage of working with the most experienced travel team while at the same time reaping the procurement benefits of working with a Level 1 BEE supplier,” says Bonnie Smith, Director Corporate Traveller.
“There are no secrets,” adds Smith. “The only way to achieve Level 1 BEE compliance is by focussing on empowerment in all its different facets. The importance of understanding BEE compliance lies in being able to interpret the value. As a group, we believe in the BEE vision and transformation goals, and we are committed to empowering our staff at FCTG Corporate through broad-based initiatives.”
To achieve transformation, FCTG Corporate created a broad-based black economic empowerment plan and set up an AICC female trust. The trust affords female staff from AICC backgrounds who have worked for FCTG for a minimum of 12 months the opportunity to earn annual dividends on the trust's shares.
“I am proud to announce that after a strong year for the Corporate Brands we have paid over a million rand worth of dividends to the 215 eligible female employees,” says Smith. “This aligns with our overall company philosophy of ‘our people’ and also our strategy to broadly impact our people's prosperity.”
Frequently asked questions
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What is Level 1 B-BBEE?
Broad-Based Black Economic Empowerment (BBBEE) is a South African policy that aims to increase black participation in the economy. It operates by offering preferential treatment to companies that demonstrate strong black representation in ownership and management, as well as robust policies for socio-economic development, skills enhancement, and supplier diversity. This preferential status enhances a company's competitiveness when bidding for large contracts, particularly in the public sector.
Companies are evaluated using a BBBEE scorecard, which assesses performance across five key elements: ownership, management control, skills development, enterprise and supplier development, and socio-economic development. Points are awarded for each of these criteria, and the total score determines the company's BBBEE level or non-compliance status.
The Broad-Based Black Economic Empowerment Commission oversees this process, utilising the Codes of Good Practice to measure and score companies on these five elements. The highest achievement in this system is Level 1 B-BBEE (or Level 1 BEE as it is sometimes referred to) status, which is awarded to businesses that score 100 points or more on the scorecard. This top-tier status indicates the highest level of compliance with South Africa's black economic empowerment standards.
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Why choose a Level 1 B-BBEE travel management company?
Choosing a Level 1 B-BBEE travel management company offers significant benefits. For every R1.00 you spend with them, you can claim R1.35 on your own B-BBEE scorecard. This helps improve your company's B-BBEE compliance and can make your business more competitive in South Africa.
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What's the purpose of a B-BBEE certificate?
A B-BBEE certificate shows a company's compliance with South Africa's B-BBEE Act and is often required for government tenders and contracts. A higher B-BBEE rating can lead to more business opportunities and can help attract investors interested in socially responsible companies. Ultimately, it verifies a company's contribution to economic transformation in South Africa.