BLACK ECONOMIC EMPOWERMENT
Transformation will help turn the wheels of automotive sector
When the word "transformation" is mentioned, the first thought for many is of a broad-based black economic empowerment (BBBEE) scorecard. But meaningful transformation is far more significant and powerful than an organisation ticking off compliance checkboxes to avoid penalties and secure contracts. It is an opportunity for companies, especially within the automotive industry, to play a greater role in the overall development of SA. To be the "empowering supplier" mentioned so prominently in BBBEE codes of practice. When Trade and Industry Minister Rob Davies spoke in 2017 at the National Association of Automotive Component and Allied Manufacturers (Naacam) event about transformation of the automotive industry being nonnegotiable, there were no doubt some concerns, even if that pushback occurred at the psychological level. No one enjoys feeling threatened, particularly if settled in current business practices. Similarly, implementing value-adding and sustainable transformation activ...
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