Transformation is everyone’s business, says Samsung

Fresh from achieving a notable fourth consecutive level 1 BBBEE contribution status, Samsung SA is bullish about bolstering the country’s economy.

The tech giant believes corporates that are committed to empowering people with skills and opportunities are essential in building a more resilient and inclusive economy which, in turn, creates further opportunities for growth. 

In fact, programmes aimed at education, entrepreneurship and skills development, particularly in the all-important ICT sector, are a cornerstone of Samsung’s strong BBBEE credentials.

“Over the years, Samsung has prioritised BBBEE as a non-negotiable practice, because we have seen the incredible socioeconomic impact of implementing it for lasting change,” says Hlubi Shivanda, director of business innovation group and corporate affairs at Samsung SA.

“We know it’s no small responsibility to realise the long-term goals [of transformation] as it requires a collective effort from citizens, corporate organisations and the government. This is why our vision is aligned with the government's BBBEE policy, and why Samsung is focused on all policies designed to empower South Africans in meaningful ways.”

By supporting SA’s youth through bursaries, learnerships and STEM-aligned educational programmes, Samsung is banking on the transformative power of technology and innovation to effect societal change. 

This comes at a time when many South Africans are experiencing devastating job losses, so Samsung’s learnership and skills development initiatives are providing much-needed jobs for unemployed youth and people living with disabilities.

The company is also contributing to sustainable transformation across the Samsung value chain.

This was evident from the onset of the pandemic when Samsung provided much needed relief to SMMEs by not recalling unsecured loans provided to emerging businesses. Small businesses in the supply chain were still paid on shorter payment terms to help sustain their businesses.

Increased spending towards supporting black-owned and black-women owned SMMEs has also become a greater focus of the company. 

Ultimately, Samsung is committed to pursuing opportunities for people to become actively engaged in the broader economy and, in doing so, uplift marginalised communities throughout the country. Transformation, it believes, is everyone’s business.

This article was paid for by Samsung SA.