Novus Holdings (JSE: NVS), a leader in the South African commercial printing and manufacturing sector, has successfully obtained a Level Three Broad-Based Black Economic Empowerment (B-BBEE) rating with a score of 94,23 moving up one notch from its previous Level Four status, the company announced today.
This is the second time in 2018 that the Group received an improved score, after achieving Level Four status earlier this year.
“We are proud of this achievement and committed to proactive transformation and attaining the best B-BBEE scorecard possible. This accreditation is testament to the fact that we are moving in the right direction,” said Neil Birch, CEO at Novus Holdings.
He added that today’s improved score is due to a number of initiatives undertaken by the Group which have now been recognised as compliant with the B-BBEE scorecard.
This new Level Three rating will also see the Group’s customers benefit from 110% procurement recognition where previously Level Four offered a 100% procurement recognition.
“As we are committed to the advancement of economic transformation in South Africa, our transformation initiatives go beyond compliance.”
Novus Holdings does this by continuously attracting and retaining an employee complement that represents local demographics fairly, both in terms of equity and gender, as well as through supplier development programmes.
“We continue to encourage the increased support of small businesses with black-owned and black female-owned business enterprises as first choice suppliers,” concluded Birch.