Novus Holdings recently reported that it has moved from a level four Broad-Based Black Economic Empowerment (B-BBEE) status to that of a level three with a score of 94,23. Novus Holdings CEO Neil Birch said the company is proud of this achievement and is committed to proactive transformation and attaining the best B-BBEE scorecard possible.
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. ‘This accreditation is testament to the fact that we are moving in the right direction,’ said Birch.
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. ‘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.