KZN Treasury jumps from Level 6 to Level 3 on B-BBEE scorecard
The provincial treasury scored 91.02 points, with the finance MEC crediting targeted procurement, skills development and rural enterprise support.
KwaZulu-Natal Provincial Treasury has moved from a Level 6 to a Level 3 B-BBEE contributor after scoring 91.02 points on its latest scorecard, the government news agency SAnews reported on Monday.
B-BBEE contributor levels measure an organisation’s performance against South Africa’s Broad-Based Black Economic Empowerment framework. Level 1 is the highest contributor status and Level 8 the lowest recognised level, while entities scoring zero are classified as non-compliant.
KZN Finance MEC Francois Rodgers said the improvement reflected the department’s commitment to transformation, economic inclusion, skills development, enterprise support and socio-economic development.
“This improvement from Level 6 to Level 3 demonstrates our commitment to advancing meaningful economic transformation and creating opportunities for historically disadvantaged individuals and businesses,” Rodgers said.
“While we are encouraged by this achievement, we remain focused on strengthening our empowerment initiatives and ensuring that transformation contributes to inclusive economic growth across KwaZulu-Natal.”
Rodgers said three elements of the scorecard drove the result. Targeted procurement saw the department exceed its targets for procurement spend on designated groups. Skills development ran through employee training programmes, internships and learnerships, including the SAICA programme through which the department produces chartered accountants for the public sector. Enterprise and supplier development, and socio-economic development, included the iLembe Organic community project, which supports rural black farmers including youth beneficiaries.
Rodgers reaffirmed the treasury’s commitment to building on the result and to further advancing Broad-Based Black Economic Empowerment in the province.
The scorecard places KwaZulu-Natal Provincial Treasury at Level 3, reflecting its improved performance against the applicable B-BBEE criteria.
Source: SAnews (South African Government News Agency), KZN Treasury improves B-BBEE compliance status to Level 3
