JSE-listed real estate investment trust (Reit) Attacq, the developer of Waterfall City in Gauteng, has achieved a Level 1 contributor status towards Broad-Based Black Economic Empowerment (B-BBEE) after improving its rating in key elements of the scorecard, it announced on Thursday.
The new rating (for 2022) means the property counter has attained 100 points on the generic scorecard, helping it attain a recognition Level of 135%.
In 2021, Attacq had achieved a Level 3 B-BBEE contributor rating.
According to Sanas (South African National Accreditation System) accredited B-BBEE verification agency Renaissance SA Ratings, the Reit increased its ownership score by 26 points, enterprise and supplier development by 38.18 points and skills development by 18.39 points.
“Achieving this milestone talks foremost to our purpose – which is to create sustainable value for all stakeholders,” says ”Attacq CEO Jackie van Niekerk.
“This means that when we talk about transformation as a business, we talk about transforming our society, empowering our tenants and suppliers, and growing our partner network with emerging black businesses.
“This achievement is a reflection of our commitment to diversity and inclusion and underscores our ambition of driving growth and transformation in the South African economy,” she adds.
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The group says its focused Corporate Social Responsibility (CSR) strategy has helped it ensure this achievement as the various CSR investments contribute to its B-BBEE goals.
“As a locally-focused, people-centric business, Attacq strives at all times to prioritise skills development, through its supplier and enterprise development programmes and places particular emphasis on supporting the communities within which the business operates,” notes Attacq’s social executive Janine Palm .
“The inward application of transformation is centred on building a diverse workforce that represents the nation’s demographics, encourages inclusive thinking and diversity of thought. The latter in particular results in a range of perspectives and ideas, promoting agility and resilience in the company.”
Listen as Property Sector Charter Council CEO Portia Tau-Sekati speaks about transformation in the industry (or read the transcript):
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