Black Economic Empowerment and Employment Equity
Heaton Valves Africa (HVA) is a Level 4 B-BBEE contributor with a procurement recognition level of 100%.
HVA has made a balanced contribution across all seven measurement categories of the generic scorecard. HVA implemented initiates over the last year. The following key categories, all of which have had highly successful outcomes:
1. BEE Shareholder Wealth Creation
HVA’s Black ownership level is 16%. Most importantly, through the Debt owing on these shares when compared to the Net Asset Value of the BEE Shares is a mere 20%, and when compared to the fair market value is below 10%. This demonstrates genuine BEE wealth creation.
2. Skills Development
HVA has focused both on the skills development of black employed staff and unemployed persons that were previously disadvantaged.
- Black Employees – Both formal education and business mentorship programs have been implemented on a broad scale
- Black Unemployed Persons – HVA has employed a number of previously unemployed black disabled females and placed them on project management NQF level 4 learnerships.
HVA remains committed to procuring from B-BBEE contributing suppliers, and has redirected certain of its procurement. HVA’s procurement score achieved is now in excess of 75%.
4. Socio-Economic and Enterprise Development
HVA has contributed quite extensively towards the upliftment of previously disadvantaged communities through a broad spectrum of initiatives. A score of 100% has been achieved in this category.
HVA is currently initiating actions to embrace the intentions of the revised codes of good practice, with a focus over the next year on further upliftment of previously disadvantaged groups, through:
- Skills development of unemployed persons
- Provision of business mentorship services to small business empowered suppliers.
- Improving procurement from empowered suppliers (51% Black owned and 30% Woman owned), wherever possible.