Transformation

Transformation is a strategic imperative for Naspers to ensure we comply with local legislation and that our workforces reflect local demographics. Across the group, various initiatives are developing appropriate skills and responsible procurement practices.

Media24 has made solid progress with its transformation aims in recent years. These are tracked against a scorecard for the Department of Trade and Industry’s code of good practice for broad-based black economic empowerment (BBBEE). In terms of the scorecard prepared by AQRate, Media24’s BEE verification agency, Media24 has improved its score and retained a level 4 rating with 125% recognition on BEE spend scoring full points on the ownership, socio-economic development and enterprise development elements.

MultiChoice has improved its status from a level 4 to a level 3 contributor, further investing in employment equity, skills development and preferential procurement. After its successful empowerment transaction in 2006, 120 000 new shareholders were introduced. MultiChoice also scores well on employment equity (81%) and preferential procurement (93%). MultiChoice’s recent initiatives to establish the MultiChoice Enterprise Development Trust and initiating early payments to qualifying enterprise development beneficiaries to facilitate their cash flow will improve scores for enterprise development..