17 December 2020 – Despite an extremely challenging year nationally and globally and across all sectors and industries, Tiger Brands has improved its B-BBEE (Broad-Based Black Economic Empowerment) rating from Level 4 to Level 3 – two years ahead of its projected target in 2022.
"This year has certainly been like no other. In the face of a spiralling economy, rising unemployment and generally poorer financial performance across the board; Tiger Brands is proud to have stood steadfast in the face of new and ongoing challenges and to have excelled beyond our B-BBEE targets for the next two years," said Mary Jane Morifi, Chief Corporate Affairs Officer. "This is testament to our unwavering commitment to transformation and our contribution to economic empowerment in South Africa."
In 2019, when the amended Agri-codes dropped the company's level from level 3 to level 7, Tiger Brands developed a B-BBEE strategy and glidepath that aimed to restore the organisation's rating back to at least Level 3 by 2022. Further governance structures and management tools were put into place to ensure that the targets were achieved and that BBBEE becomes an inherent part of our everyday group culture. Part of this approach included setting up a BEE Steering Committee comprising C Suite executive members who are our custodians of BEE. A working group comprising pillar champions across various sections of the organisation aim to execute our BEE mandate and ensure that targets are met. This has given us a clear view of our goals and to proactively manage the portfolio, and areas that require attention and improvement.
Our strong enterprise and supplier development drive saw Tiger Brands source wheat, maize and beans from emerging black farmers, which culminated in R12,3 billion being spent on BBBEE verified suppliers in 2020. Furthermore, R32 million was spent on various socio-economic development projects that saw around 100 000 beneficiaries.
"Our BBBEE progression, however, is only possible when each and every employee owns transformation and sees it as a journey, not a destination," said Preeya Naidu, B-BBEE and Social Transformation Manager at Tiger Brands. This journey of transformation will continue to be an inherent part of our company culture as Tiger Brands enters its second centenary of operation in 2021.
"On the back of our three-level B-BBEE advancement last year, our goal for the coming years – as a proudly South African company – is to lead our industry, not just in terms of B-BBEE requirements, but in terms of the implementation of programmes and projects that reflect the company's commitment to an inclusive economy and transformation of our society," said Morifi in closing.
