B-BBEE & EE
Broad-Based Black Economic Empowerment
In line with the BEE Codes of Good Practice, Soma has followed a focused approach to empowering historically marginalised persons within and through the company. To this end, Soma has set its own strategic goals in line with the Generic B-BBEE Scorecard.
For instance, the empowerment partnership between the Soma Initiative and Cida Empowerment (Pty) Ltd (which has as its sole beneficiaries the previously disadvantaged students of Cida City Campus) effectively secures ongoing endowment funding through company dividend flow, corporate social investment and a Cida management fee, enabling the delivery of education, skills transfer and long-term empowerment to thousands of financially disadvantaged South Africans.
In terms of the B-BBEE Scorecard, Soma Initiative (Pty) Ltd is a black-empowered company with a B-BBEE Procurement Recognition level of 100% and is a B-BBEE Status Level 4 (Four) Contributor in respect of the seven elements of the Generic Scorecard, namely Ownership, Management Control, Employment Equity, Skills Development, Preferential Procurement, Enterprise Development and Socio-Economic Development. In this regard Soma Initiative (Pty) Ltd has Black Ownership of 25.37%, Black Male Ownership of 10,27% and Black Female Ownership of 15.1% and is rated as a Value-Added Supplier. Soma was rated by the Small Enterprise Rating Agency WC (Pty) Ltd (SERA) on the 8 February 2012, Certificate Number CT 055/01/12 with a B-BBEE Score of 73.33% and a B-BBEE Recognition Level of 4 (Four).
Employment equity
It is Soma’s policy to employ, develop and advance all of its employees – regardless of race, ethnic or social origin, colour, gender or disability – and to strive to maintain a workforce that reflects the composition of South African society. For this reason, we are also committed to providing equal opportunities in employment for all job applicants. |
