Sekunjalo 'top BEE firm'

Iqbal Survé-led Sekunjalo's overall BEE score came in at 76.44% while its preferential procurement spend stood at 10.5% and economic interest at 54% - although in terms of employment equity it only managed 9.1%.

The Don Group - which is 40%-held by chair CEO Thabiso Tlelai - came in second with an overall score of 74.07% and a mere 3.7% in affirmative procurement with another hotels and leisure group Sun International taking the third place with 70.04% overall.

Although Telkom took fifth position or 67.16% overall, out of the 200 companies ranked, it fared far better than Sekunjalo in terms of pillars such as preferential procurement, skills development and black management.

Telkom has fallen sharply from the number one spot it occupied last year and in 2004.

"The award says three things to us and the business community. It is a vindication of our economic business model. But it also says that you can be successful as a business and yet care for the needs of poor people," Survé said after collecting the prize.

"The recognition also tells us that it is possible to bridge the gap between the rich and the poor in terms of skills development and other initiatives. This is what we've been doing and this is quite encouraging; we hope other companies will also adopt these values which South Africa dearly needs at this point."

Survé said it was about time that the business community started caring for the needs of the country if economic growth was to be sustainable. He urged companies to engage in job-creation initiatives in dealing with the scourge of unemployment.

South Africa's economic problems include a lack of skills and abject poverty, in the second economy, as well as high levels of unemployment despite more than ten years of economic transformation and BEE.

Public Investment Corporation (PIC) CEO Brian Molefe lamented the fact that growth in JSE market capitalization by 41% to R2.7bn did not translate into an increase of black new players in the financial market system.

"Clearly this is a matter that needs urgent attention or we run a risk of leaving black people marginalised. We need a cadre of managers who are sensitive and alive to issues pertaining to black people. . . we need to break the 4% barrier," he said alluding to the fact that black people's ownership of JSE-listed companies has ranged between 2% and 4% over the past few years.

Molefe said as part of its active shareholder responsibility, the PIC would be holding discussions with 50% of the Top 40 companies that have not started negotiating a BEE deal involving more than 25% of equity or operations.

"It is our hope that the other large institutional investors on the JSE, including Thabo Dloti (CEO at Old Mutual Asset Managers), will join us in making these friendly enquiries," he continued.