MechChem Africa

The management of SKF South Africa, specialist in bearings, engineering and rotating technology, proudly announces attainment of Level 4 recognition on the Broad-based Black Economic Empowerment (B-BBEE) Revised Codes of Good Practice.

SKF B BBEE certificateSKF B-BBEE certificate issued on the 29th of March 2017

This achievement comes on the back of the strong foundation that SKF has established by embracing the transformation legislation from the very beginning. SKF South Africa HR & B-BBEE Manager, Corlé Grobler, explains that as the elements of the B-BBEE scorecard are aligned with the SKF Care model which encompasses business, environment, employees and community, it has always been treated as part of SKF’s corporate strategy.

SKF continued to improve from its Level 8 status on the first B-BBEE scorecard to reach a Level 6 which was maintained for a period of time. “Level 6 accreditation gave our customers and authorised distributors 50% recognition on their procurement spend with us,” says Grobler. “But despite the B-BBEE successes, we never rested on our laurels, always setting our sights higher.”

SKF’s journey to reach Level 4 accreditation started in 2013 with the announcement of the Revised Codes of Good Practice. Prior to that, SKF South Africa, as a subsidiary of the multi-national SKF organisation, was attending to all elements of the B-BBEE scorecard with the exception of Ownership. When Ownership became a priority element, SKF’s efforts to address this element began in earnest.

When SKF South Africa acquired Lincoln Lubrication SA on 1 March 2015, it was decided that the companies would work jointly on B-BBEE. This culminated in a joint Level 6 B-BBEE certificate in February 2016. The success of these combined efforts is reflected in the significant improvement in points on the Management Control element (3.71 points increase) and the Skills Development element (6.83 points increase) on the new Level 4 scorecard.

To facilitate the fulfilment of Ownership requirements, SKF South Africa called on the support and assistance of expert consultants already in 2013. This resulted in the sale of 30% shareholding in SKF South Africa to Black Women Owned Golelo Trust in 2016. According to Grobler this transaction has significantly contributed to SKF’s Level 4 achievement.

www.skf.com

BANNER 8

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