Before looking at Sizwe Recruitment and Training Services' empowerment status, we would like to
include the following definitions:
According to the BEE
Committee's Final Report of 2001, the definition of a "black
company" is:
"A black company is
one that is 50.1% owned and managed by black people. Ownership refers
to economic interest. Management refers to executive directors. The black
company should receive an "A" rating for Accreditation
purposes."
The definition of "Black
people" according to the Broad-Based Black Economic Empowerment
Act, 53 of 2003 is:
"Black people is a
generic term, which means Africans, Coloureds and Indians."
Ownership: Sizwe Recruitment and Training Services is 51% owned by black people and is
therefore, by definition, a black company. Current negotiations will
increase black shareholding even further.
Control: The empowered
shareholding is reflected in management throughout the company. In
situations where these representations are not yet in place, the company
will commit management to implement targets for the achievement thereof,
taking into consideration the continuous profitability and stability in
these investments.
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