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ZARc - -0.42%ESG information BBBEE reporting
ESG information BBBEE reporting
Broad-based black economic empowerment (BBBEE) is a South African government policy designed to advance economic transformation and enhance the economic participation of black people (i.e. African, coloured and Indian people who are South African citizens) in the South African economy.
MultiChoice Group and MultiChoice South Africa are level 1 BBBEE companies. We are committed to fostering an inclusive society and transforming our broader industry. We believe that transformation is a business imperative and a catalyst for economic independence.
We recognise that owning economic assets plays a critical role in reducing inequality. That is why we are very proud of Phuthuma Nathi, our BBBEE share scheme. As one of the most successful and longest running BBBEE share schemes in South Africa, Phuthuma Nathi is comprised of 75 175 black shareholders from all walks of life including professionals, helpers, gardeners, teachers, nurses, stokvels and black-owned small business. In 2023, Phuthuma Nathi paid ZAR1.375bn in dividends to Phuthuma Nathi shareholders. Phuthuma Nathi owns 25% of MultiChoice South Africa and through this scheme, we share the success of our business with thousands of black South Africans. As of September 2023, Phuthuma Nathi has paid ZAR17.8bn in dividends.
Learn more in our Phuthuma Nathi sectionBBBEE and employment equity is an important focus for our South African businesses, and the majority of our MultiChoice South Africa board members and employees are black South Africans. Our preferential procurement programme in South Africa supports local businesses and the development of small, medium and micro-enterprises (SMMEs). The majority of our preferential procurement spend is with BBBEE compliant suppliers, and the majority of our spend directed at SMMEs goes to suppliers where black women represent at least 30% ownership.
MultiChoice South Africa also established the MultiChoice Enterprise Development Trust in 2012 to support and grow start-ups and small enterprises. The trust subsequently relaunched its fund as the MultiChoice Innovation Fund. Since its inception, the Innovation Fund has disbursed ZAR407m in loans, grants, and business development expenses to assist beneficiaries in acquiring skills and assets. Specifically targeting black women and youth-owned businesses, the Fund has invested across the ICT sector in digital and emerging technologies, broadcast technologies, innovative content and businesses in the Fintech, Edutech, Healthtech, HR tech and Media platforms spaces. To date, 77 black-owned small businesses with at least 50% female-black ownership have benefited, resulting in the creation of more than 1 400 jobs.
Additional information on our BBBEE initiatives can be found under the social investment section of the website, in our MultiChoice Group integrated annual report, our Phuthuma Nathi integrated annual report and our social report.
Our current BBBEE compliance report and certificates are included below:
| BBBEE certificate MultiChoice Group | |
| BBBEE compliance report MultiChoice Group | |
| BBBEE certificate MultiChoice South Africa |
