Investec said it is pleased with its Level Three BEE Contributor status with a score of 75.03 points. This is an improvement of nearly ten points on Investec’s 2010 rating (Level Four 66.99 points).
The group said each pillar of its BEE scorecard has shown a year-on-year improvement. In the area of ownership, Investec’s score is 19.63 out of a possible 20 points.
Commenting on the improved ratings, Investec CEO Stephen Koseff said: “This is a testament to the real progress we have made towards our transformation objectives. During the past year we have focused particularly hard on encouraging significant transformation internally by bringing about greater representation in our workplace. In this regard, we continue to focus on creating black entrepreneurs within the organisation.”
He added: “As a non-retail bank we are very happy with the advances we have made this year. This is an important journey and we will continue to make further empowerment improvements towards our goal. Already moving in a positive trajectory, skills development and management participation are our particular focuses for the coming year.”
He said Investec’s commitment to black economic empowerment and transformation in South Africa is manifested in the way the company uses its entrepreneurial expertise to foster the creation of new black entrepreneurial platforms, both internally and externally, whilst also serving as a leading source of empowerment financing.