The new masters of Scaw Metals Group seem to have come with a meaningful transformation agenda if the latest black economic empowerment news coming from the steel company is anything to go by.
Scaw Metals, the steel and steel product manufacturing giant, announced this week that it has been awarded a Level 3 BEE rating which represents a great improvement from previous ratings. This, said the group, reiterates its commitment to being a responsible corporate citizen.
Scaw’s BEE advancement comes after the company’s ownership changed hands in 2012 from controlling shareholder Anglo American to the Industrial Development Corporation (IDC). The entry of IDC also saw BEE partners increase their stake in Scaw. These BEE partners are Cyril Ramaphosa’s Shanduka Resources, Sipho Pityana’s Izingwe Holdings and the Southern Palace Group of Companies.
Scaw Metals Group CEO Markus Hannemann said “Being a level 3 is a notable achievement for us, considering the inherent challenges of the steel industry. Over the past year a concerted effort has been made to improve our initiatives within the various target elements.”
Scaw said it improved its rating in five of the seven criteria with significant improvements in employment equity related elements and preferential procurement.
“We have made significant steps to ensure that we attract, empower and up-skill females in this male-dominated industry. We have female employees in various management positions around our operations and we have also welcomed two female board members, Neo Violet Mokhesi and Nokuzola Amanda Mpulo. We will continue to push for more female representation in our business,” said Hannemann.
In order to become the catalyst of empowering women in the industry, Scaw established a forum that supports career growth for these women and encourages more women to consider a career in the steel industry.
Scaw’s business philosophy impacts on the communities where its operations take place. It is imperative that it becomes a responsible corporate citizen. During 2013 Scaw embarked on various Corporate Social Investment (CSI) programmes which included education, environment and sport development.
“In the past year we supported our surrounding communities, working in partnership with non-governmental organisation (NGOs) such as Food & Trees for Africa, the Adopt-A-School Foundation and the Epworth Children’s Home. I believe that having a holistic CSI programme is key to the well-being of our employees and the communities in which we operate,” said Markus Hannemann.
“I’m proud of what we have done here at Scaw. We have come a long way to improve our BEE rating. We have implemented various initiatives which we will continue to benefit from in the future, said Ufikile Khumalo, Scaw’s Executive Chairman.
“Scaw is a proudly South African company and is committed and supportive of the objectives of the Department of Trade and Industry. We look forward to the challenge that lies ahead with the implementation of the revised 2013 BBBEE Codes of Good Practice,” said Hannemann.