RENAULT South Africa has been officially accredited as a Level 5 Contributor in terms of broad-based black economic empowerment legislation by the National Empowerment Rating Agency.
The French marque has made significant strides in terms of BBEEE, according to Marc Gantzer, Renault South Africa's vice-president of finance.
"This is good news for us and also our business partners, who will derive benefit from our procurement recognition level, which has climbed from 60percent to
80percent," Gantzer said yesterday.
"Renault's BBBEE scorecard will impact positively on theirs via their procurement score, which accounts for 20percent of the total number of points awarded in the scorecard."
Bongie Dlamini, financial manager of projects, said: "Renault is proud to have achieved full marks in the enterprise development and socio-economic development categories, which are the two key indicators of the role Renault plays in previously disadvantaged communities.
"The first is scored on the extent to which Renault has made both financial and non-financial and recoverable and non-recoverable contributions to entities that meet the enterprise development criteria. The second is based on the degree to which our company has supported majority (75percent black beneficiary) black communities and our top score in this segment has been achieved through Renault's support of the valued citizens initiative. - I-Net Bridge