13 Oct BBBEE Best Practice
In the context of transformation and BBBEE best practice, it is with pride that Boomtown would like to announce our new BBBEE status. This has come into effect linked to a share sale to UINA Investment Holdings (PTY) Ltd, a verified 100% Broad based black women ownership entity.
This allows us to now proudly boast a 51% Black Ownership, level 2 BBBEE company status.
Due to this ownership status, procurement from us will afford you, a valued client, BBBEE procurement recognition in all of the following categories:
- Overall BBBEE procurement
- Procurement from QSE
- Procurement from a 51% Black Owned Company
- Procurement from a 30% Black Women Owned Company
- Procurement from Designated Groups who are at least 51% Black Owned
Furthermore, should you enter into a 3-year supply agreement with us, a further 120% procurement recognition is offered resulting in a total procurement recognition of 150% of total spend.
This 150% procurement recognition will be credited under all the categories stated above.
These sub-elements cover 21/25 points or 84% of the preferential procurement scorecard. By virtue of our black equity profile we can now offer up to 900% greater preferential procurement recognition than what one gets from procuring from a Generic Level 1 BBBEE company which does not have the appropriate equity profile.
We trust that this new level of compliance meets favourably with your procurement protocol and look forward to finding the great solutions through creativity that will see your business prosper in the years to come. The necessary documentation pertaining to the BBBEE status will follow, and should you have any additional questions, please don’t hesitate to contact me.
Thank you and kind regards,