We are proud to announce that our customers can now achieve 100% BEE procurement recognition on all spend with Bearings 2000 as a result of our level 4 BEE status.
Bearings 2000 regards itself as a new-generation South African industrial supplies company, wholly committed to transformation goals and objectives. We see transformation as an opportunity for further growth and development in line with the Broad-based Black Economic Empowerment Act and the Employment Equity Act. To this end, Bearings 2000 focuses on entrenching empowerment on a more sustainable platform in the business to ensure effective participation of previously disadvantaged groups in terms of ownership, control and skilled occupations. Our transformation strategy is broad-based and will focus on all seven pillars of empowerment.
We are proud to announce that the company has changed its ownership to align itself with the transformation goals of the Broad-based Black Economic Empowerment Act. Now a 26% black female owned entity.
Further to the ownership change, the goal for the company in terms of BBBEE is to achieve a level two in the year 2019 and beyond, this will be achieved through skills, supplier, enterprise and socio-economic development, management control and preferential procurement.