| Wed 3 Mar 2010, 15:30 | | BAW / BAWP - Barloworld Excels On Empowerment And Transformation |
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BAW BAWP
BAW
BAW / BAWP - Barloworld Excels On Empowerment And Transformation
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(ISIN: ZAE000026639)
(Share code: BAWP)
(ISIN: ZAE000026647)
("Barloworld")
PRESS RELEASE
BARLOWORLD EXCELS ON EMPOWERMENT AND TRANSFORMATION
3 February 2010 - Following an independent audit of Barloworld`s Broad-Based
Black Economic Empowerment (B-BBEE) scorecard, the Group is pleased to announce
that it has achieved a consolidated Level 3 B-BBEE rating. This rating is based
on the Department of Trade and Industry`s (DTI) B-BBEE scorecard. Barloworld
also obtained independent ratings of its material South African subsidiaries
and, in this regard, Avis Rent a Car excelled by achieving a Level 2 rating
while Barloworld Equipment, Barloworld Motor Retail, Barloworld Handling and
Agriculture all achieved a commendable Level 3.
Clive Thomson, CEO of Barloworld commented; "We are proud that the Barloworld
Group and its subsidiaries performed well on our B-BBEE scorecard as Empowerment
and Transformation is one of our key strategic focus areas. It will also
provide a competitive advantage in the marketplace as customers purchasing
products or services from any of Barloworld`s South African subsidiaries will
achieve at least 100% credit for these purchases for the purpose of their own B-
BBEE scorecards. We are well placed to build on these achievements to improve
further in 2010."
Barloworld is committed to being a champion for transformation through the
empowerment of previously disadvantaged individuals. In 2008, the company
successfully completed a B-BBEE transaction which saw an effective 29%
empowerment of its South African businesses, following a transaction which
incorporated a number of parties including thousands of South African based
employees as well as community service groups, an education trust and various
strategic black partners, certain of whom work as full time executives in the
business. The CEOs of Barloworld Equipment South Africa, Barloworld Logistics
and Barloworld Motor Retail southern Africa are all black executives. Internal
transformation initiatives around employment equity continue and Khanyisile
Kweyama Group executive, Global human resources and transformation, also
launched gender empowerment initiatives in 2008 which are aimed at inspiring and
retaining quality female managers and promoting gender equality across the
Group.
Several initiatives have taken place on the skills development front. In
October 2009 Barloworld officially opened its R120-million Technical Training
Centre, including a R57 million student housing complex in Isando. The project
aims to train artisans both locally and in the rest of Africa where the company
has customers to service our Caterpillar equipment. We have also recently opened
a leadership development centre at Barlow Park, Sandton which continues our
commitment to leadership and skills training.
Enquiries:
Barloworld 011 445 1000
Jacey de Gidts
College Hill 011 447 3030
Nandile Ngubentombi
Jacques de Bie
Sponsor:
J.P. Morgan Equities Limited
Date: 03/03/2010 15:30:02 Produced by the JSE SENS Department.
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