Samsung Maintains Level 1 B-BBEE Rating for Seven Years In A Row
Samsung has accomplished a remarkable milestone by maintaining its Level 1 B-BBEE (Broad-Based Black Economic Empowerment) status for seven (7) consecutive years, an affirmation of its genuine commitment to transformation as well as continued development and growth in South Africa.
The company has continuously set new benchmarks in the industry and confirmed its determination in driving economic transformation in South Africa through its B-BBEE Initiatives. The retention of this Level 1 B-BBEE rating signifies and emphasises Samsung's ongoing commitment to driving meaningful and sustainable economic transformation, diversity and inclusion within the organisation and the wider South African business landscape.
Over the years, Samsung has demonstrated its dedication to diversity and inclusion through a number of B-BBEE initiatives illustrated by its diverse workforce, partnerships with black SMMEs, access to supply chains, investment in workplace training, graduate programmes as well as its education-based Corporate Social Responsibility (CSR) initiatives.
These B-BBEE initiatives are driven through Samsung's landmark R280-million Equity Equivalent Investment Programme (EEIP), which was launched in May 2019 in collaboration with the Department of Trade, Industry and Competition (Dtic). Samsung is now celebrating six years of this programme's sustained success. This EEIP programme is projected to have a measurable impact on job creation in the South African economy. Now in its seventh year, the EEIP programme has managed to rise to the challenge of achieving its ambitious goals.
Samsung's unwavering dedication to creating a more inclusive and equitable business environment is proven once more by the maintenance of this Level 1 B-BBEE status. Also, this rating re-affirms Samsung's continued drive to genuine economic transformation in South Africa and investment in the various pillars of the scorecard. The company's approach to B-BBEE over the years – has focused on five key pillars: Ownership through EEIP & Management Control, Employment Equity & Skills Development, Preferential Procurement & Enterprise Development as well as Socio-Economic Development (Social Responsibility).
As a good corporate citizen that has consistently supported the country's transformation agenda in the last three decades, Samsung has invested in a number of specific initiatives that have contributed immensely in fostering a more equitable society. As part of its skills development initiatives
,
Samsung has various programmes focused on electronics technician training, including the MICTSETA accredited Young Technician Programme.
The aim of this MICTSETA accredited Young Technician programme is to bridge the gap between education and employment. This is a structured learnership programme that combines practical work experience with theoretical training. The programme provides learners with skills to be able to work at Samsung Accredited Service Centres. This 12-month programme equips learners with technical skills as well as behavioural competencies giving them hands on experience – enabling the learners to successfully enter the work place environment.
Samsung believes in supporting academically deserving students with proven financial need to take their first steps toward achieving their dreams and to obtain their first Undergraduate or Honours Degree. The Samsung External Bursary programme aims to fund academically deserving students who do not have the financial means to study full time towards an Undergraduate or Honours degree at a South African University or University of Technology. The programme also prioritises people living with disabilities. The aim of the programme is to address skills shortages as well as to attract talent pool aligned to Samsung's business model. In 2024, Samsung benefited 122 bursars, including 82 students with disabilities.
This well-considered and integrated approach has enabled Samsung to partner with universities and SETA accredited training providers to train 1440 software developers and accredited technicians to enhance their prospects of securing employment, starting their own businesses and further training. The training of unemployed youth addresses a key need in the South African ICT sector and has resulted in a marked increase in female software developer and artisan graduates.
Also, in an effort to prove that its transformation agenda is not just a tick box exercise – Samsung has increased its focus on unemployed learners through its internship and learnership programmes – supported by an emphasis on creating work experiences during and post the learnership or internship period. This skills development programme is geared towards ensuring that Samsung increases the employability of the country's young hopefuls. Samsung's programme reach extends beyond Gauteng, it also includes Limpopo, Eastern Cape, Kwa-Zulu Natal and the Western Cape provinces.
In addition, Samsung's efforts when it comes to enterprise development include its re-direction of existing spend to qualifying Black-Owned and Black-Women Owned Qualifying Small Enterprises ('QSEs') and Exempt Micro Enterprises ('EMEs'). The company has ensured that these small enterprises were included in the existing procurement value chain of Samsung with a focus on the following, approved areas: Marketing, Services, Sales, Logistics and Recruitment. And, as part of the third phase of the Enterprise Development & E-Waste programmes which was launched towards the end of 2021, a further investment of over R60-million is planned over the next three years.
And furthermore, as part of its contribution to socio-economic development: Samsung has invested in education-focused initiatives that include the Samsung Innovation Campus (SIC) which teaches 4IR skills including coding and programming, AI, IoT and big data to students in higher learning institutions.
And furthermore, Samsung has over the years ploughed further resources into the global Solve For Tomorrow (SFT) competition that is now in its third year of execution – targeting grade 10 and 11 learners from disadvantage schools across the country to solve community problems through Science, Technology, Engineering and Maths (STEM). These education-focused initiatives that are driven through technology are a re-affirmation of the company's commitment to STEM education and the upliftment of underserved communities.
Samsung believes that all these efforts are essential in driving economic transformation in the country and creating a more inclusive and equitable business environment. The seven years of retaining this outstanding Level 1 B-BBEE status is a true reflection of Samsung's profound, long-term and impactful dedication to transformation which transcends mere compliance.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
32 minutes ago
- IOL News
A call to action: Portfolio committee can address accountability in South African football
One of the primary challenges facing the game lies within the South African Football Association (SAFA), which has been notably reluctant to take responsibility for the ongoing turmoil. This lack of accountability has not only stalled reform initiatives but has also contributed to a climate of distrust among stakeholders, particularly the corporate sector. The Portfolio Committee on Sport, Arts and Culture holds a critical key to unlocking the transformation needed in this beloved sport, provided its members engage thoroughly with the issues at hand and make informed decisions. While the potential for greatness exists within the country's talent and passionate supporters, deep-seated issues continue to hinder progress. As the appointed overseers of the Department of Sport, Arts and Culture, they are tasked with holding vital discussions on budget allocations, policy scrutiny, and performance evaluations, aiming to ensure that the department meets its mandate effectively and is held accountable for its actions. The Portfolio Committee on Sport, Arts and Culture can play a crucial role in revitalising South African football, and it must not be overlooked. To effect meaningful change, members of the Portfolio Committee must undertake diligent research on the myriad of issues plaguing South African football. They have the opportunity to engage with stakeholders from various levels to create a holistic understanding of the problems faced by the sport. This comprehensive engagement is vital; informed commentary and relevant questions can guide discussions in a direction that fosters responsibility and improvement. Their engagement must not merely scratch the surface. There is an urgent need to dissect the intricacies of governance structures within SAFA, demand transparency in operations, and call for a strategy that reinvigorates the passion of South African fans. Engagement must extend into addressing youth development, grassroots initiatives, and infrastructural support – elements that will secure the future of football in South Africa. Significantly, it's the corporate world's participation that could rejuvenate the sport financially and operationally. However, sponsors and investors are unlikely to commit funds so long as there is a perception of inefficiency and a lack of accountability within SAFA. A revitalised football association, one that embraces reform and responsibility, would pave the way for constructive partnerships that could elevate South African football to new heights. The Portfolio Committee can play a transformative role, provided it approaches its mandate with the seriousness and diligence it deserves. A recent parliamentary session raised a host of concerns surrounding SAFA's choices and salaries in coaching appointments across national teams. The South African Football Association (SAFA) finds itself navigating turbulent waters, facing heightened scrutiny over its financial constraints and coaching appointments amid a recent parliamentary session. Issues surrounding operational efficacy and personnel decisions are at the forefront of discussions, particularly concerning coaching roles across national teams. On several occasions, SAFA proudly announced that all coaching positions for the national female teams have been filled exclusively by South African women. SAFA President Danny Jordaan said parliament was highly pleased by this, asserting that the decisions reflect a commitment to empowering local talent. It would seem that the committee was rubber-stamping SAFA's act of prioritising nationality over coaching pedigree, and that undermined the potential for optimal performance. The coaches of female national teams are there firstly because they are women. This focus on gender may undermine teams' competitive edge. As SAFA continues to address its financial pressures, the path forward will undoubtedly require vigilance and a fine-tuned strategy that prioritises both inclusivity and high standards of coaching capability. The committee members should have asked whether these appointments are truly merit-based. Proponents of meritocracy contend that an ideal coaching situation requires a careful balance of nationality and qualifications to ensure optimal performance on the international stage. The fear among various stakeholders is that female coaches are being appointed primarily for their gender rather than their coaching acumen.
The South African
an hour ago
- The South African
AGENCY quietly increases 2025 SASSA asset and means limits
2025 SASSA asset and means limits all depend on the grant you're applying for. The agency's 'core' grants, like Older Person, Disability and War Veterans tend to be the highest. While other social welfares, like Childcare and SRD, only have a means test and no asset portion. Interestingly, an increase to nearly all 2025 SASSA asset and means limits this year has gone by largely undetected. This new eligibility criteria came into being back in April 2025, at the same time above-inflation increases were initiated for 'core' SASSA grants. It's now that bit harder to qualify for a SASSA grant in South Africa. Image: File Nevertheless, what are the South African Social Security Agency's new 2025 SASSA asset and means limits? Below, we will list all the eligibility requirements at the beginning of the year versus what they are today, starting with Old-Age Grants in August 2025: GRANT INCOME BEFORE INCOME NOW Older Person, Disability and War Veterans R101 640 (single) R107 800 (single) R203 380 (married) R215 760 (married) Child Support R63 600 (single) R67 200 (single) R127 200 (married) R134 300 (married) Child Care Dependency (Disability for u/18s) R261 800 (household) R277 200 (household) Social Relief of Distress (SRD) R624 unchanged *figures are annually, so divide by 12 for a per-month figure * figures represent a 17% increase, which is way above inflation in 2024/2025 A new fourth payment date (typically the first Friday of the month) means those under grant review don't have to wait too long for payment. Image: File Since May 2025, the agency has been tightening its income verification processes. As The South African reported previously, SASSA now cross-references your income with several third-party sources. So, even if you've been getting away with extra income before, you should be careful if you don't declare so to the agency now. If you are one of the quarter of a million SASSA grant recipients who has had their monthly stipend halted, this is how you can rectify the situation: Report in-person to your nearest SASSA branch. Bring along a recent bank statement. Valid work payslip. Copy your ID (plus your child's ID if applicable). Supply your proof of residence (no older than three months). If you have indeed overstepped the 2025 SASSA asset and means limits, you will have three options open to you. You may either pay the money back in full, arrange a debit order that goes off each month from your bank account. Or the agency can setup a payment system for you. However, this will accrue interest and end up costing you more in the long run. Graphic: SASSA Older Person – Tuesday 5 August 2025 Disability & War Veterans – Wednesday 6 August 2025 Childcare – Thursday 8 August 2025 Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Daily Maverick
15 hours ago
- Daily Maverick
Ramaphosa announces urgent measures to shield South African firms from Trump's tariff fallout
This comes after the Department of Trade, Industry and Competition launched an export support desk on Thursday night as one of its 'urgent interventions' to support South African exporters affected by the tariffs. South Africa is preparing a package to support companies that are vulnerable to the US tariffs, after it failed to secure a trade deal with Washington before a deadline set by US President Donald Trump. 'All channels of communication remain open to engage with the US, and our negotiators are ready pending invitation from the US,' President Cyril Ramaphosa said in a statement on Friday morning. 'In the meantime, government is finalising a package to support companies that are vulnerable to the reciprocal tariffs. The package consists of a number of measures to assist companies, producers and workers affected by the tariffs on SA exports to the US. The details of the measures will be announced in due course,' said Ramaphosa. This comes after the Department of Trade, Industry and Competition launched an export support desk on Thursday night as one of its 'urgent interventions' to support South African exporters affected by the tariffs. On Thursday, Trump signed an executive order placing new tariff rates on dozens of countries, hours before the 1 August 2025 deadline he had set for deals to be made. Some countries received modified tariff rates, while South Africa's remained at the 30% previously proposed by the US. (Source: The Outlier) According to the executive order, the higher import duty rates will take effect seven days from the date of the order. 'All applicable exceptions published in the previous US executive order are set to remain in force, and these exceptions covered products such as copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, stainless steel scrap and energy products,' said Ramaphosa. South African officials have been working frantically for months to secure a trade deal with the US to avert Trump's punishing tariffs. South Africa proffered a proposed framework deal to US trade representatives in Washington in May, before Ramaphosa and Trump met at the White House. Representatives were later told they needed to revise this proposal, in accordance with the Trump administration's new template for US trade with sub-Saharan Africa, which they were told would be shared ' soon '. Earlier this week, it appeared the country was still waiting for this template. In his statement, Ramaphosa said the department was in 'constant contact' with the US on its framework deal. He said trade relations between SA and the US were 'complementary in nature' and that South African exports 'do not pose a threat' to US industry. 'South Africa will continue to pursue all diplomatic efforts to safeguard its national interests. It is important that as a country we keep our people at work and our companies producing some of the high-quality products destined for many parts of the world. 'To this end, government will intensify its diversification strategy to create resilience of our economy, and is working with export councils and industry associations, as well as top exporters to the US with a view to assist with alternative markets,' he said. Call to renew 'intensive negotiations' Dr Boitshoko Ntshabele, the CEO of the Citrus Growers Association, told Daily Maverick the 30% tariff 'will be felt most acutely in rural communities in the Northern and Western Cape, the two provinces from which we export to the US'. Ntshabele said it was still possible to reach a trade deal with the US before 7 August, and called on Ramaphosa to renew 'intensive negotiations'. 'The category of seasonal fresh produce offers clear mutual benefits to both countries. South African citrus is exported to the US during the northern hemisphere's summer months. This secures continued supply in the category and in no way threatens domestic US growers. 'It is notable that Brazilian orange juice has been exempted from US tariffs. Fresh South African citrus plays a significant role in keeping America healthy, keeping citrus consumers in the category, and in avoiding possible citrus price increases. 'We have passed the middle of the southern hemisphere's citrus season, and local citrus growers have managed to accelerate a limited number of shipments to the US in the past weeks, which has mitigated some of the effects of the tariff on the current season's US exports. But should a beneficial trade deal not be concluded, our next export season will feel the full effect of the tariff.' Ntshabele welcomed the department's emergency measures, but said that without a deal, 'Our growers in the Western and Northern Cape will face a potentially devastating scenario, especially since the US citrus market's appetite for our produce until very recently offered the potential for creating many more local citrus jobs.' 'No company can compete with 30% tariffs' The Congress of South African Trade Unions (Cosatu) on Friday said it was 'extremely concerned' about the impact of the 30% tariff on all South African goods, barring minerals. 'We fear the devastation this will wreak upon farmworkers in the citrus industry from the Western Cape to Limpopo, to motor manufacturing workers from the Eastern Cape to Gauteng. No company can compete with 30% tariffs. Many may close,' said Cosatu in a statement. Daily Maverick reported previously that Trump's punishing tariffs would kneecap South African industries, including the automotive sector and the citrus industry. 'This calamity has been made worse as South Africa has been unfairly made a global skunk with comparatively far better tariffs of 15% announced for neighbouring states, economic sector competitors and most of the world, ironically including many regimes with dubious understandings of the rule of law and real human rights abuses and genocides, who will now have a real advantage over South African exports,' Cosatu added. In a statement on Friday morning, DA spokespersons on Trade, Industry and International Relations, MPs Toby Chance and Ryan Smith, said that the commencement of the 30% tariffs on SA goods was a 'devastating outcome' for the country. 'Both the departments of Trade, Industry and Competition, and International Relations and Cooperation should hang their heads in profound shame today. This 'no deal' scenario is due to sheer negligence, failed diplomacy and ineptitude,' they said. The Nelson Mandela Bay Business Chamber said that the imposition of the 30% tariffs was a 'big blow for local businesses, especially in the automotive and agricultural sectors'. 'The Eastern Cape economy is likely to be the most adversely affected in the country by these developments. 'We are deeply concerned about the impact these developments may have on our automotive industry, which is anchored by the Original Equipment Manufacturers (OEMs) which undertake completely knocked down assembly in South Africa. These OEMs are responsible for creating well over a 100,000 jobs at their own operations and within their components supplier networks. 'Furthermore it is estimated that the knock-on employment impact of these OEMs and components manufacturers results in over 500,000 formal jobs being created across the entire automotive supply chain. Around 40% of automotive employment in the country is located in the Eastern Cape,' the chamber said in a statement. DM
