CYBER1 subsidiary in South Africa achieves B-BBEE Level 1 award
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Informationsteknik |
| Industri | Programvara |
Stockholm, Sweden – 13th November 2023 – CYBER1’s largest subsidiary CYBER1 Solutions South Africa, has announced its recent attainment of a B-BBEE (Broad-Based Black Economic Empowerment) Level 1 status.
B-BBEE is a vital framework in South Africa, designed to address historical inequalities and promote economic
transformation. The rating system ranges from Level 8 (the lowest) to Level 1 (the highest), with Level 1
indicating the highest commitment to empowerment and diversity. This achievement demonstrates CYBER1 and
its subsidiaries dedication to advancing the economic empowerment of previously disadvantaged groups and
fostering inclusivity.
B-BBEE Level 1 status is measured under the amended Code of Good Practice and consists of five elements:
ownership, management control, skills development, enterprise and supplier development and socio-economic
development.
Key Positives and Impact of B-BBEE Level 1 Certification for CYBER1 Solutions SA:
• Enhanced Market Access: B-BBEE Level 1 certification significantly improves CYBER1 Solutions SA's market
access in South Africa. Many government and private sector organisations give preference to suppliers with
high B-BBEE ratings, creating new opportunities for business growth and partnerships.
• Strengthened Reputation: Achieving Level 1 certification reinforces CYBER1 Solutions SA's reputation as a
socially responsible and inclusive organization. European investors and clients, who may be unfamiliar with
B-BBEE, will recognise the commitment to transformation and fairness.
• Improved Competitive Advantage: CYBER1 Solutions SA gains a distinct competitive advantage in a market
where B-BBEE compliance is increasingly important. This certification will set the company apart from
competitors, attracting new customers and investors.
• Broadened Supplier Network: As a Level 1 B-BBEE certified company, CYBER1 Solutions SA will have access
to a wider network of empowered suppliers, reducing costs and enhancing supply chain efficiency.
• Social Responsibility: The achievement of B-BBEE Level 1 demonstrates CYBER1 Solutions SA's commitment
to corporate social responsibility, making a positive impact on South African society and aligning with global
sustainability goals.
Managing Director of CYBER1 Solutions South Africa, Jayson O'Reilly commented on the Level 1 certification:
“Having been in business for 26 years, we view earning B-BBEE level-1 status as a testament to our
commitment to transformation; and to being a responsible corporate citizen in South Africa. It demonstrates a
commitment to the principles of equality and inclusivity and shows that an organisation is actively working to
eradicate racial disparities by providing opportunities and support to historically marginalised communities.
This is a powerful step towards achieving a more equitable society.”