DSM Broad-Based Black Economic Empowerment Strategy

Broad-Based Black Economic Empowerment (BBBEE) is a strategy aimed at redressing the marginalisation of the black majority by substantially increasing access to and use of productive assets across all sectors of the economy whilst at the same time increasing South Africa’s growth prospects.

In the past few years there has been an escalation of national emphasis on BBBEE. This has been evident through Government’s introduction of various pieces of legislation, policy guidelines and position papers all which demand its organs to play a particular role in promoting BBBEE. Consequently, the private sector has come under increased pressure to comply with government dictates and efforts of BBBEE pressure groups. This has been coupled with increased expectations with regard to the responsibility and role of the private sector in meeting national goals of social and economic transformation. The private sector has responded by instituting industry transformation charters that set out how different industries will deal with BBBEE.

DSM Nutritional Products South Africa is positively promoting transformation within South Africa through compliance with the Codes of Good Practice and through support of BEE-compliant suppliers. This is and will be achieved thorough the following steps:

• DSM Nutritional Products South Africa falls within the chemicals sector.

• DSM's aim is to contribute towards BBBEE and show its real commitment to its employees and customers.

• DSM as a progressive company wants to embrace the principles of transformation and broad-based black economic empowerment to show their commitment to the country.

• DSM has developed policies that incorporate some of the elements of broad-based black economic empowerment.

• DSM will ensure that the company obtains a verified BEE rating certificate from an accredited agency.

Review current policies on the following:

• Employment equity

• HRD strategies

• Procurement/preferential procurement

• Equity and control

• Corporate social investment

Develop the following policies:

• Preferential procurement;

• Employment Equity and

• Corporate Social Investment.

• Obtaining a verified BEE rating certificate from an accredited agency.