We actively measure our progress against our own stringent performance goals, which extend above and beyond the benchmarked requirements of Government’s scorecard.We are extremely proud of the fact that Edge has achieved a Level 1 accreditation under the more stringent newly gazetted B-BBEE Generic Scorecard and Codes.
Edge Growth is classified as an Empowering Supplier, awarded with:
This has stemmed from not only having the intent to transform but also by translating this intent into specific goals over the last couple of years which we have worked hard to achieve. Our direct ownership drive, push for EE across Edge, work on the composition of our Board & Management team, EE intern approach, Social Economic Development, amongst other initiatives, have rewarded us with this outcome.
We recently welcomed the arrival of a new Director to the business and are proud to have set up the Edge Growth Employee Share Ownership Trust, established to benefit top black performers at Edge. Through these actions together with the addition of a new board member we were able to improve our voting rights in the entity in the hands of black people, as well as the exercisable voting rights in the entity in the hands of black women, and also the economic interest in the entity to which black women are entitled. These improvements led to us achieving a score of 25.1 out of a possible 25 for this pillar.
Edge is now 33%-owned by equity shareholders including VUWA and Agrisense. In addition, joint ventures are being targeted to bring innovative black-owned offerings to market. One of our highest priorities over the next 12-18 months is for Edge to become a black-owned business. We are in the process of exploring the opportunities open to us and will be looking for the most synergistic and value-adding deal in order to take Edge to the next level successfully.
As a result of our transformation strategy to improve black representation across middle and junior management, we achieved a score of 10.1 out of a possible 15 on the Management Control pillar.
60% of Edge’s 8 board seats are held by blacks and 3 by black females.
Following on from our transformation strategy we will continue to look at ways of promoting young black talent into managerial roles across Edge. The target is to reach the 50% within the next 24 months.
Each of our business units has its own employment equity plan aimed at increasing the representation of black employees and nurturing young black female talent across all levels especially in management. At present, the overall Edge team comprises of 60% black individuals, with no single business unit likely to be below the 40% sub-minimum during 2016.
The transition of the Management team is therefore our focus, coming off a zero base at the inception of Edge we are now at 20% with a target of over 50% within the next 2 years.
Recognising that our employees are key contributors to our growth and success, both historically and in the future, we provide regular and on-going skills training and development programmes in every aspect and at every level of the business. Our internship programme also targets top young black talent as we endeavour as far as possible to convert these internships into meaningful and impactful permanent employment opportunities both at Edge and externally.
We will continue to energise and empower our staff through our in-house training schedule as well as the promotion of external sources of learning. We will also continue to capitalise on absorbing black talent post learnerships and should a position in Edge not be available we will promote these individuals to other businesses and industries.
At Edge we are very intentional around who we spend our money with. We place emphasis on seeking reliable suppliers who are at least 51% black owned and look to create even more jobs as a result of Supplier Development and ED initiatives.
Our own Enterprise Development lives at the heart of the Edge Action fund, having seeded the fund with an R3m unsecured, interest free loan. In addition to this and in respect of preferential procurement our accredited spend percentage exceeds 60% with Black Woman Owned businesses remaining a particular focus area for on-going improvement as we grow as a business.
We currently provide both financial and non-financial support to 2 local initiatives – Nanga Vhutshilo (JHB) and Just Grace (CT), with ongoing engagement initiatives throughout the year.
Partnering with a Level 1 Empowering Supplier such as Edge means that 135% of any payment to Edge for services delivered can be claimed as B-BBEE Procurement spend.
Edge Growth is accredited in the capacity of Fund Manager for Enterprise and Supplier Development Funds. As such, we are recognised as being expertly equipped to advise independent funds on how to best invest capital related to Enterprise Development.
With the B-BBEE codes mandating that large corporations commit a minimum 3% spend of profits to investment in the development of local small and medium enterprises, Edge Growth provides and acts as advisors to a number of fund vehicles structured around strategic Enterprise Development.
Our role includes the sourcing, assessment and selection of high-potential SMEs for investment on behalf of Trustees as well as the provision of any critical non-financial support post investment to ensure that each SME’s performance is optimised.
Edge screens 300 SMEs, shortlisting 30 high-potential SMEs suitable for growth support.Read More