Growthpoint Properties has significantly improved its Broad-Based Black Economic Empowerment (B-BBEE) performance, becoming the first JSE-listed REIT to achieve a Level One B-BBEE Contributor certification according to Property Sector Codes and, joining the select handful of listed companies to have achieved South Africa’s highest transformation rating.
Six years ago, at the beginning of 2015, the REIT had a Level 6 B-BBEE rating. Now, in 2021, Growthpoint’s Level 1 B-BBEE rating shows its success in accomplishing transformation at ownership level. It also reflects transformational impacts through learning programmes, procurement spend, and enterprise and supplier development.
“Growthpoint is committed to transforming South Africa and empowering South Africans. We have worked hard to take our transformation journey forward and improve. As a company, we believe in doing the right thing and strive to improve the social and material wellbeing of individuals and communities so all participants in South African society can thrive. Growthpoint is playing its part in economic and social transformation and will continue to make empowerment a priority” comments Estienne de Klerk, SA CEO of Growthpoint Properties.
Shawn Theunissen, Growthpoint’s head of Corporate Social Responsibility and Transformation, says, “As the largest primary South African listed property company, Growthpoint is in a unique position to create meaningful transformation across our business, within the property industry and beyond. Our progress in transformation also furthers our clients’ procurement programmes. Growthpoint’s new rating gives us a 135% B-BBEE procurement recognition level and will support our tenants’ and third-party development clients’ procurement scorecards too”.
Honeycomb BEE Ratings certified Growthpoint Property Services’ B-BBEE rating in line with the Property Sector Codes.