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Telkom leads BEE companies race
24 May 2004
Telecoms operator Telkom - in which the government still owns a 38.3% stake - has come out tops in a new survey ranking the most empowered companies on the JSE Securities Exchange (JSE).
The study, Top Empowerment Companies 2004, conducted by the Financial Mail in partnership with Johannesburg-based empowerment rating and research agency EmpowerDEX, surveyed all listed companies to compile a list of the top 200 most empowered companies on the JSE.
Each company was given an estimated empowerment score based on the Department of Trade and Industry's balanced empowerment scorecard, which assigns scores based on seven factors – ownership, management,
employment equity, skills development, affirmative procurement, enterprise development, and social development.
Telkom CEO
Sizwe Nxasana |
Telkom achieved top ranking with a strong showing across all seven criteria, earning it a final score of 69.78 out of a maximum of 100.
Second place went to diversified industrial company Sekunjalo, which has fishing, medical and financial interests. Sekunjalo scored strongly in management, ownership and affirmative procurement, racking up an overall score of 63.4.
Third place went to cellular telecoms company MTN, which scored well on management, ownership and employment equity.
"Black economic empowerment will dominate the corporate agenda for the foreseeable future", Financial Mail editor Caroline Southey said. "To date there has been a lack of information in the public domain about the true empowerment status of South Africa's major companies. Top Empowerment Companies is the first major undertaking to address that need."
SouthAfrica.info reporter
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ICT-E database of BEE firms
Local and foreign investors looking for black economic empowerment partners in the IT, telecoms and electronics sectors can now consult an updating online database of information on South African BEE companies. 
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