Caliba are fully committed to the objectives of Broad-Based Black Economic Empowerment (B-BBEE) and as such we have made meaningful organisational changes to embrace the spirit of B-BBEE. As of the 1st December 2018, Caliba has completed a B-BBEE transaction for its South African operations. As a result, Caliba is now a 51% Black Owned and 30% Black Woman Owned Qualifying Small Enterprise (‘QSE’) in South Africa and a Level Two B-BBEE contributor.
Caliba’s new majority shareholders are Ditikeni Investment Company Limited (www.ditikeni.co.za), who are 98% Black Owned and 62% Black Women Owned. Ditikeni is a Black Economic Empowerment investment holding company which was formed in 1999 and which retains 18 investments currently. Ditikeni’s shareholders are today all Public Benefit Organisations registered with SARS who work in over 200 poor, black communities nation-wide with over 2 million beneficiaries, located in every province of South Africa. Caliba also has a new minority shareholder in Adept Group (Pty) Ltd, who are 13.4% Black Owned and a Level Two B-BBBEE contributor.
Social impact matters to Caliba. Just as the clients we work with have strong social values, our shareholders need to be representative of our society and need to make a meaningful impact on local communities. Ditikeni and Adept do just this with their ownership structure and commitment to social programmes across South Africa.
What does this mean for Caliba in 2019?
Caliba is extremely optimistic about the recent South African transaction and its new South African ownership. Caliba believes that this empowered ownership will not only have positive social impacts on communities across South Africa but will also boost the strategic direction and decision making of the business, as a major part of Caliba’s pragmatic growth and sustainability strategy.
Recently proposed amendments to the B-BBEE Codes (mid-2018) propose to further enhance the opportunities for 51% black-owned companies by establishing additional incentives for companies to procure from 51% black-owned suppliers, thereby strengthening the strategic value for a company such as Caliba to be 51% black-owned.
Whenever socially conscious companies merge, we believe a virtuous cycle is created. The broadening of Caliba’s business network and reach through Ditikeni and Adept’s shareholding will lead to more business. This in turn leads to better funded Public Benefit Organisations through Ditikeni, as well as further social investment through Adept’s B-BBEE initiatives. This again leads to enhanced goodwill and reputation, and more business for Caliba.
We look forward to strengthening our existing relationships with corporate clients in South Africa, and to developing new relationships to grow our business as a black-owned supplier.