Skip to content

Press Release

Altech achieves Level 2 B-BBEE contribution

JSE listed Allied Technologies Limited (Altech) is pleased to announce that it has achieved a consolidated Level 2 Broad-Based Black Economic Empowerment (B-BBEE) verification status by the National Empowerment Rating Agency (NERA), a SANAS Accredited Verification Agency. The verification was measured under the Information and Communication Technology (ICT) Charter against which industry members are rated on their B-BBEE progress.The scorecard is based on a combination of B-BBEE elements and weightings, consisting of ownership, management control, employment equity, skills development, preferential procurement and socio-economic development.The company achieved a 125% B-BEEE recognition level, with 33.76% black ownership and 14.24% black female ownership, and scored maximum points in the areas of ownership, skills development, enterprise development and socio-economic development. We are very proud to have achieved the status of a Level 2 B-BBEE rating which is a testament to our commitment to transformation and empowerment through skills enhancement, representative shareholding and widespread sustainable development of disadvantaged communities, said Craig Venter, Altech CEO.South Africa continues to face a major challenge with regard to the availability of skills in the ICT sector, particularly black female skills and we have addressed this challenge through our focus on developing a strong pipeline of internal skills through the Altech Academy, which, in the six years of its existence, has seen more than 500 employees graduate with qualifications ranging from certificate courses to Masters degrees in the Management of Technology and Innovation, he said.In 2013, 300 employees enrolled at the Altech Academy, representing 11% of our total permanent South African workforce and of these enrolees, 27% were black employees of which 8% were black females. In addition, we have invested more than R2 million per annum on the Altech Bursary Programme in which we provide bursaries to university students studying in the fields of engineering, computer science and commerce, he added.At the same time we spent in excess of 1,5% of our net profit towards socio economic development projects. I believe that all these initiatives are a clear indication of our commitment to advancing economic transformation and enhancing the economic participation of black people in the South African economy, he concluded.-ENDS-Notes to Editors:About Allied Technologies LimitedAllied Technologies Limited (Altech) is listed on the Johannesburg Stock Exchange (JSE).  The company focuses on the Telecommunications, Multi-media and Information Technology (TMT) industries and employs more than 3 580 employees in South Africa and abroad.As a leading South African multi-billion rand group, Altech is involved in the design, development and convergence of Telecommunications, Multi-media systems and IT solutions. For further information please contact:Craig VenterChief Executive Officer: AltechTel: +27 11 715 9004E-mail: cventer@altech.co.zaand/orShenanda Janse van RensburgGroup Executive: Marketing, PR & Communications – Altech Head OfficeTel: +27 11 715 9031Mobile: +27 84 777 1977Email: sjvrensburg@altech.co.zawww.altech.comJSE code: AL

Stay in the loop! Leave your email for exclusive updates and content.