Elegant Fuel’s ongoing commitment to empowerment received a boost today when the fuel wholesaler and distributor achieved level 2 broad-based black economic empowerment (B-BBEE) status.
“This is a huge affirmation for us given that empowerment has formed a cornerstone of Elegant’s business philosophy since we launched more than 10 years ago,” said director Ryno Strydom.
Elements that the company was scored on include ownership, management control, skills development, enterprise and supplier development, and socioeconomic development.
With the fuel giant’s improved status comes a preferential procurement recognition of 125%. This means that every supplier receives an additional 25% on any spend with Elegant Fuel. When the supplier is audited for B-BBEE purposes, this higher total is acknowledged.
The company’s level 2 B-BBEE accreditation positions Elegant in a more favourable position to do business within the industry.