EMPOWERMENT: Lion's Empowerment Progress
Recent Western Cape Business News
Cape Town's Lion of Africa Insurance Company has become the first insurance company to achieve a Level 1 Broad Based Black Economic Empowerment rating.
Having been measured on all 7 elements of the codes ownership, management control, employment equity, skills development, preferential procurement, enterprise development and corporate social investment - by SANAS accredited BEE-Matrix verification agency, the company received a BBBEE certificate to formally confirm this noteworthy status on 27 September 2010.
This latest achievement is a major milestone for Lion of Africa, which celebrates 10 years in business this year, and demonstrates the willingness by certain companies in the sector to engage in meaningful transformation.
CEO of Lion of Africa Insurance, Adam Samie, says that, for the company, transformation is not about mere compliance, but about contributing to the development of the previously disadvantaged people in our society to ensure our Country can achieve its economic goals on a sustainable basis to the benefit of all.
"Lion of Africa achieved Level 1 status due to a holistic approach to transformation and the empowerment of our society. This ideal, couple with fundamental improvements in the company?s preferential procurement, and enterprise development activities, has ensured that we remain the leaders in transformation in our market sector. We have also made substantial improvements in our employment equity and skills development programs, which lie at the heart of the company?s ongoing initiatives," says Mr. Samie.
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