Broad Based Black Economic Empowerment
The South African government’s strategy is to promote economic growth and to address the inequalities that exist in the country as a result of its political history. This has been termed Broad Based Black Economic Empowerment, and the objective of the strategy is to promote economic growth and transformation by giving previously disadvantaged racial groups access to resources and opportunities that were not available to them under the Apartheid regime.
CSC acknowledges it has a responsibility as corporate citizens, to contribute to the development of the communities within which it operates. As a South African BEE empowered IT Company, CSC is wholeheartedly committed to the South African government’s approach to transformation. For this reason, CSC concluded a BEE transaction in which it sold a 30 percent equity stake of its South African subsidiary to NMT Group Pty Ltd, a South African investment group focused on creating BEE opportunities in South Africa.
The objective of this deal was to create transformation inclusively with our partners through their support and contribution to our transformation process, with the ultimate goal of altering our business in a sustainable manner. The BEE agreement has resulted in CSC being able to expand its sales portfolio, thus creating opportunities for further investments and economic growth in South Africa.
CSC in South Africa believes that this commitment to BEE will provide opportunities to deliver innovative technologies and world-class services to organisations in Africa, thus contributing to growth in the South African economy.