This year, the award was not based on the number of/or value of deals,
but rather on the evaluation of selected projects based on the seven
criteria of the balanced scorecard of the BEE Codes of Good Practice,
which is in line with the IDC’s strategic direction.
 |
Mr J Sikhakhane from Business
Report presented
the award to IDC’s
Ufikile Khumalo |
Razco Plastics MD Mr Osman received the
"Top Black Business Award".
Razco Plastics is an IDC client. |
The annual BusinessMap Foundation
Empowerment Awards ceremony saw the IDC
receiving acknowledgement as the best
Development Finance Institution in the
empowerment arena. The organization
scooped the “Top Development Financier
of BEE” award for the third year running.
This year, the award was not based on
the number of/or value of deals, but
rather on the evaluation of selected
projects based on the seven criteria of
the balanced scorecard of the BEE Codes
of Good Practice, which informs the IDC’s
strategic direction. Accepting the award
on behalf of the IDC at the prestigious
gala awards event was Ufikile Khumalo,
Divisional Executive Resources Sectors.
The Awards also provided further cause
for celebration with the announcement
of one of the IDC’s Chemtex Strategic
Business Unit clients, Razco Plastics,
winning the “Top Black Business” award.
Two other IDC clients were also finalists
in this award category, with Ntuso
Holdings and Sobengwe achieving joint
second place. Congratulations are
extended to all three companies on
their achievements.
The Business Map Foundation
Empowerment Awards were launched
in 2000, growing in stature year on
year, to their current status as a major
feature of the empowerment calendar,
attracting the participation of 450
guests, including many of the
country’s leading empowerment
figures, at the annual awards
ceremony. The 2007 awards have seen
a number of changes to the original
initiative. The new “Top Black Business”
award has been introduced to
recognise an enterprise owned and
operated by black people. In addition,
the new “Top Public Sector
Transformer” award has been
established to recognize a
government department or
institution. Three previous awards
have been consolidated into one new
award, the “Top BEE Partnership”,
which recognizes a black and white
partnership whether listed or unlisted.
The awards for “Top Business Leader”,
“Top BEE Deal”, “Top Commercial
Financier” and “Top Development
Financier” have remained due to their
popularity and continuing relevance.
Other 2007 award winners were Eskom
(Top Public Sector Transformer), DTI
(Top Public Sector Transformer,
Government Department), Sekunjalo
Investments and Bioclones (Top BEE
Partnership), Standard Bank (Top
Commercial Financier of BEE), Royal
Bafokeng Holdings and Impala Platinum
Holdings (Top BEE Deal) and DTI (Top
BEE Leader).
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