This has been counted as the 5th consecutive year of an active contribution of investment of Samsung in the country South Africa….!! Samsung is augmenting its national transformation policies through Employment Equity, Enterprise Development and investment in education. This has contributed to the company’s Level-1 B-BBEE status for five consecutive years.
Samsung particularly building on its landmark multi-millionaire Equity Equivalent Investment Programme (EEIP), a tree years of embracing prohect. Samsung’s EEIP programme is expected to have a measurable impact on job creation with a projected contribution of over a billion rands to the South African economy at large.
Samsung mapped a decade plains of developmental aspects linked to the National Development Plan and the overall transformation of the local economy. The company’s EEIP programme has seen an investment in black, female-owned entities that now operate in the full value chain of e-Waste. Samsung also has a strong focus on enterprise development and capacity building in ICT through scarce skills development.
Samsung entered South Africa at the dawn of democracy
Samsung placed a great focus on harnessing the power of technology and innovation to effect great positive change when entered South Africa at the dawn of democracy. It also developing 4IR skills in partnership with a number of institutions of higher learning in South Africa.
Within Samsung’s ecosystem and value chain company has launched many skills development initiatives supporting university students studying in the same fields. South African youth are gaining artisanal and electronic skills with wide-ranging support of the country’s youth through bursaries, learnerships and the Samsung Engineering Academy programme.
Additionally, it is also looking forward to a future defined by equality and empowerment for all through these initiatives that have and continue to make an impact across the country and are aimed at developing the youth’s skills for employability.
Samsung encourages learners in South Africa
Samsung uncountable effortful educational programme that encourages learners in grades 10 and 11 from underserved communities the opportunity to gain invaluable skills while solving some of the challenges within their communities. For example, the Solve For Tomorrow competition is a Science, Technology, Engineering and Maths (STEM).
Lately launched, this competition is being piloted in 51 schools across the country. Learners are encouraged to use STEM in finding solutions to some of the most pressing societal challenges that are faced by their communities.
Additionally, the Samsung Innovation Campus programme partners with universities of technology to develop and teach coding, software development, internet of Things (IoT) and artificial intelligence (AI) skills to youth from under-serviced communities.
Hlubi Shivanda – Director of Business Operations and Innovation and Corporate Affairs at Samsung South Africa said:
“This incredible achievement of the Level 1–B-BBEE Rating for five consecutive years is a re-affirmation of Samsung’s commitment to prioritising B-BBEE as a non-negotiable practice within our businesses. The overarching goal of the country’s B-BBEE programme is the upliftment of the South African economy. As Samsung, we have over the years focused on policies that are designed to empower South Africans in meaningful ways. Our vision for the country is therefore closely aligned with the Government’s B-BBEE policy.”
Samsung goals and objectives to transform country
Samsung’s overall B-BBEE goals and objectives in order to transform country are clearly indicate enourmous achivement as it tent to be. The key focus areas of Samsung’s overall B-BBEE philosophy and strategy (excluding the Ownership element. Which is subject to EEIP) are centred on the following:
- The annual progression of race and gender representation at each occupational level. With specific emphasis on African Male and African Female representation.
- Increased focus on both employed learners and unemployed learners, supported by an emphasis on creating work experiences post the leadership/internship period. This is over and above Samsung’s EEIP commitments.
- Provision of education support through bursaries, both internally and externally.
- Continued focus on the development of black talent in the Samsung South Africa business.
- Re-directing existing spend to qualifying Black-Owned and Black-Women Owned (BWO) Qualifying Small Enterprises (“QSEs”) and Exempt Micro Enterprises (“EMEs”) to include them in the existing procurement value chain of Samsung South Africa with a focus on the following areas that have been approved – Marketing, Services, Sales, Logistics and Recruitment.
- Provision of grant and preferential loan funding to qualifying Enterprise Development beneficiaries. With the possibility of graduating them to become suppliers to Samsung South Africa.
- In addition to increasing spend with identified Supplier Development beneficiaries. The qualifying entities may be provided with grant and preferential loan funding.
- Education-focused Socio-Economic Development initiatives through the Samsung Innovation Campus and Solve For Tomorrow competition umbrella as furtherance of Samsung South Africa’s commitment to the upliftment of underserved communities.
Shivanda added in respect of the matter of country’s long-term goals
“Samsung knows that it is no small responsibility to realise the country’s long-term goals as this requires a collective effort from citizens, corporate organisations and government. At Samsung, we believe that transformation is a business imperative and a requirement for the sustainability of our business. However, we are also convinced that concerted transformation efforts can have incredible socio-economic impact and lasting change in the country’s economy.”
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