Romatex has achieved a new broad-based black economic empowerment (B-BBEE) accreditation in the latest assessment. We now hold a Level 2 B-BBEE certification, which brings numerous advantages to our stakeholders and customers. Romatex is one of the largest manufacturers of stitch-bonded non-woven material and various homeware products in South Africa.
As such, the businesses that purchase our materials and products can unlock certain benefits, such as increased government funding and a higher preference for tenders and contracts. B-BBEE was first introduced by the South African government in 2003 as an equality system. Its intention is to distribute wealth more equally across the spectrum of demographics – most importantly, those from previously disadvantaged communities.
In essence, the B-BBEE system assesses the percentage ownership and management of small-to-medium enterprises (SMEs) and large organisations. The representation of non-white people in business leadership positions ensures that wealth is distributed more fairly. Businesses are assessed by independent panels and are awarded points, depending on various criteria. These scores range from Level 1 (the highest) to Level 9 ‘Non-compliant’ (the lowest).
How the B-BBEE points are assigned
The accreditation level assigned to a business will determine the benefits that the company is entitled to, such as preferential consideration for public tenders and a bigger portion of funding, where businesses qualify. There are five criteria that the assessors take into consideration when assigning a B-BBEE score:
- Ownership (25 points) – What percentage of the business owners are non-white?
- Management control (15 points and 4 bonus points) – What percentage of the management comprises non-whites?
- Skills development (20 points and 5 bonus points) – What skills development and training opportunities are offered to employees?
- Enterprise and supplier development (40 points and 4 bonus points) – Does the business support other companies and suppliers that are B-BBEE rated?
- Socio-economic development (5 points) – Does the business contribute to the socio-economic development of its employees, community and country?
The points awarded by the assessors will determine the overall B-BBEE rating of the company. This is outlined below:
- 100+ points – Level 1
- 85 to 99 points – Level 2
- 75 to 84 points – Level 3
- 65 to 74 points – Level 4
- 55 to 64 points – Level 5
- 45 to 54 points – Level 6
- 40 to 44 points – Level 7
- 30 to 39 points – Level 8
- Less than 30 points – Non-compliant
Romatex is a Level 2 B-BBEE manufacturer and supplier
At Romatex, black ownership constitutes 69,13% of the business, of which 39,31% are black women. Likewise, a large portion of our overall management comprises non-whites. Romatex is owned by Deneb Investments Limited – a Hosken Consolidated Investments subsidiary (HCI). The B-BBEE accreditations of both of these companies also have an impact on our rating.
We believe that the development of our employees, as well as industry transformation on a larger scale, are essential steps toward a more inclusive economy and prosperous future for all. These initiatives benefit not only Romatex employees but our company as a whole.
As a Level 2 certified company, Romatex believes that these initiatives are beneficial to South Africans as they empower employees and make our society more equal. For more information on our various products and textiles, please contact us today.
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Romatex has been a leading manufacturer and supplier of homeware and textiles for over 50 years. Stitch-bonded non-woven materials now constitute 60% of the business and we can produce two million square metres per month. These materials are made from rPET, which helps to keep 54 million plastic bottles out of landfills each year.
Romatex is a Level 2 B-BBEE company that is owned by Deneb Investments Limited, a subsidiary of Hosken Consolidated Investments (HCI), which is listed on the Johannesburg Stock Exchange (JSE). Our head office is based in Cape Town but we have branches in Gauteng, KwaZulu-Natal, the Eastern Cape and the Free State.
For more information about our products, please contact info@romatex.co.za. Follow us on Facebook for our latest news and industry insights.
