BLACK ECONOMIC EMPOWERMENT

BLACK ECONOMIC EMPOWERMENT RATING
AVIDITY ENERGY (Pty) Ltd BEE Rating: Level One (1) Contributor
Black ownership = 100%
Black Woman Ownership = 70%

BEE DEFINED
The Group has adopted the following definition of BEE:
The economic empowerment of all black people including women, workers, youth, people with disabilities and people living in rural areas, through diverse but integrated socio-economic strategies that include, but are not limited to:
-  increasing the number of black people that manage, own and control enterprises and productive assets
-  facilitating ownership and management of enterprises and productive assets by communities, workers, cooperatives
   and other collective enterprises
-  human resource and skills development
-  achieving equitable representation in all occupational categories and levels in the workforce
-  preferential procurement
-  investment in enterprises owned or managed by black people

TRANSFORMATION ROLE
Transformation in the workplace has become an inherent part of employment equity and skills development plans and there is an ongoing effort to create an environment that furthers diversity and instills a culture of equality. Avidity Energy (Pty) Ltd is highly committed to the transformation and empowerment of Historically Disadvantaged South African’s, Black Woman, youth owned companies inclusive of IeC Co-Operatives. Preference will always be given to Historically Disadvantaged South African’s not only as employees but also as Black Woman and youth owned companies inclusive of IeC Co-Operatives

GROUP OWNERSHIP
The Group is defined as a Black-owned enterprise in that BEE Effective Ownership, Control and Management exceeds 50.01%. The shareholding of the Group is 100% Woman Owned, 70% Black Owned

BLACK ECONOMIC EMPOWERMENT PROFILE
Avidity Energy (Pty) Ltd is a Black Economic Empowerment organization, totally committed to the development of people who were previously disadvantaged. Over eighty percent of all employees are members of previously disadvantaged communities, as defined in section 61 of the Employment Equity Act of 1997.

The development of people within the Company, supported by advanced management and work experience and a high, formal qualification average in senior levels - has created the current solid skills base of executives, managers, technicians, artisans and staff.