Astute achieves top empowerment rating
Astute, the company that provides information exchange technology for financial advisers to access client policy information on-line, has achieved a Level 2, AAA rating from Empowerdex.
The Empowerdex verification report provides independent opinion on the broad-based black economic empowerment (BBBEE) status of Astute in terms of the department of Trade and Industry’s Codes of Good Practice. BBBEE is intended to redress the inequalities of the past by affording previously disadvantaged groups access to economic opportunities that were not available to them.
Said Astute Managing Director, Biddie Biddulph: “Having worked hard on the transformation of our business over the past few years, we are pleased with the empowerment rating awarded to Astute. The business performed well in terms of ownership, employment equity, preferential procurement, socio-economic development and corporate social investment.”
The BEE Act allows for the existence of the ‘Codes of Good Practice’ that provide structures for the scorecards and rules that apply to claiming BEE points.
“We believe the rating exemplifies our reputation for innovation and leadership in the fast-changing financial services sector. Significantly, Astute’s certificate also means that our customers can claim BEE points on their BEE scorecards when buying services from our business,” explained Biddulph.
There are different levels of BEE certificates, ranging from level eight to level one (level one being the highest), depending on the contributions each business has made to empowerment. The higher the BEE level achieved, the more BEE points the clients of a business can claim on their BEE scorecard for preferred procurement. This means that customers selecting a supplier are likely to look at price, quality and service, and BEE ratings.
