Bidcorp, as a JSE listed company, is committed to transformation and the building of a sustainable South African economy. The board maintains its commitment to diversity as a strategic imperative, as demonstrated through ongoing compliance to the robust board policy on the promotion of gender and race diversity.
Bidcorp Food Africa continues to invest significantly in its transformation journey. The impact of the preferential procurement requirements within the revised B-BBEE codes has proven to be a challenge. An increasing number of their larger suppliers have been negatively impacted by the revised codes, many of them even now non-compliant, with limited alternate suppliers available in the market. Businesses are actively investing in the development and transformation of our supply chain; however these initiatives take time. We anticipate this procurement challenge to worsen before we are likely to be able to reap the benefits of a transformed supply chain through enterprise and supplier development initiatives, not just of our own, but of the broader sector and allied disciplines. People development is supported by substantial training investment and every year a growing number of previously disadvantaged employee candidates are selected and prepared for higher responsibility. These initiatives continue to contribute significantly to our succession planning efforts and material improvements in workforce diversity.
The YES programme has been successfully implemented in the South African business. Bidfood South Africa annually takes on YES candidates, presenting each candidate with an opportunity to immerse themselves in the business and various aspects of its operations. Socio-economic development remains an area within which the Bidcorp Food Africa businesses excel, recognised for their efforts by far exceeding the expectations of the B-BBEE scorecard.
Bidcorp's goal remains the implementation of a sustainable long-term transformation programme, embracing commercially impactful solutions.