The 2005 BusinessMap/Business Report Black Economic Empowerment (BEE) Awards were announced in Sandton on Thursday night, with the prestigious BEE deal of the year going to Grasslands Development Trust’s purchase of 100% of Grasslands Agriculture.
The awards celebrate the top achievers in BEE.
In assessing the deal of the year category, the judges’ panel took the view that empowerment influence and control should be a key aspect of an empowerment deal, while the deal structure should also contain incentives or agreements to support strategic or operational involvement of the BEE partners.
Grasslands provides broad-based training to all employees and beneficiaries on technical farming topics as well as basic business principles and self-development, according to the Grassland Development Trust’s chief executive, Trevor Elliot.
The awards — sponsored by Anglo American, Rand Merchant Bank and Business Report — were handed out in seven categories.
Clothing retailer LA Group was named the top market performer of the year, while the BEE unlisted company award went to adverting agency HerdBuoys McCann-Erickson.
Futuregrowth Asset Management scooped the most progressive company award, which is designed to give recognition to traditionally “white” businesses for their empowerment initiatives.
Last year’s most progressive company, Investec, this year secured the top commercial financier award.
The top development financier award was won by the Industrial Development Corporation, while Public Investment Commissioners CEO Brian Molefe earned the BEE leader of the year award.
Previous individual winners are Minister of Minerals and Energy Phumzile Mlambo-Ngcuka and directors of companies Saki Macozoma, Patrice Motsepe, Cyril Ramaphosa and Bernard Swanepoel. — I-Net Bridge