Samsung's Commitment to South Africa Drives 5th Year of Level-1 B-BBEE Status

Samsung, a global technology leader, is pleased to announce that it has achieved Level-1 Broad-Based Black Economic Empowerment (B-BBEE) status in South Africa for the fifth consecutive year. This accomplishment reflects the company’s ongoing investment in the country, as well as its dedication to fostering economic transformation and contributing to the local economy.

Samsung’s Level-1 B-BBEE recognition is the result of its extensive efforts in various empowerment, entrepreneurial, and skills-based projects in the information and communication technology (ICT) sector. Through initiatives such as employment equity, enterprise development, and educational investments, the company actively supports South Africa’s national transformation policies. Notably, Samsung’s Equity Equivalent Investment Programme (EEIP), a multi-millionaire venture, has played a significant role in this sustained success, which has now lasted three years.

Samsung’s EEIP programme, which was launched in May 2019, aims to have a measurable impact on job creation, with a projected contribution of more than one billion rands to the South African economy. The company’s ten-year plan addresses key developmental aspects while aligning with the National Development Plan and the country’s overall economic transformation.

Samsung has invested in black, female-owned businesses operating across the entire e-waste value chain through the EEIP programme. In addition, the company prioritises enterprise development and capacity building in ICT, with a focus on the development of scarce skills. Since its entry into South Africa at the dawn of democracy, Samsung has worked to harness the power of technology and innovation to drive positive change in the country. As a result, Samsung has made significant progress toward realising its long-term vision for South Africa, including fostering Fourth Industrial Revolution (4IR) skills through collaborations with higher education institutions.

Samsung has launched a number of skill development initiatives, not only for internal employees but also for university students interested in fields within Samsung’s ecosystem and value chain. Through bursaries, leadership, and the Samsung Engineering Academy programme, the company supports South African youth by providing them with artisanal and electronic skills that will help them find work. These initiatives have had a significant national impact and contribute to the empowerment and skill development of the country’s youth.

The Solve for Tomorrow competition, which aligns with Science, Technology, Engineering, and Mathematics (STEM) subjects, is one notable educational programme. This competition invites students in grades 10 and 11 from underserved communities to use their skills to address issues in their communities. Currently being piloted in 51 schools across the country, Solve for Tomorrow encourages learners to use their EM knowledge to find innovative solutions to societal issues.

Furthermore, the Samsung Innovation Campus programme collaborates with universities of technology to teach coding, software development, the Internet of Things (IoT), and artificial intelligence (AI) skills to youth from underprivileged communities.

“This incredible achievement of the Level 1-B-BBEE Rating for five consecutive years is a re-affirmation of Samsung’s commitment to prioritising B-BBEE as a non-negotiable practise within our businesses,” said Hlubi Shivanda, Director of Business Operations and Innovation and Corporate Affairs at Samsung South Africa. Samsung’s vision is closely aligned with the government’s B-BBEE policy, with a focus on meaningfully empowering South Africans and boosting the country’s economy.

Samsung’s transformation efforts contribute significantly to South Africa’s overall B-BBEE goals. The company’s B-BBEE philosophy and strategy cover a wide range of topics, including the annual progression of race and gender representation at each occupational level, with an emphasis on African male and African female representation. Samsung also gives equal weight to employed and unemployed students, emphasising work experiences beyond the leadership/internship period. Education support

Bursaries, both internal and external, continue to be an important part of the company’s strategy, as does the development of black talent within Samsung South Africa. In addition, the company redirects its spending to support qualifying black-owned and black women-owned small businesses, increasing their inclusion in Samsung South Africa’s procurement value chain.