Movius Achieves LEVEL 2 AAA Rating for B-BBEE Standards in South Africa- Again!

For business ventures to be successful in South Africa compliance with B-BBEE standards (Broad-Based Black Economic Empowerment) is CRITICAL. Today we have achieved another significant milestone for our business in South Africa!

Background on B-BBEE

B-BBEE requirements were introduced during the mid 90’s after the appointment of a democratic government in South Africa, and stem back to the release of Nelson Mandela and the African National Congress coming to power. These standards are the underlying scoring system enforced in government programs designed to create more opportunity and foster entrepreneurship for PDI’s (previously disadvantaged individuals). B-BBEE scores are taken very seriously, and determine which businesses qualify to do business in South Africa.

What is B-BBEE?

B-BBEE or Broad Based Black Economic Empowerment is a drive by the South African government to encourage companies to empower black people including:

• Black ownership, management and employment equity

• Skills development of black employees

• Procurement of raw materials, products and services from companies with a good BBBEE rating

• Investing in black enterprises

• Assisting the black community through socio-economic projects

Movius’ Rating

Movius Achieved LEVEL 2 AAA Rating for B-BBEE Standards in South Africa for the second year running! This is a great achievement and very difficult to obtain especially since Movius South Africa is a subsidiary of Movius Interactive Corporation headquartered in the United States. Our score card improved this year from 86.54 to 87.37 out of 100 possible points. This rating places us above our local peers and competitors by a large margin and demonstrates Movius’ commitment to the local market and excellence in achievement when measured against the required standards.

What does level 2 AAA rating mean for Movius?

• To do business with top South African operators such as MTN, Vodacom, Cell C, Telkom and Neotel, the B-BBEE certification is now mandatory. We have systems installed in all of these operators and they cannot contract with companies that are not BEE certified

• This rating allows our customers to attribute 125% of their spend with Movius toward their own BEE rating. BEE is a regulatory requirement. A high BEE rating is therefore a massive advantage in tender or bid situations

• Our local customers all have BEE as a key qualifying factor in their KPI’s for any business discussion at all. Our support agreement with MTN SA could not and would not be renewed without Movius BEE certification.

This achievement opens more doors for Movius to do business with any South African based operator and to be favored in their procurement processes. Finally, it is recognition that Movius is an active contributor giving back to the development of this great country!