Domain Name Services has embarked on a transformation journey that would see the company moving from a non-compliant status to a level 4 B-BBEE status according to the Amended B-BBEE ICT codes over the next 12 month period.
The Elements of B-BBEE in terms of the Scorecard:
- The Ownership Element, measures the effective ownership of enterprises by Black People.
- The Management Control Element, measures the effective control of enterprises by Black People.
- The Skills Development Element, measures the extent to which employers carry out initiatives designed to develop the competencies of Black People.
- The Enterprise and Supplier Development Element, measures the extent to which Enterprises carry out initiatives intended to assist and accelerate the development and sustainability of other enterprises that are at least 51% Black Owned.
- The Socio-Economic Development (SED), measures the extent to which enterprises carry out general and ICT sector specific initiatives that contribute towards SED and that promote access to the economy for black people. All SED spend must be on ICT Sector Specific Initiatives.
DNS as a Qualifying Small Enterprise (QSE), a company with a turnover of less than R50 million per annum, would be required to select two (2) priority elements that it needs to fulfil, whereby a sub-minimum of 40% of the total targets set out in the scorecard. DNS has chosen to the ownership and skills development elements of the scorecard.
Ownership is the state of exclusive right and control over an asset. The criteria to determine ownership is the right and economic interest that lie with the asset. DNS believes that by transforming the ownership structure of the company contributes towards the inclusion of the previously excluded black people into the mainstream economy within the ICT space. The concept of ownership goes a little further than just rights and control, it speaks to economic benefit.
Why Skills Development?
Skills development is the process of improving the skills and knowledge of the South African workforce in order to enhance their capabilities and improve productivity. This will invariably lead to improved job or self-employment prospects therefore the improved quality of life.