The Group supports the principles embodied in the Codes of Good Practice of broad-based black economic empowerment (BBBEE), in particular Governmentís initiatives towards the transformation of the construction industry as contained in the Construction Sector Charter.
The Erbacon Group carries a level 4 BBBEE contributor rating. Medu Capital is Erbaconís BEE partner by way of a preference share subscription agreement concluded in September 2009. Medu Capital has a 25,68% economic interest in Erbacon.
All Erbacon Group companies have undergone BBBEE verification and significant progress has been made in respect of BEE scorecard ratings. Initiatives are currently in progress to optimise the organisational structures throughout the Group in an effort to ensure adherence to the Construction Code of Good Practice to foster real and sustainable progress on employment equity and skills development.
They are also involved in BEE initiatives involving joint ventures with black-owned companies.