;)
Nedbank Enterprise Supplier Development
Posted by Daniel Makhura on 10 May 2017 7:55 AM SAST
More information about the ESD of Nedbank
PREFERENTIAL PROCUREMENT AND ENTERPRISE AND SUPPLIER DEVELOPMENT Preferential procurement practice remain a key strategy for enabling transformation, job creation and community upliftment, and Nedbank’s policies are designed to maximise its contribution to broad-based business and societal empowerment. In terms of this policy purchases of goods and services can be made only from registered suppliers and within clear ethical guidelines, which include the key considerations of total cost of ownership; fit-for-purpose; top-quality products or services; ease of access and availability.
NEDBANK GROUP TRANSFORMATION REPORT (continued) environmental pragmatism; and effective risk management. Preference is also given to suitable local suppliers over foreign-based suppliers and a higher weighting is placed on SMEs and BO and BWO businesses. Diligent execution against Nedbank’s transformation strategy has led to increases in spend on BO companies to 22,85%, BWO organisations to 12,50% and SMEs to 16,65%. Enterprise development as a leading SA industry player, Nedbank has the responsibility of ensuring that companies owned by black people are given a platform to develop and grow their businesses within the Nedbank supply chain. Nedbank implements this philosophy, both by investing directly into the growth and development of businesses and by partnering with other initiatives that ensure that SMEs are able to prosper and become a key contributor to economic growth and job creation.
