a transformed South African company
Pragma is proud of our status as a Level 1 BBBEE contributor.
Our transformation efforts are led by our subsidiary Pragma Africa, and address each of the five pillars of BBBEE: ownership, management control, skills development, enterprise and supplier development (ESD) and socio-economic development.
Our stunning transformation achievement has been achieved by appointing champions to drive each area of the BBBEE scorecard and ensure that BBBEE plans are embraced and actioned throughout the organisation. Issues of diversity are referred to the Consultative Forum, a group peopled by representatives from all areas of the organisation. The Forum meets every quarter and its findings form the basis for our policies and procedures.
Pragma established Pragma Africa Employee BEE Trust as a vehicle to drive black ownership in our company. The Trust indirectly holds a 25% stake in Pragma Africa. Through this structure, we have placed 40% of the equity of the Trust in the hands of black women and 51% in the hands of black employees. All South African full-time employees are considered beneficiaries of the Trust, regardless of race.
Pragma is addressing diversity and representation at a senior executive level with the appointment of key executives of colour to the Pragma Board. We have also identified individuals at middle management level in who we are investing from a development perspective.
Preferential procurement is a notorious challenge in the asset management industry due to the dearth of black- and women-owned enterprises.
We have overcome this obstacle by plumbing our business networks to identify suppliers of a high calibre and the right credentials. We also partner with existing service providers, helping them to improve their BBBEE status.
In addition to our formal student training programme, which runs in June and July each year and targets engineering students in their third and fourth year of study, Pragma invites students from universities of technology to complete six-month practical training at our Asset Care Centre offices. We also upskill students and learners through our Pragma Academy.
Because we believe it is crucial to address the industry’s skill shortage, Pragma Africa offers bursaries to students at Masters level. We are also focused on increasing participation from women, and with this in mind we work with schools to promote awareness of engineering as a career.
We have selected youth development as a core focus for socio-economic development, with a special emphasis on education in maths and science. Our goal is to help youth gain access to the economy. Our policy is to invite our employees to choose the initiatives they would like to support, so that our involvement takes on a personal meaning for them.