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August 6, 2009
Student Village's BBBEE rating earns bonus points for clients...
Student Village, South Africa's premier youth marketing services provider, has upped the ante on its BBBEE status and is now a Level 3 contributor, which is good news for new and existing clients. It is the first time that Student Village has taken up the BBBEE gauntlet and CEO, Ronen Aires, explains that: "We're into empowering our people, it's ingrained in our corporate culture so getting the rating was an affirmation of our culture. We didn't do it just to get more business or to be aligned with the law. We did it because we believe in the principle."
As the BBBEE rating of a company's supplier affects the amount of expenditure that that company can claim as being from a BBBEE supplier when calculating their own preferential procurement points, the higher the supplier's rating the more of that spend the company can claim. Says Ronen: "Quite simply, what this means is that when a client signs up with us for a marketing solution to reach their target youth audience, they will be able to claim that spend, plus gain bonus points - as we are now what is termed a 'preferential supplier'. So, for example, if they spend R10,000 with us, they will be eligible to claim back R11,000, as our Level 3 rating means that their spend recognition at the end of the day will be 110%."
Posted by StaffWriter at August 6, 2009 3:11 PM