Unilever South Africa: Committed to enhancing the lives of the people of South Africa
Predicted spend over 2024 with mostly black-owned suppliers, including those that are small, medium and micro, is R3.2 billion
Unilever South Africa prides itself as a responsible corporate citizen. We are committed to enhancing the lives of the people of South Africa through meaningful and active corporate citizenship. We see BBBEE as a strategic and competitive advantage, as well as a moral and legal requirement.
Adopting BBBEE not only helps to uplift and change our country for the better, it strengthens our stakeholder partnerships, market opportunities and innovation. Investment by Unilever South Africa in businesses owned by previously disadvantaged groups encourages job creation, creates profitable and sustainable black-owned businesses and contributes to economic growth for the good of all South Africans, helping to close the wide economic disparities that persist.
Our predicted spend over 2024 with mostly black-owned suppliers, including those that are small, medium and micro, is R3.2 billion. This total spend represents an increase of over 20% year on year. Spend directly with QSEs (qualifying small enterprises) and EMEs (exempt micro enterprises) is R341 and R253 million respectively. We continue to drive investment support and spend with majority black-owned businesses, and look to further increase spend by R400 million in the current financial year.
We have established an enterprise and supplier development fund that supports the development of qualifying majority black-owned businesses by providing interest-free finance. This solves two core issues facing small businesses: their inability to access finance, and their ability to secure work from Unilever or get support to secure such work in the future.
The fund will provide R40 million worth of loans over a three-year period to approved enterprise and supplier partners, with the ultimate objective of creating sustainable black-owned businesses that provide growth, employ more South Africans and develop local initiatives which would otherwise not happen.
Our partnership with the Department for Basic Education has also been renewed. We will give R3 million worth of hygiene, disinfectant and oral products to public schools for five years.
Through these and other initiatives, Unilever South Africa aims to create a positive impact on society and the environment, while delivering value for our customers, consumers, employees, shareholders and other stakeholders.