Groovin Nchabalang, CEO of advertising and communications firm Blueprint, says that BEE can be used positively and persuasively as part of the company branding exercise and should be viewed as an important development not only for the good of the country, but also as a marketing tool to increase sales.
Alongside equity, the most critical component of BEE from an ownership aspect, is the element of transformation "and that includes skills-building, especially in making sure that the skills pool is deepened in the empowerment process," says Nchabaleng.
"This is manifest when people invest in a company, they do so not only with financial capital, but with skills capital as well so that the added value is as strong as it can be in all-round performance."
Nchabaleng believes that current opportunities do not solely reflect the South African perspective but are increasingly appearing in the African region and further afield and companies must be strong enough in all departments to stake a claim in the broader scheme of things: "If your house does not have solid foundations with the necessary support, it will be difficult for you to expand overborder and overseas.
Nchabalang worries about the proliferation of so-called BEE consultants, many of whom "are not worth the cost of a telephone call".
"BEE is a hot topic and people are taking advantage of the many opportunities that seem to surface daily. These apparent experts are everywhere offering advice on marketing and legal aspects, and all claim they know just the right BEE partners for just about any enterprise you can imagine. Just be careful and get good advice from experienced people."
To make the most of the branding opportunities that arise with BEE application, Nchabaleng sees a sensitive blending in the way companies tell the world of their transformation and their commitment to it, and how the process added value and enriched prospects in the road ahead.
"Most importantly, BEE is about making a commitment and that the company is serious about its transformation. And that's something that South Africans should know about."
