BEE Strategy

South Africa is forging a new economy with which to earn its' rightful place in the global market place. Farsighted strategies of Government and the private sector are galvanizing the process to redress past imbalances and synergise the nation's determination to be world class.

Mid East recognizes the burning desire of South Africans to be masters of their own destinies and to profit from the energy invested in their endeavours. We believe that the company will play a valuable role in helping to build a thriving nation.

Black Economic Empowerment is a business imperative for Mid East. It forms an integral part of our business policies, practices and procedures. We believe that the company will only prosper if the community in which we live and work is united in purpose and shares in the benefits of an economy that recognizes and nurtures talent, hard work and a commitment to service excellence.

In order to benefit people who were previously denied education, opportunities and access to fully participate in economic life, a trust has been established, catering specifically to this group of people. 26% of the companies' shares have been allocated to this trust, and will be managed by employee representatives. The trust will carry voting power in any shareholder meetings, and a portion of the dividends will be utilized to recoup the cost of these shares. The remainder of the dividends will be divided up amongst the staff, based on years service. These funds can be utilized in any way deemed acceptable by each individual, but the company places special emphasis on education, development and asset procurement. The aim of the trust is to empower all previously disadvantaged individuals economically, and to ensure consistency in the labour force, along with ensuring that each and every individual remains focused on the most efficient service delivery possible.

Running alongside this economic empowerment is the development strategy. This strategy focuses on skills development and knowledge transfer. In the medium to long term, this plan endeavours to empower previously disadvantaged individuals to the point where they can be in a position to run their own contracting business. Selected individuals will attend courses offered through the ECA (Electrical Contractors Association) to attain the correct qualifications as stipulated for operation as a legal contractor. Along with this is the sharing of knowledge from Mid East with regards to the business operation, ensuring a well rounded, economically sustainable and individual training and business plan. This strategy will ensure that skills development and knowledge sharing is a continuous and sustainable elevation of the current knowledge base.

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