CZ Electronics announced that it has become the first high-volume contract manufacturer in the country to attain a Level 3 BBBEE status. This status was recently awarded to the company in a joint audit by the CBI (an initiative by the Dutch government to stimulate exports from developing countries to the EU) and the department of trade and industry. The company scored high in the critical categories of black ownership and, more importantly, black female ownership, through its holding company Community Investment Ventures (CIV).
Directors Sagran Pillay (CEO – left) and Rob Bruggeman (COO) show off CZ Electronics’ Level 3 BBBEE certificate
CIV is a broad-based black investment company that invests heavily in technology-based companies such as Muvoni Weltex, Dark Fibre Africa, Clearline, Ferrotech, Dartcom, MCT and CZ Electronics. This new status is expected to benefit CZ Electronics enormously, and the shareholders look forward to increased business in the critical areas of government infrastructure spending. The advantages are numerous, and include the benefit of raising third-party customer BBBEE profiles.
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