REGISTERED auditors MSCT BEE Services has awarded rigging company Lovemore Bros with Level 3 broad-based black economic empowerment (BBBEE) status.
Joint CEO Rob Lovemore said the accreditation, achieved thanks to the company’s association with black-owned development specialist company Engeli, means customers can obtain more value out of their procurement spend when contracting the company to undertake its heavy machinery work.
A 51% black-owned company, Engeli has various related accreditations including being duly accredited as a black private equity fund manager under the Amended BBBEE Codes of Good Practise and a registered financial services provider with the Financial Sector Coduct Authority (FSCA). The company is also 46.4% black-women owned and a Level 2 contributor.
“Engeli incorporates BBBEE best practice to deliver a synergistic approach necessary to grow and sustain businesses in support of wealth and job creation.”
Lovemore said Lovemore Bros, with offices in Durban, Richards Bay and Johannesburg, offers clients “substantial operating capacity” via its crane truck and low bed fleet and its warehousing infrastructure.
“Level 3 rating will also benefit companies conducting business with Lovemore Bros including active participation in the government’s preferential procurement policy, qualifying for government tender contracts and a competitive edge in the industry.”
