Wednesday, 19 February 2025
22.7 C
Durban

BBEE Level 3 status for machine moving firm

Home Transport & Logistics Materials Handling BBEE Level 3 status for machine moving firm

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.”

Most Popular

Financial close reached on 175 GW short-term PPA

SAPPI Southern Africa and Enpower Trading have reached Financial Close on a five-year 175 GWh per year renewable energy Power Purchase Agreement (PPA). This...

Transnet taking steps to repurpose Lilly Pipeline for LNG market

TRANSNET Pipelines (TPL) has issued a Request for Proposals (RFP) inviting interested parties to enter into a Heads of Agreement (HOA) to secure pipeline...

State refinery issues invite to supplier open day

THE South African National Petroleum Company (SANPC), a subsidiary of the Central Energy Fund (CEF) has invited prospective bidders to a supplier open day...

Richards Bay LNG Terminal parties commit to deliver in 2028

RICHARDS Bay is gearing up to be the country’s industrial liquid fuel hub after Transnet National Ports Authority (TNPA) signed two strategic Terminal Operator...