The B-BBEE integration programme was launched by the South African government to address the inequalities of apartheid. Through its active participation, Swiss Re is contributing to driving economic inclusion and opening up opportunities for previously disadvantaged people across the country.
While being a shining example of Swiss Re’s global Diversity, Equity & Inclusion efforts, this achievement also demonstrates the company’s commitment to its local markets. Swiss Re has a long history of prioritising the socio-economic development of South Africans in the way it conducts business. As such, the Swiss Re Africa team went the extra mile to support this important local social initiative and secured the top rating within a very short timeframe.
Swiss Re Africa is now leading the way in this area by promoting social integration, education and professional enablement programmes in South Africa. Key initiatives include procuring the services of local SMEs and supporting their business development, hiring ethnically diverse staff at all levels of seniority and spearheading skills development for youth.
For example, Swiss Re is among a group of businesses that coaches school principals from under-resourced schools in a bid to strengthen education in underprivileged communities.
The B-BBEE Level 1 rating not only benefits Swiss Re and the community in which we operate, it is also advantageous for our clients. Those who conduct business with Swiss Re can claim 135% of their reinsurance spend under their Preferential Procurement scorecard and thus boost their own B-BBEE rating.
