Dimension Data gains 51% BEE rating on sale to black women
Bodley said the group sold its iconic property, The Campus, to the black women-led Property Fund. He said the sale was part of a wider restructuring exercise to focus the group on its core business, with Dimension Data now currently occupying less than 50percent of The Campus. “For us, these were imperatives on many fronts, one to continue to show our commitment to South Africa and secondly continue relevance in the market and continue to trade,” Bodley said. “This year we are close to achieving BBEE Level 1.”
Bodley said the company had taken advantage of the continuing consequence principle after doing two previous BEE transactions in 2004 and 2012. The transactions transferred R1.26bn to its beneficiaries.
He said the group launched an employee share option scheme (Esop) that saw qualifying employees holding 15 percent of equity.
Bodley said the scheme would vest in three years and employees would be paid out in seven years.
“For me, it is the right approach. It is important that our staff are invested in the company and feel that they are making a meaningful contribution,” said Bodley, adding that he hoped the transactions would boost the firm’s competitiveness.
“There have been instances in the past where because of our BEE score, we were not able to trade in certain segments of the market.”
Bodley said the company had beefed-up its operating model, driven by a new go-to-market strategy which aimed to meet the clients’ future needs.
Dimension Data, a member of global telecoms giant the NTT group, also launched a new security business called Dimension Data Security, aimed at making it the biggest security provider in Africa and the Middle East.
Tony Walt, managing executive of security at Dimension Data Security, said security played a critical role for any business.
“We’ve built Dimension Data Security to make sure we’re offering world-class solutions to our Pan-African and Middle Eastern clients,” Walt said.