HP announced it has obtained government approval on an equity equivalent investment in a broad-based black economic empowerment (B-BBEE) initiative, known as the HP Business Institute (HPBI).
The HPBI forms a significant part of HP's overall B-BBEE programmes.
HP's investments in all seven elements of B-BBEE will now exceed R150 million. HPBI is an enterprise and skills development programme aimed at existing employees and graduates in the small to medium enterprise (SME) ICT sector, focusing on developing scarce and critical skills in high growth areas of the IT industry.
These skills will be delivered through and into existing B-BBEE SME IT companies, thus enabling these companies to break through into the more sustainable high-end of the IT industry. The programme is designed to train 1 800 students over the next six-and-a-half years.
In conjunction with selected partners, HP will identify individuals who will be placed in short-term skills programmes and one-year learnerships. This will equip them with the necessary ICT skills, thus creating employment opportunities and helping to close the skills gap in the ICT sector. The first intake of graduates is scheduled for February 2008.
The announcement was made at the sixth meeting of the Presidential International Advisory Council (PIAC) on ICT.
"The HPBI initiative is aligned with the Department of Communication's national e-skills strategy, which aims to address the ICT skills requirements for the sector," says Ivy Matsepe-Casaburri, minister of communications.
The minister of trade and industry, Mandisi Mpahlwa, says: "As the first equity equivalent proposal to have been approved by government, we are pleased that another significant milestone has been achieved in the country's transformation process."
Francesco Serafini, senior vice-president and managing director of HP Europe, Middle East and Africa (EMEA), confirms that HP is committed to promoting empowerment and ascribes to the underlying principles of B-BBEE. "The announcement of HPBI is a major milestone for HP and will add value to the development of the South African economy."
"HP has always embraced the principles of B-BBEE and is committed to transformation in South Africa. Through HPBI, the company will continue to contribute to our country's economic growth by creating new jobs and opportunities for SMEs and ICT professionals, as well as addressing the skills shortages in critical areas," says Thoko Mokgosi-Mwantembe, CEO, HP South Africa.
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