Internet service provider Verizon SA, formerly UUNet SA, has received a level-three broad-based black economic empowerment (BEE) rating of more than 80%.
The rating was awarded by independent rating institute EMEX.
At the end of last year, global communications group MCI - which was subsequently acquired by Verizon - sold 30% of UUNet SA to empowerment company J&J Group for an undisclosed sum.
Verizon SA says the stake forms a pivotal component to its ranking, with the remaining rating allocated for employment equity, supplier and partner procurement, enterprise development and social investment.
"This rating is an exceptional achievement for us," says Angela Gahagan, country leader of the African operations of Verizon Business.
"It allows us to address the issue of empowerment and transformation that is a growing requirement for our customers and partners, and places Verizon Business in a stronger position to offer globally competitive solutions to large African companies and government agencies."
Related story:
J&J buys 30% of UUNet
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