Indian software development outsourcer ZenSar says it will have a black economic empowerment (BEE) charter rating of 60 points by March 2008.
Executive VP of innovative technology solutions at the company V Balasubramanian says the company has a strong basis in the South African financial services market. It is looking to up its equity stakes in the country.
"India and SA need to collaborate, especially in line with skills. Collaboration will help both countries integrate globally," says Balasubramanian.
The company has a mandate from several of its local clients to attain a BEE rating of 40 and is in discussions with various stakeholders to see how best to achieve that.
He says the company is already between 18% and 20% BEE compliant. "However, our aim is to be fully, if not overly, compliant by the end of March next year. Essentially, we are aiming at a 60 scorecard rating."
The company is looking at various models to fulfil its compliance mandate. "One possibility is to take a stake in an existing BEE company, however, there are several issues involved with an equity deal like this," explains Balasubramanian.
The company employs staff in a 60:40 structure, with the majority of its staff in India, he says. "This poses a problem, because, according to the BEE charter, the majority of employment needs to be local."
Another possibility is to increase its rating through corporate social responsibility initiatives and other related activities inside the South African market, he says. "While we have not yet chosen the best method to become fully BEE complaint, we are still looking at social responsibility initiatives in SA."
The company is in discussions with several ICT colleges and universities, as well as with government institutions such as the Information Systems, Electronics and Telecommunications Technologies SETA to develop a South African software development internship programme in SA.
Share