Cedar Park’s BBBEE Status
Cedar Park Hotel has officially been rated as a Level 4 Contributor on the relevant BBBEE Small Business Scorecard.
The Vuk’uzenzele Trust was registered in 2004 with a 26% shareholding in Ritz Trade 115 (Pty) Limited, Cedar Park’s parent company.
The Business is currently a black empowered enterprise in that 26% equity interest is owned by blacks. The current directorship is Randy Moniez and Lydia Nkabinde.
The Business sets as target that black representation at Top-Manager level will increase to 50,1%. It currently stands at 43%.
The aim of the employment equity is as follows:
To align Employment Equity targets with Skills Development programmes and objectives
To embark on diversity management programme for all employees at all levels
To focus specifically on the participation of black people, including black women, in the first-line decision-making process
To ensure that black people, including black women, participate at all levels of management of the Business, especially at operational level.
The Business employs 45 people at present of which black people represent 82.2% and black women 49%.
To increase the amount of money spent on procurement from BEE-compliant Enterprises and those that score at least 30% on the relevant BEE Scorecard. The aim is also to support Black owned and Black women owned businesses.
Procurement from the above Enterprises will ensure that the ripple effect of affirmative procurement is realized throughout the economy.