Empowerdex

Empowerdex was founded in June 2001 by Witwatersrand University classmates Vuyo Jack and Chia-Chao Wu.{{Cite web |last=Monteiro |first=James |date=28 January 2010 |title=Black Jack |url=https://www.news24.com/fin24/black-jack-20100121 |access-date=2024-12-24 |website=News24 |language=en-US}} They ran the company from Jack's house using Wu's capital and consulted Moody's, the credit rating agency, for advice on their rating methodology.{{Cite news |last=Mtshali |first=Lihle |date=11 June 2007 |title=Over and above being a successful entrepreneur, Jack has recently published a book on BEE codes |url=https://www.sowetanlive.co.za/news/2007-06-11-over-and-above-being-a-successful-entrepreneur-jack-has-recently-published-a-book-on-bee-codes/ |access-date=24 December 2024 |work=The Sowetan}} Businessman Brian Joffe, then the CEO of Bidvest, was the first external investor.{{Cite news |last=Jack |first=Vuyo |date=6 June 2010 |title=Entrepreneurs must pursue dreams relentlessly |url=https://www.pressreader.com/south-africa/sunday-tribune-south-africa/20100606/282059093240103?srsltid=AfmBOorKFLzQOW1sXps-YPy2KoVF5lVlNcz5eCcEyvrSN0fywfMIoEBa |access-date=24 December 2024 |work=Sunday Tribune}}

In 2005 the Department of Trade and Industry announced plans to require accreditation of BEE ratings agencies, and the following year Empowerdex was one of eight founding members of the Association of BEE Verification Agencies (ABVA), an industry association founded to promote accelerate the accreditation process.{{Cite web |date=2006-02-06 |title=New watchdog to monitor BEE verification |url=https://mg.co.za/article/2006-02-06-new-watchdog-to-monitor-bee-verification/ |access-date=2024-12-24 |website=The Mail & Guardian |language=en-ZA}}

As of 2019, the firm said that it employed over 100 people and had served more than 6,000 companies as clients.{{Cite web |last=Magubane |first=Khulekani |date=11 April 2019 |title=B-BBEE verification company has certificate suspended following Agrizzi testimony |url=https://www.news24.com/fin24/b-bbee-verification-company-has-certificate-suspended-following-agrizzi-testimony-20190411 |access-date=2024-12-24 |website=News24 |language=en-US}}

Empowerdex is well known for publishing a ranking of JSE-listed companies which compares their performance across BEE metrics. Empowerdex first announced the ranking initiative in November 2002 and published the first list in March 2003.{{Cite news |last=Rose |first=Rob |date=5 November 2002 |title=Empowerdex Seeks to Test the Sincerity of Initiatives |url=https://allafrica.com/stories/200211060167.html |access-date=24 December 2024 |work=Business Day |via=allAfrica}}{{Cite web |last=Kew |first=Janice |date=7 March 2003 |title=Empowerdex launches BEE survey |url=https://www.news24.com/fin24/empowerdex-launches-bee-survey-20030306 |access-date=2024-12-24 |website=News24 |language=en-US}} The following year, it partnered with the Financial Mail to publish the rankings in a special supplement of that newspaper as the Top Empowerment Companies index;{{Cite web |date=19 April 2004 |title=Which is SA's most empowered company? |url=https://www.bizcommunity.com/Article/196/90/3377.html |access-date=2024-12-24 |website=Bizcommunity |language=en}} the first annual edition, published in April 2004, named Telkom as South Africa's most empowered company and became the Financial Mail's top-selling issue of the year.{{Cite web |date=2004-04-30 |title=Telkom — SA's most empowered company |url=https://mg.co.za/article/2004-04-30-telkom-sas-most-empowered-company/ |access-date=2024-12-24 |website=The Mail & Guardian |language=en-ZA}}{{Cite web |date=3 February 2005 |title=Empowerdex deadline pending |url=https://www.bizcommunity.com/Article/196/39/5676.html |access-date=2024-12-24 |website=Bizcommunity |language=en}} In later years, Empowerdex compiled the rankings for the Mail & Guardian's Most Empowered Companies index and, most recently, for Sanlam's Transformation Gauge.{{Cite web |date=2013-03-15 |title=The art and science of measuring empowerment |url=https://mg.co.za/article/2013-03-15-00-the-art-and-science-of-measuring-empowerment/ |access-date=2024-12-24 |website=The Mail & Guardian |language=en-ZA}}{{Cite web |last=Buthelezi |first=Londiwe |date=18 July 2023 |title='Transformation not as advanced as BEE scorecards suggest' – Sanlam report |url=https://www.news24.com/fin24/companies/transformation-not-as-advanced-as-bee-scorecards-suggest-sanlam-report-20230718 |access-date=2024-12-24 |website=News24 |language=en-US}}

In March 2019, in testimony before the Zondo Commission, former Bosasa executive Angelo Agrizzi alleged that Bosasa – a prolific state contractor – had paid an Empowerdex employee R40,000 in exchange for favorable BEE ratings.{{Cite web |last=Bezuidenhout |first=Jessica |date=2019-03-28 |title='I'm not surprised': Bosasa whistle-blower Angelo Agrizzi on learning of a death threat |url=https://www.dailymaverick.co.za/article/2019-03-28-im-not-surprised-bosasa-whistle-blower-angelo-agrizzi-on-learning-of-a-death-threat/ |access-date=2024-12-24 |website=Daily Maverick |language=en}} Empowerdex said that it had no knowledge of such a bribe but had initiated an internal investigation. On 4 April 2019, the South African National Accreditation System suspended Empowerdex's BEE accreditation for three months, citing the firm's "failure to comply with some of the accreditation requirements."{{Cite web |last=Magubane |first=Khulekani |date=15 April 2019 |title=Empowerdex still has 3 months to get in line with B-BBEE laws, says regulator |url=https://www.news24.com/fin24/empowerdex-still-has-3-months-to-get-in-line-with-b-bbee-laws-says-regulator-20190415 |access-date=2024-12-24 |website=News24 |language=en-US}} Empowerdex said that the suspension was linked to Agrizzi's testimony and that it had commissioned an independent forensic investigation.{{Cite news |last=Mashego |first=Penelope |date=14 April 2019 |title=Gobodo to probe graft claims at BEE agency |url=https://www.timeslive.co.za/sunday-times/business/2019-04-14-gobodo-to-probe-graft---claims-at-bee--agency/ |access-date=24 December 2024 |work=Sunday Times}} SANAS, however, said that there were prior complaints against the firm pertaining to the accuracy of its verification reports.

At the end of July 2019, Empowerdex reported that the suspension had been lifted in early July, that a SANAS investigation had identified "minor non-conformances," and that the independent investigation into Agrizzi's bribery allegations was ongoing.{{Cite web |last=Magubane |first=Khulekani |date=30 July 2019 |title=We're on top of Bosasa allegations – Empowerdex boss |url=https://www.news24.com/fin24/were-on-top-of-bosasa-allegations-empowerdex-boss-20190730 |access-date=2024-12-24 |website=News24 |language=en-US}}{{Cite news |last=Mashego |first=Penelope |date=28 July 2019 |title=Empowerdex back in biz, but Bosasa cloud lingers |url=https://www.businesslive.co.za/bt/business-and-economy/2019-07-28-empowerdex-back-in-biz-but-bosasa-cloud-lingers/ |archive-url=http://web.archive.org/web/20200811073400/https://www.businesslive.co.za/bt/business-and-economy/2019-07-28-empowerdex-back-in-biz-but-bosasa-cloud-lingers/ |archive-date=2020-08-11 |access-date=2024-12-24 |work=Business Day |language=en-ZA}}

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Category:2001 establishments in South Africa

Category:Black economic empowerment

Category:Companies based in Johannesburg