Broad Based Black Economic Empowerment Procurement

An effective Diversity Supplier Program is an essential part of LexisNexis selling success. At LexisNexis South Africa, the preferential procurement element which we utilize, measures the extent to which enterprises implement initiatives aimed at widening market access to other enterprises that meet specified Broad Based Black Economic Empowerment (BBBEE) criteria.

LexisNexis South Africa aims is to implement a procurement strategy to increase its procurement from companies that have made significant progress in the area of BBBEE and are rated as Good or Superior Contributors to BBBEE. This will be based on a broad based evaluation methodology.

We aim to achieve the following with regard to Procurement in the next 5 years:

• a minimum of 70% of spend on BBBEE compliant suppliers;
• an increase of our Procurement spend on small & micro BBBEE compliant enterprises;
• an increase of our Procurement spend on suppliers that are 50% or more black owned; and
• an increase of our Procurement spend on suppliers that are 30% or more black owned.

In order to achieve this, where possible, we will focus on enterprise development to increase our empowerment supplier base. BBBEE procurement criteria are an important part of our Tender process. We also actively encourage existing suppliers to address BBBEE and to become accordingly accredited.