Page 26 - Transformation Report.indd

15. Conclusion

This report for the periods 2016 and 2017 provides ample evidence of
the commitment of the Group to transformation in its broadest sense
and the positive impact of the Group BEE standards and support to
advancing BEE and transformation at Group firms. In the absence
of these Group efforts it can be accepted that transformation,
particularly in respect of black professionals, would have been slower
The Group and and less sustainable. The following table summarises the extensive
expenditure on the various aspects of transformation by the Group
member firms have and member firms during 2016 and 2017 respectively:

spent in excess of Transformation expenditure
by Group and Firms during 2016 2017 TOTAL
R270 million on BEE 2016/17*
Annual Verification Cost of Firms R 300 000 R 240 000 R 540 000
and transformation Annual Verification Support to Firms R 480 000 R 540 000 R 1 020 000

during the periods Annual Employment Equity and Skills R 235 000 R 320 000 R 555 000
Development Support
of 2016 and 2017 Group Graduate Recruitment R 140 000 R 160 000 R 300 000

Phatshoane Henney Bursary Programme R 275 000 R 250 000 R 525 000

Skills Development Expenditure R 3 100 000 R 4 000 000 R 7 100 000
Phatshoane Henney Training Academy R 5 200 000 R 14 050 000 R 19 250 000

Enterprise Development Expenditure R 5 400 000 R 6 300 000 R 11 700 000
Pro Bono Support R 1 850 000 R 2 860 000 R 4 710 000

Socio-economic Development R 1 260 000 R 1 570 000 R 2 830 000
Expenditure
Community Support Expenditure R 950 000 R 1 050 000 R 2 000 000
BEE Procurement Expenditure R 106 500 000 R 120 000 000 R 226 500 000

TOTAL R 125 690 000 R 151 340 000 R 277 030 000

*Costs have been rounded off for ease of use. Most costs drawn from formal BEE verification results of firms during 2016 and 2017.

Despite the substantial monetary expenditure evidenced above, the
true investment in transformation by Group firms cannot be seen
or calculated but is encapsulated in the commitment of each firm
towards the true and sustainable empowerment of black persons
and women within their organisation, and in the recognition that
only by embracing the diversity of South Africa in its broadest sense
can each member firm truly become a new breed of law firm.

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