COMPANY POLICY REGARDING PREFERENTIAL PROCUREMENT
The Management of Yuppie Gadgets and its subsidiaries recognizes the long – term economic benefits to be had by the company, as well as the country as a whole, should the entire business community embrace the concept of “Preferential Procurement” as envisaged by Broad Based Black Economic Empowerment (BBBEE) legislation.
When procuring new goods and services, the person responsible for the procurement will attempt to ascertain the BBBEE status of prospective suppliers and will attempt to ascertain the BBBEE status of prospective suppliers and will give preference to a supplier with higher BBBEE contribution level.
For procurement from existing suppliers the persons responsible for procurement will consider the BBBEE status of competing suppliers and will give preference to a supplier with higher BBBEE contribution level to the extent that this can be ascertained. However, as the Company in pursuing our preferential procurement policy, we will give due consideration to the quality, price and the goods and services being procured.
Yuppie Gadgets has a Level 4 BEE status.
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