National corporate law firm, Cliffe Dekker has been awarded an 'AAA' rating by independent economic empowerment rating agency - EmpowerDEX.
An 'AAA' rating, denoting Cliffe Dekker as a Level Two contributor, is the second highest Black Economic Empowerment (BEE) rating achievable. It is equivalent to an overall BEE score of 85% to 100%. In terms of the Department of Trade and Industry's Codes of Good Practice released in November 2005, Cliffe Dekker is therefore recognised as a 'Good Broad Based Empowerment Contributor'.
Cliffe Dekker director, Brent Williams says the rating underscores the steps the firm has taken to transform so that it's owners and professional complement progressively reflect the diversity of the South African community. "It also recognises the firm's contribution to the broader social and economic transformation of South African society," he says.
Black professionals currently own 24.5% of the firm and enjoy 24.08% participation in its management. Black women professionals own 12.04% of the firm and enjoy 12.5% participation in its management while women professionals generally, own approximately 29% of the firm.
Williams says that the firm's national transformation committee is developing a revised strategy to further entrench its empowerment achievements. "There will be a particular focus on internal integration and race and gender diversity process management," he adds.
BEE ratings such as the one conducted by EmpowerDEX in respect of Cliffe Dekker, provide procurement decision makers and, authorisation and licensing decision makers, in the private and public sector, with an independent assessment and verification of a service provider or licencee's empowerment status.
Its 'AAA' rating entitles Cliffe Dekker's clients to recognize the firm as an accredited BEE service provider and moreover, entitles clients to recognize 125% of the firm's fees on clients' internal BEE scorecards as BEE preferential procurement.