Iron Mountain South Africa achieves level 2 B-BBEE certification

Kazi Capital has over 25 years of investment banking, corporate finance, Broad-Based Black Economic Empowerment (B-BBEE) advisory, investment origination, execution and management experience as well as an in-depth understanding of investment fundamentals in the alternatives’ asset class.

The 30% ownership of Kazi Capital moves Iron Mountain South Africa’s B-BBEE Scorecard from Level 5 to Level 2 compliance. The B-BBEE legislation is aimed at addressing historical imbalances of the country by facilitating the participation of black business owners, stakeholders, and employees in the mainstream economy. The act also gauges a company’s empowerment/diversity level. Companies are rated based on the scorecard weighted on elements that not only look at ownership, but other areas such as management, employment equity, skills and enterprise development, preferential procurement, and socio-economic development.

The act is important for companies operating in South Africa as it opens more opportunities in the formal South African economy as businesses favour conducting partnerships with companies who are compliant. Government agencies are also favourable in doing business with companies with high scorecards, and the government also gives tax incentives and financial grants aimed at B-BBEE programmes.

One of Iron Mountain’s key values is diversity and inclusion; as such, B-BBEE forms a part of one of our key values that drive our organisation globally. In South Africa, the B-BBEE Scorecard allows us to effectively drive diversity and inclusion throughout our business from resource development, diversity of our leadership, teams, as well as our overall supply chain.

Iron Mountain proudly supports and adheres to the principles of the B-BBEE Act. Our Level 2 B-BBEE Certificate rating reinforces our commitment to promote economic transformation and equality in South Africa.

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