BEE plan for cosmetics sector

26 August 2004

South Africa’s mainstream cosmetics industry has begun the process of developing a black economic empowerment (BEE) plan which will include the majority of black firms in the sector.

The cosmetics industry, in partnership with the Department of Trade and Industry (DTI), has set up a steering committee to work on a draft BEE plan, following an agreement between the DTI and the Cosmetic, Toiletry and Fragrance Association of SA (CTFA) to start developing a BEE plan for the industry.

The steering committee will be chaired by Herman Mashaba, CEO of the multi-million rand Black Like Me hair products company.

Other members of the committee include Ann Gradidge, Nizam Kalla, Scott Maddock, Maude Mthethwa, Sipho Mahlobo, Alice Phatudi, Russell Pollard, Dave St Quintin, Ruth Sanderson, and Jill Gardiner.

Ruth Sanderson of the CTFA said the committee would decide whether the BEE plan should be made a fully-fledged charter for the sector.

The DTI said the initiative would involve all stakeholders in the cosmetics industry, covering local and multinational companies that manufacture, distribute, or import cosmetics, toiletry preparations, or perfumery.

Stakeholder report-back meetings will be held on a monthly basis.

“The steering committee will thus ensure that all stakeholders in the cosmetics industry have the opportunity to participate in the process and are kept fully informed of progress and, ultimately, of the draft BEE plan”, the DTI said.

To ensure that all stakeholders are included in this process, the DTI and CTFA have invited eligible companies to forward their details to the CTFA on tel (011) 475-2212, fax (011) 475-4951 or e-mail Ruth Sanderson.

Source: BuaNews