Cosmetics industry gears up for empowerment plan

By Neesa Moodley - Business Report

Durban - As the cosmetics industry geared up for its black economic empowerment (BEE) plan, the steering committee said this week that the questionnaire that would be used to gather industry statistics was ready.

The industry is reputedly worth R7 billion in manufacturing alone and, according to Ruth Sanderson of the Cosmetic, Toiletry and Fragrance Association of SA, it has grown 15 percent in the past two years.

Herman Mashaba, the head of the steering committee and chairman of pioneer cosmetics company Black Like Me, said yesterday the Web-based questionnaire was the first step in establishing a starting point for drawing up a BEE plan.

An independent consultant, Michael Gristwood of Bizsolutions, will co-ordinate the results of the three-section questionnaire, which was designed with the assistance of SA Survey.

It was imperative to establish statistics for the industry so that the BEE plan could move forward, explained Mashaba.

Individual answers to questions would be kept strictly confidential.

 

Once respondents have forwarded their contact details to Gristwood, they will be sent a company code, and links to three Web-based questionnaires.

The reference year is 2004 so information collated is as recent as possible.

Companies will be required to reveal their total turnover as well as the percentage of turnover that can be attributed to contract packaging or contract manufacturing, total social investment expenditure and support to the formation or development of black economic enterprises.

Other questions include an ownership breakdown, with specific reference to percentage ownership by race and nationality.

Total annual employment costs are to include salaries, wages, overtime and bonuses, as well as employee benefits such as pension and provident funds, and medical aid.

The next industry stakeholder meeting takes place on February 23.

 

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