The support services sector recorded an impressive performance in the Top Empowerment Companies (TEC) survey for 2007, boasting two companies that featured in the list of the top 10 most empowered companies in SA.
Adcorp Holdings, the sector's winner, came third overall - up from seventh last year - while second-placed Bidvest was placed 10th, rising from 13th in 2006.
Most of the other big players in the sector also managed to increase their broad-based black economic empowerment (BEE) scores and move up in the overall index.
The biggest BEE story in the sector last year was surely the controversy over Bidvest's empowerment transaction with the Dinatla consortium.
Bidvest announced a deal in July 2003 that gave the Dinatla consortium a call option to buy 15% of Bidvest at a maximum of R60/share.
The deal was criticised at the time because empowerment experts said Bidvest shares would need to trade at more than R60 for Dinatla to benefit.
Controversy notwithstanding, Bidvest turned in a strong performance in this year's TEC survey. The group came second in the support services sector empowerment index with an overall score of 65%. Bidvest spent an effective R637m on enterprise development and R25,7m on corporate social investment in the 2006 financial year.
Primeserv Holdings (7th), Metrofile Holdings (8th), Winhold (9th) and Excellerate Holdings (10th) are all new entrants in the top 10 for the support services sector.
Waste management group, Enviroserv Holdings, took third place in the sector but only managed to rank at 44 in the overall survey with a total BEE score of about 47,5%.
Education, skills development and human resources group Advtech improved its BEE score to 46,3% from 29,3% in 2006. It ranked fourth in the sector and came in at 47 in the overall rankings.
Winhold and Excellerate both announced deals in 2006 that boosted the level of black ownership and participation in their businesses.
Mvelaphanda's BEE standing also showed a marked improvement - it moved up to fifth in the sector from eighth in 2006, and to 56th overall from 95th last year. It achieved a total BEE score of 43%, up from 23,2% last year.
