The Localization Strategy is an economic inclusive strategy meant to protect local businesses whilst providing a sense of ownership to the locals.
It does so by including local communities in the business operating within that community. Local communities are distinguished as doorstep and areas of influence.
Our strategy is borrowed from the DMRE localization strategy where mines collaborate with host communities for inclusive procurement and building better environments.
Our approach/role is to:
- To introduce localization strategy to local partners and investors
- Identify local partners with the capacity to provide services which are currently provided by non-local companies
- Where non-local companies lack capacity to form Joint Ventures with non-locals, with a sunset clause of three years minimum
- Ascertain whether the local partners meet the doorstep or area of influence criteria
- Verifying the current physical address of the candidates to the localization strategy
- Create and enforce family employee succession plan (an employee can nominate his/her successor if loss of employment is due to death, pension or in capability)
- Assist localizing partners to meet the criteria by creating formal structures
- Implement local security strategy
- Profile all malls and submit such information to insurance companies (where Localised will be at high risk of being torched than Highly Localised investors-from 0%-30%) where 0% Extremely High-Risk (HR) 0%-10% Low-Risk (LR) 10-20% Medium-Risk (MR) 20-30% Normal Risk (NR)
This will further ensure protection of tangible assets as evident by doorstep residents protecting surrounding businesses where they have vested interest. Our overall idea is to ensure a sense of ownership by locals where their participation in local businesses is more than being an end-user.
Localization Strategy Part
According to the Mining Charter III, a host community refers to a community within a local or metropolitan municipality adjacent to the mining area as defined by the Mineral and Petroleum Resources Development Act. Efforts are to be ensured towards supporting communities in the direct vicinity of local business operations.
Explanation of doorstep and zone of influence
