Parnis is proud of its role in assisting in the set-up of Simtrade CC, a 100% black owned entity, which we actively assist with skills transfer and to which Parnis regularly outsources work. Simtrade CC currently turns over around R2 million per annum.
In the last year, Parnis has been instrumental in setting up two further companies through which Parnis will achieve its transformation objectives. The first of these, Magic Time Trading (Pty) Ltd (“MTT”), is a company comprising six Parnis employees drawn from diverse skills backgrounds. MTT is a 100% black owned and controlled company and 35% of its shares are held by black women. The second company, Manop Solutions (Pty) Ltd (“Manop”) also consists of Parnis employees. Manop is a 51% black owned entity and its director is a black female.
Relationships with MTT and Manop will take the place of either sub-contracting or joint ventures and will be regulated in terms of formal legal agreements which set out the rights and obligations of all parties to the relationship. In addition, Parnis has entered into formal skill transfers agreements with both MTT and Manop. Progress against the contracted skill transfer undertakings are monitored on a regular basis and detailed records are kept, thus ensuring that the agreed objectives are being met.