Afrimat’s commitment to real and tangible transformation is evident in its progressive strides made in BEE. In 2009 Afrimat escalated direct black ownership in the group to 26,1% when it assisted the Afrimat BEE Trust to acquire 15,8% of the company’s issued share capital, putting the group ahead of Mining Charter requirements for 2014. The group’s main BEE partners are now Mega Oils (Pty) Limited, a 100% black-owned company with historic ties to the founding companies in the group, and the more recently-established Afrimat BEE Trust benefiting black Afrimat employees.
Loyiso Dotwana represents Mega Oils on Afrimat’s board.
Broad-based BEE is continually being addressed through Ownership, Management, Employment Equity, Skills Development, Preferential Procurement, Enterprise Development and Socio-Economic Development as set out in the Department of Trade and Industry’s Codes of Good Practice. Progress is measured annually and currently Afrimat’s significant trading subsidiaries are mostly rated as level 5 BEE contributors.
Of the group's 1 500 strong workforce 82% are historically disadvantaged individuals.
With these employees in mind, in early 2010 Afrimat widened the pool of eligible participants in the BEE Scheme administered by the Afrimat BEE Trust and established Funding SPVs to assist with share subscriptions under the BEE Scheme administered by the Trust.
.
This site is best viewed at 1280 x 768 in IE7 and Mozilla Firefox.
Designed and developed byMaxx Corporate Communications
