The group continues to develop and progress transformation and B-BBEE in respect of the South African businesses. During the year under review Nthwese Investment Holdings Consortium (Pty) Ltd, the company’s empowerment partner, sold down its shareholding. The Transformation Committee continue discussions with various B-BBEE groupings with suitable skills and stability with a view to concluding an empowerment transaction.
The group’s approach to B-BBEE verification is at subsidiary level rather than holding company level. The group subsidiaries will undergo respective renewal verifications later this calendar year.
Transformation and B-BBEE focus areas continue to include training initiatives, inclusive of learnerships, enterprise development initiatives and comprehensive socio-economic initiatives through the Chairman’s Fund. |
Blue Label contributed R3.5 million (2010: R3.1 million) to various projects via The Chairman’s Fund. The thrust of these contributions remained on youth development, HIV and Aids, and sports development with continuous support given to the Protea Glen Legacy Park and Nomonde’s Children’s Home and the Netcare Cranio Facial Programme in partnership with Vodacom.
Other charitable organisations supported, included Business Against Crime, Feed SA, Afrika Tikkun, Soweto Marimba Youth League and Malamulele Onwards.
Staff also actively participated in various charitable initiatives, collecting soup and blankets in winter, raising R18 000 in support of Madiba Day by selling home made products and including the children from the Soweto Mariba Youth League Band in the Family Day festivities. |
| Blue Label, through its major subsidiary TPC continues to provide financial assistance on an interest free basis to ZOK Cellular (Pty) Limited (ZOK). In addition, Blue Label provides management and strategic support and other resources to ZOK. The ZOK strategy aims to empower budding entrepreneurs from South Africa’s previously disadvantaged communities, by equipping them with a ready-made ZOK container equipped for a Fast Moving Consumer Goods retailing solution. The container is a licensed business unit designed as a self contained turnkey business with start-up stock for food retail, airtime starter packs and top-up airtime, public phones, fax facilities, internet services and ATM facilities. Placing ZOK containers in previously disadvantaged areas is intended to bridge the gap in telecommunications, ICT and banking services in such areas, as well as to uplift the communities in the areas served by the containers. |
| The group continues to support
those organisations which are
B-BBEE verified. |
