Make Nkosi’s Haven your Black Economic Empowerment Partner (B.E.E.)
What is the B.E.E. Initiative?
In South Africa after the demise of Apartheid the government embarked on a system through which to spread the wealth of the country to the broader base of its citizens.
To this end, various different industries in the country committed themselves to redistribute a certain portion of the shareholding of organizations in particular industries to previously disadvantaged individuals.
Although this endeavor at the time was done with the greatest of intentions it has had some adverse effects.
As an example the mining and fuel industry through the Department of Energy committed themselves to ensure that at least a 26% shareholding of companies within these industries will be held by previously disadvantaged individuals and or organizations.
It is to this end that the Mining and Petroleum fuels industry charters were agreed to.
International fuel companies, as an example, committed themselves to the Petroleum Industry Charter which states that each of these companies will ensure that at least 26% of all fuel distributed throughout the country will be done through companies owned and operated by previously disadvantaged individuals and or organizations.
Unfortunately, however, since then, the same individuals have positioned themselves to be beneficiaries of this arrangement. Some of these individuals have become multi billionaires in the process and those at whom the arrangement was targeted are still living in abject poverty.
Why take on a B.E.E. partner?
Recently, RTJ Fuels has bucked the trend in this regard and has taken Nkosi’s Haven on as its B.E.E. partner for two reasons namely:
- The partnership will create job opportunities for the current residents of the Haven. This would include the mothers of the children. This partnership help creates job opportunities in a country and environment where opportunities are otherwise extremely scarce.
- The Haven, now owning 26% of this company as a fully fledged shareholder, should generate enough capital to enable it to become self-sustainable and less dependent on donor funding. Donor funding can therefore be applied in specific targeted areas where it is most required.
South Africa is facing a medium to long term social catastrophe.
This is due to the fact that there are roughly two and a half million HIVAIDS orphans in the country. These children are growing up without parental guidance, discipline and or a proper education.
Their only means to survival is to revert to crime in a country where crime is already out of hand purely to survive. RTJ Fuels has through entering into this shareholding agreement with Nkosi’s Haven taken a small step towards addressing this social dilemma.
With more organizations taking this approach we collectively will be able to not only address one of the greatest challenges we are facing as a nation but we would also create job opportunities for the most marginalized people within our society.
These are the people for whom the whole BEE approach was created in the first place and this would truly uplift our society in the manner it was originally intended and adhere to the agreements we made as a government and the private sector.
How to make Nkosi’s Haven your B.E.E. Partner
If you are interested in finding out how to make Nkosi’s Haven your B.E.E. partner, please do not hesitate to contact Gail Johnson, Director of Nkosi’s Haven, at firstname.lastname@example.org, or via the contact information provided on our contacts page.