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BLACK ECONOMIC EMPOWERMENT
Embracing BEE
The company’s BEE plan objectives are:
• To address and redress the ownership and control of the organisation and its assets.
• To correct the imbalances in the staff demographics at IST through recruitment, educational financial aid, and learning and development.
• To give preferential consideration to sub-contractors as well enterprise development of such organisations
• To support the local community investment programmes.
Izingwe is an empowerment group whose formation was motivated by empowerment opportunities arising from changes in public policy. Izingwe has matured to become a significant investor in mining, engineering, infrastructure development and logistics. It is an active and long-term shareholder that makes focussed and value enhancing interventions in its underlying investments. Izingwe’s strategic partnerships with leading companies are critical to its investment strategy. In this regard, Izingwe has a number of significant partnerships with major listed companies, such as AngloGold Ashanti, Scaw Metals (Anglo American Group), Old Mutual Group and Aberdare Cables (Altron Group).
Aberdare Cables enjoys the participation and associated value add of having Izingwe’s Executive Chairman, Sipho Pityana, Financial Director, Tsakani Matshazi, and Chief Executive Officer, Ashley Alley on their board. Izingwe’s delivery and commitment to their partnerships has resulted in the company being identified as the primary partner of Altron’s Powertech subsidiary. This relationship entails a reciprocal commitment to focus on businesses that supply the power industry. We anticipate and look forward
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