BBBEE
Eqstra Holdings and its subsidiaries have been certified as a Level 3 BBBEE contributor.
Broad-Based Black Economic Empowerment (BBBEE)
Eqstra recognises and fully supports the principles and necessity of BBBEE in South Africa. The group’s approach to BBBEE is focused around the principles of ownership, management control, employment equity, skills development, enterprise development, preferential procurement and corporate social investment. Eqstra complies with the relevant BBBEE legislation and has been rated as a Level 3 contributor. From an ownership perspective, Eqstra is black empowered at 28.6%, based on the modified flow-through principle as calculated by DECTI, an independent transformation management agency and corporate advisor, in its interim 2011 rating.
Ownership
Eqstra has two BBBEE partners namely Lereko and Nozala Investments.
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Lereko is 51% owned by the Lereko consortium and 49% owned by Imperial. The Lereko consortium is made up of Lereko Investments as well as community and women’s groups.
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Nozala is a broad based women’s empowerment group focused on investing in companies operating mainly in the resources, services (mainly mining services) and the information
communication sectors. Nozala was an existing shareholder in MCC and converted its shareholding into 8 272 000 Eqstra shares in 2008.
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