EnviroServ Contributes Meaningfully to Transformation
EnviroServ is a leading African waste management company, a position we do not take for granted. We recognise that to retain our leadership position and remain relevant to our customers, we have an obligation amongst others, to contribute meaningfully to the transformation of the South African economy, especially the waste management sector.
In keeping with our commitment to transformation and empowerment, our approach is to demonstrate our resolve through action. We are proud to have achieved our objective of introducing significant black shareholding in our South African operations of the group.
We have recently concluded a broad-based black economic empowerment transaction in terms of which 30.01% of the issued share capital of EnviroServ Waste Management devolves into the hands of black women.
This is a flagship empowerment initiative in our group and we are excited to welcome our new stakeholders into EniroServ and to afford them an opportunity to participate in the mainstream of the South African economy. We further believe that it will positively impact the transformation of the waste management industry and afford our customers enhanced B-BBEE recognition for their waste management spend.
We are currently a Level 4 B-BBEE contributor in terms of the revised Codes of Good Practice and this by no means signal the end of our transformation and empowerment journey. We recognise that more can and must be done, and accordingly commit ourselves to accelerating our transformation activities.