Super Group implemented its B-BBEE share ownership scheme for its South African operations on 1 October 2012.
Part of the process involved restructuring the South African business operations in order to enter into a 10-year B-BBEE transaction with our South African black employees. The restructuring by Super Group was to ring-fence the South African operations, which comprise of the Supply Chain South Africa, FleetAfrica and Dealerships Divisions, under Super Group Holdings (Pty) Limited, currently a subsidiary of Super Group.
A newly incorporated company, SG Tsogo (Pty) Limited acquired 20,04% of the capital of Super Group Holdings and in return issued shares to Super Group. SG Tsogo issued 50,01% of its shares to a black employee trust, being the SG Tsogo Empowerment Trust. The result is that the South African B-BBEE employees of Super Group effectively own 10,04% of the South African operations under Super Group Holdings.
As part of the process, we have appointed Dr Enos Banda, an existing non-executive director of Super Group, Kamogelo Mmutlana, Chief Executive Officer of FleetAfrica, and Jogie Matlakala, a Super Group Executive in Group IT for the past four years, as additional directors of the Super Group Holdings Board. Their appointments were effective 1 October 2012.
“We believe that B-BBEE is a key requirement for the promotion of sustainable economic growth and social development in South Africa. The rationale for implementing our B-BBEE Scheme is for the B-BBEE employees to benefit from the growth and performance of the South African operations.”
Metropolitan Oliver Empowerment Award
2009 – “Top Empowered Company in the Transport sector”
2010 – “Top Empowered Company in the Transport sector”
Financial Mail “Top Empowerment Companies” Survey
2008 - “Top Empowered Company in the Transport sector”
2009 - “Top Empowered Company in the Transport sector”