AFRICAN EQUITY EMPOWERMENT INVESTMENTS LTD (AEEI) SCOOPS PRESTIGIOUS EMPOWERMENT AWARD

22 November 2016
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AFRICAN EQUITY EMPOWERMENT INVESTMENTS LTD (AEEI) SCOOPS PRESTIGIOUS EMPOWERMENT AWARD

JSE listed African Equity Empowerment Investments Limited (AEEI) was lauded as it claimed First Place at the prestigious Independent/Empowerdex Top 100 Companies 2016 Awards ceremony, held on 6 October 2016.

As chief executive officer of one of South Africa’s largest black economic empowered investment companies, Mr Khalid Abdulla received the award on behalf of AEEI with delight and said, “It is with great honour and humility that I accept this award on behalf of all at AEEI. Since the company’s inception, we have been working hard at becoming the top black economic empowerment company in the country. It is truly gratfiying to know that our hard work has officially been recognised, while also being acknowledged by our peers as a pioneer in promoting the interests of Historically Disadvantaged Individuals and previously marginalised communities.”

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AEEI has been rated as a Level 1 Broad Based Black Economic Empowerment company because:

  • It is a majority black-owned and black controlled investment holding company based in South Africa;
  • It posts top consistent, financial performance based on profitability, asset growth and cash generation;
  • It holds a diversified porfolio of strategic investments, some with international partners as well as investments in food and fishing, technology, health and biotherapeutics, biotechnology and enterprise development supporting BBBEE and small, medium and micro enterprises (SMMEs);
  • It is a company that also has strong roots among historically disadvantaged individuals (HDIs) and community organisations, many of whom form the majority of the Group’s shareholder base.
  • Has Black ownership that exceeds 80% – of which 30% are women, and the majority of its economic benefits are enjoyed by black stakeholders.

Joining Abdulla at the awards ceremony was Reverend Professor Vukile C Mehana, non-executive chairman of the board of AEEI. Smiling broadly, Mehana said: “The successful story of African Equity Empowerment Investments Ltd (AEEI) in the Top 100 Empowered awards rankings, underlines two important points; The first is that with vision, careful planning and determination, it is more than possible to develop a strong team of black managers, especially when the leadership itself takes ownership for human skills development and growth. The second is that transforming a company is much easier to execute when the organisation is financially thriving and an inclusive business model is adopted and shared by everyone in the organisation. Without our focus on BEE and on our people, we would not be in the position we are today – and it’s a great feeling!”

All the AEEI Group subsidiaries and operations have shown consistent good profits and an increase in asset value and cash flow. Operations in marine and IT have shown outstanding performances due to strategies to extract efficient organic growth and synergies within the broader Group.

The Group’s growth also includes strategic investments in British Telecomms, SAAB Grintek Defence, the listed financial services company Sygnia Asset Management and Pioneer Foods.

BROAD BASED BLACK ECONOMIC EMPOWERMENT

VERIFICATION CERTIFICATE

as at November 2015 to October 2016

Weighting
ELEMENTS POINTS ACTUAL SCORE
Ownership 25 25.00
Management Control 19 16.74
Skills Development 20 25.00
Enterprise and Supplier Development 40 30.73
Socio-Economic Development 5 5.00
Total 109.00 102.47

 

Broad based BBBEE Status level Level 1
BBBEE Procurement Recognition Level 135%
Black Ownership 83%
Black Women Ownership 36.2%

Abdulla concluded by remarking: “To the best of our knowledge, AEEI is the only successful black economic empowerment company to be awarded not one, but two BEE Top Company awards in as many months. We are truly honoured to be recognised in the market place for our BEE status, and our continued financial growth and asset base that increases our shareholder value year on year. We thank all our stakeholders, board members, executive management team and our employees for their contribution to this award, wihtout whom none of this would have been possible and with whom, we can look forward to even greater things.”