Kagiso Trust welcomes DTI gazette on BBBEE Act
The Kagiso Trust has welcomed the Department of Trade, Industry and Competition's government gazette on the Broad-Based Black Economic Empowerment Act.
Minister Ebrahim Patel published a Practice Note on Tuesday on "the Rules for Broad-Based Schemes (BBOS), Employee Share Ownership Programmes (ESOPs), Trade Unions, Not for Profit Companies (NPC), co-operatives and Trusts, juristic persons or other Collective Enterprises”.
Kagiso Trust Trustee, Reverend Frank Chikane said: "We thank the minister for understanding that organisations such as ourselves are an important and critical partner, along with government, private sector and society, in eradicating poverty."
"For many years, Kagiso Trust has been resolute in our drive to overcome poverty through quality education for all and economic transformation. It is for this reason that we have deliberately chosen to work with, and in, rural under-resourced communities."
The Trust has invested over R2 billion in development programmes, creating over 1 800 educational, local, and socio-economic development programmes.
"This will allow us to focus our resources, on the future of all our stakeholders, from our learners to our communities,” said Kagiso Trust chairperson Mankone Ntsaba.
"The needs remain great in this uncertain time of the Covid-19 pandemic. This clarification by the minister is vital to Kagiso Trust. It allows us to continue what we started over 35 years ago as a trusted partner in transformative development. This means a lot to Kagiso Trust, especially to the massive work we do in communities and to our beneficiaries."
Kagiso Trust is a shareholder of Kagiso Media, which owns and operates East Coast Radio and www.ecr.co.za.
