Committed to transformative change
The sustainability of our business is inherently tied to the stability of our social context. We realise that the socio-economic challenges facing our country are immense, and we are committed to contributing to meaningful change.
We seek to create long-lasting, robust and broad-based benefit for the broader South African society. We believe that by empowering South Africans through education, we can go a long way towards overcoming the barriers to transformation and, at the same time, create the skills that the country needs.
In keeping with this focus, Redefine established an empowerment trust, issuing to the trust shares valued at approximately R3 billion.
The trust, which has been structured as a capital-preserving trust, will continue in perpetuity. Its primary focus is on activities to improve education and training through the provision of scholarships, bursaries and community development programmes.
The trust operates independently and is managed by external independent trustees and will commence with its activities once it has access to disposable income.
Level 3 contributor
Redefine acknowledges that transformation is key to our long-term growth and sustainability and while it plays a vital role in accessing business opportunities, it goes beyond mere compliance. In focusing on the achievement of our transformation strategy,
Redefine will continue to contribute to the growth and transformation of the property sector and by extension South Africa.
In 2019 Redefine retained its Level 3 B-BBEE contributor status in accordance with the amended Property Sector Code. Although the 2019 operating environment was challenging and we anticipate that 2020 will present similar challenges, we will continue to drive the achievement of our greater transformation goals. These can only be delivered through concerted efforts that will be implemented throughout the group’s operating model and backed by a strong empowerment strategy. Efforts are already underway to do so through a number of initiatives specifically focused on areas such as preferential procurement, enterprise and supplier development, employment equity, economic development as well as skills development.
Level three (3) contributor
Redefine has been rated against the B-BBEE codes of good practice published by the Department of Trade and Industry and has achieved a Level three (3) contributor status. We are committed to the objectives of Broad-Based Black Economic Empowerment (BBBEE) and we endeavour to explicitly integrate the principles in our business. We have made meaningful organisational changes to embrace the spirit of BBBEE, including forming a BEE committee that will continue to track and measure our metrics. It remains a priority to improve our compliance with the codes.
Redefine BBBEE Certificate:
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