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
We are committed to the objectives of BBBEE, and we endeavour to explicitly integrate the principles in our business. The revised property sector codes were promulgated during June 2017, and certain new requirements were significantly increased. We have made meaningful organisational changes to embrace the spirit of BBBEE, including forming a BBBEE committee. We are pleased to have received a level 3 rating in 2018, up from level 4 achieved in 2017. It remains a priority to improve our compliance with the codes.
In 2018, we made progress in transforming our senior level management by increasing African, Indian and
Coloured (AIC) representation from 7% to 22%. Our workforce is 54% female and 64% AIC, and we are pleased with the strides made towards achieving an improved board gender balance and diversity.
|Enterprise & supplier development||29.89||27.01|
|BBBEE contributor level||3.00||4.00|
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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