BEE partnership launched
2007-08-23
THE owners of Diemersfontein farm in Wellington, David and Susan Sonnenberg, have warmly embraced the Black Economic Empowerment (BEE) policies of the present government, by allocating a 30% share (R750 000) of an empowerment partnership, Thokozani staff holdings, to employees.
The Sonnenbergs handed over certificates to the 43 beneficiaries at a ceremony on Thursday 18 August at the Diemersfontein estate.
Another thirty percent shares have been sold to external investors, principally through a consortium of professional and business managers headed by Jacques Heyde.
The rest of the shares, 40%, remains in the possession of Diemersfontein Group.
Thokozani now owns some cottages and building sites on the estate that will provide additional accommodation for delegates attending Thokozani conferences.
The company also owns a wine label producing three wines, as well as 60% of the newly formed Thokozani Art Gallery.
Former journalist Ryland Fisher, author of the book Race concerning black empowerment, said at the ceremony that he had seen too often how BEE had been abused.
“I have seen in some BEE deals how it was all about personal agendas to get rich quickly.
“But there is something different at Diemersfontein. I looked at the business model and I am convinced that it will work,” Fisher said.
According to Sonnenberg, the shareholders of Thokozani staff holdings commit to developing skills and understanding the small business principles by attending training sessions.
“Having been allocated a block of shares in ex-change for a future minimum five year commitment, they also will be acquiring additional shares by contributing a small salary amount monthly.”
Sonnenberg also added that it was their belief that medium-sized business within the wine and hospitality industries have a contribution to make towards the development of their own employees, both from a family wealth as well as a skills development point of view.
“We wish to enable the development of a company that would facilitate personal development of employees, insisting on mutual commitment and making use of the existing facilities and resources of the Diemersfontein estate to launch a company within a company.
“However, it is intended that as the company develops, its individuals and its activities will be free to grow in directions outside of the parent company, developing independence and ability to function in the broader economy.
“Our focus will be on the development of business mindedness, professionalism and high standards in our working life.”
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