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Top Empowerment Companies 2009

03 April 2009 Xerox. The OriginalXerox. The Original

SECTOR: Food & beverages

8 - Tongaat Hulett





Revenue: R6,3,1bn (Dec 07);
Total BEE score: 7
Pref proc: 12,46%;
Ownership score: 21,6;

The sugar milling group Tongaat Hulett has made a habit of featuring in the high rankings of the Top Empowerment Companies survey. Tongaat concluded a BEE deal in 2007 in which it transferred about 25% of its shares to black groups, including Ayavuna Women's Investments and Sangena Investments. But Tongaat has been on the BEE trail for quite some time, having facilitated the development of small black farmers for its supply chain. As such it claims about 13 points out of 20 in preferential procurement and 13,7 out of 15 for enterprise development. The group is sitting with black voting rights of 43% and black economic interest of 37%. It scores 6,9 out of 10 from the management element.







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