Africa Outlook MagazineAfrica Outlook Magazine
  • Magazine
  • Issues
  • Corporate Stories
    • Agriculture
    • Business Travel
    • Construction
    • Economy
    • Energy & Utilities
    • Finance
    • Food & Beverage
    • Healthcare
    • Manufacturing
    • Mining
    • Oil & Gas
    • Retail
    • Supply Chain
    • Sustainability
    • Technology
    • Transport
  • Business Insights
  • Industry Spotlights
  • Subscribe
  • Media Pack
Search
  • Media Pack
  • Testimonials
  • Work With Us
  • Meet The Team
  • Contact Us
  • Sign Up Today
  • My Bookmarks
  • Events
  • Outlook Features
©2023 Outlook Publishing Ltd. All Rights Reserved.
Aa
Africa Outlook MagazineAfrica Outlook Magazine
Aa
  • Magazine
  • Issues
  • Corporate Stories
  • Business Insights
  • Industry Spotlights
  • Expert Eye
  • Final Word
  • Agriculture
  • Business Travel
  • Construction
  • Economy
  • Energy & Utilities
  • Finance
  • Food & Beverage
  • Healthcare
  • Manufacturing
  • Mining
  • Oil & Gas
  • Retail
  • Supply Chain
  • Technology
  • Transport
Search
  • Home
    • Magazine
    • Business Insights
    • Corporate Stories
    • Industry Spotlights
  • My Africa Outlook Magazine
    • Sign Up Today
    • My Bookmarks
  • About Us
    • Media Pack
    • Meet The Team
    • Testimonials
    • Work With Us
    • Contact Us
Follow US
Business Insights > Article > BP Southern Africa Commits to Transformation
Article

BP Southern Africa Commits to Transformation

Editorial Team
By Editorial Team Published 12 Feb 2014
Share

BP Southern Africa (BPSA), one of the oldest companies operating in South Africa for over 90 years, has completed a major Broad Based Black Economic Empowerment (B-BBEE) transaction with two new BEE investors, as part of its continued commitment to meaningful transformation in the country.

BPSA’s commitment to transformation dates back several years.  In 2001 it became one of the first companies in the petroleum sector in South Africa to implement a BEE transaction with the Mineworkers Investment Company (MIC) and WDB Investment Holdings/WDB Fuel (WDB).

BPSA’s previous ownership structure was advantageous to both BP and the former BEE shareholders.  However, consistent with BEE legislation changes, BP has deepened its equity ownership structure to ensure a greater balance between economic and voting interest, which BP believes provides more sustainable transformation for the future.

BPSA has sold 25% + 1 share to two BEE partners, namely KAPELA and the BPSA Education Foundation, a Broad Based Black Economic Empowerment Trust.

The Kapela BEE consortium includes the Disability Empowerment Concerns Trust, which is a majority black  broad based trust with over two million people with disabilities as beneficiaries (at least 85% are black and 50% are women), as well as a majority black owned and managed private equity firm.  Kapela acquired a 20% +1 share and the BPSA Education Foundation acquired 5% of BPSA’s shares.

Mr Israel Skosana, Kapela Executive Chairman says:  “We are excited to be a shareholder in BP South Africa.  The acquisition of 20% + 1 share is a significant investment for us.  We are looking forward to partnering with the BPSA Education Foundation as shareholders, other members of the board of directors and management of BP South Africa in creating value for all relevant stakeholders. Together we can continue to contribute towards the socio-economic transformation of our beloved country. Ms Fatima Abrahams and I will be on the Board of Directors of BPSA”

The transaction was concluded after a competitive process where every bidder was treated in a fair and transparent manner.  The partners (MIC and WDB) were invited to participate in this process and during this time elected to extract value from their existing investment, enabling BPS’s new BEE structure. 

Mary Bomela, Chief Executive Officer of the Mineworkers Investment Company (MIC), noted: “Our sale of equity in BPSA was motivated solely by value considerations.  We have been invested in BPSA for over 10 years, and the relationship between BPSA and MIC has been mutually beneficial and remains affable. Our investment in BPSA has consistently performed to expectations. BPSA is a dynamic business with strong management and good future prospects. We wish the company and its new partners well in its future endeavours”.

Thandi Orleyn, BP Southern Africa Chairman, says:  “BPSA has a measurable track record in Broad Based Black Economic Empowerment and the announcement shows our continued commitment to South Africa’s transformation agenda and progress made in deepening various parts of our transformation.”

Through the BPSA Education Foundation, BPSA will contribute in meaningful and sustainable ways to enhance the standard of living and improve the well-being of previously disadvantaged, specifically black women and people with disabilities, through education and skills development.  This aligns with BPSA’s existing Community, Social Investment (CSI) as well as Skills Development programme.

Within Skills Development BPSA has established a progressive partnership with Wits on a Targeted Talent Program (TTP) and is investing R105 million over five years with R15 million spent in 2014 alone to enrich the lives of just under 1,000 students.  At its core, this enrichment program identifies talented pupils in underprivileged rural areas and guides them through specially developed engagements over a long term period (2 – 3 years) to prepare them for their final matric exams and for transition into the University environment.

The program has already produced some of South Africa’s top matriculants with 900 more pupils expected over the programs 6 year run.

You Might Also Like

How can Africa overcome barriers to digitalisation?

Dragonfly Aerospace : Sustainability from Space

A Bright Outlook for Director of the Year

Topical Focus : Celebrating 10 Years of Africa Outlook 

What legacy does your company hope to leave?

Editorial Team 28 Feb 2023 12 Feb 2014
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Email Copy Link
By Editorial Team
Follow:
The Editorial Team at Africa Outlook Magazine is a team of professional in-house editors led by Phoebe Harper, Editorial Director at Outlook Publishing.

Join us on Socials

Issue 101 Out Now

READ Current Edition
Subscribe to Africa Outlook Magazine

Latest Articles

WBHO Civils Main
WBHO Construction Pty Ltd : A Concrete Legacy
Construction
Africell Angola Main
Africell Angola : Transcending Angolan Telecoms
Telecoms
MultiChoice Mozambique Main
MultiChoice Mozambique : The Broadcaster of Choice
Technology
Three bottles of Coca-Cola
Coca-Cola Beverages Botswana
Food & Beverage
Msobo Coal Main
Msobo Coal : Mining in Majestic Mpumalanga
Mining
CMC Networks Main
CMC Networks : Pan-African Connectivity
Technology
James Howden Main
Howden Africa : Pioneering Engineering in Underground Environments
Mining
Arkalyk/Kazakhstan - May 15 2012: Aluminium ore mining and trans
Compagnie des Bauxites de Guinée (CBG) : Answering Aluminium Demand
Mining
Infinity Group Main
Infinity Group : Powering with Nature
Energy & Utilities
Serengeti Breweries Main
Serengeti Breweries : A Taste of Serengeti
Food & Beverage
Tietto Minerals : The New Face of Gold
Mining
TerraCom Main
TerraCom : Forging an International Coal-ition
Mining
Guinness Ghana 2022 Aggregators Clean-200
Guinness Ghana Breweries : Black Gold in Ghana
Food & Beverage
Marginpar Main
Marginpar Group : Flowering with an Innovative Touch
Agriculture
Axon Wireless Main
Axon Wireless : Trusted Technology for Digital Identities 
Technology
Ubuntu Towers Featured
Ubuntu Towers : Founded on Expertise
Telecoms
New road construction image
Basil Read : Foundation of the Nation
Construction

Most Read

Allterrain Services Group (ATS) : Anyway, Anyhow, Anywhere
Mining
ARC Power : Connecting Rwanda
Energy & Utilities
Renewable Energy in Nigeria
Energy & Utilities
Laeveld Agrochem : Protecting Plants for the People
Agriculture
One Acre Fund : Farm Support for the Future
Agriculture

Industry Events

Enlit Africa / 16-18 May 2023
Energy & Utilities
ADIPEC / 2-5 October 2023
Oil & Gas
Outlook Travel Magazin

You Might Also Like

Oil & Gas

How can Africa overcome barriers to digitalisation?

Jack Salter By Jack Salter 13 Mar 2023
Read More
Agriculture

Dragonfly Aerospace : Sustainability from Space

Bryan Dean By Bryan Dean 27 Feb 2023
Read More
Article

A Bright Outlook for Director of the Year

Rachel Carr By Rachel Carr 27 Feb 2023
Read More

My Africa Outlook Magazine

  • Sign Up Today
  • My Bookmarks

Africa Outlook

  • About Us
  • Meet The Team
  • Work For Us
  • Contact Us

Join us on:

Outlook Creative Services
Outlook Publishing

Work With Us

  • Work With Us
  • Testimonials
  • Media Pack
  • Event Media Partnerships
  • Creative Services
Africa Outlook MagazineAfrica Outlook Magazine
Follow US
©2023 Outlook Publishing Ltd.
  • Terms and Conditions
  • Privacy Policy
  • Cookie Policy
Welcome Back!

Sign in to your account

Lost your password?