In keeping with the company’s 51% minimum black ownership, it’s enlarged shareholder base is now around 51.68% and once there are further shareholdings identified, but not yet verified, this figure could be as high as 58.09%. In addition, a broad-based ownership scheme involving employees is planned for implementation which is likely to further enhance BEE ownership. “
Wescoal’s total spend on local economic development (LED) initiatives is approximately R5,33m for the past year. Corporate Social Investment (CSI) spend has also been a key focus of the company’s social responsibility programme of around R1,432m with a total community upliftment investment of R6,761m.
- Black Ownership