Sustainability > Social Performance > Transformation

Sustainability

Social Performance

2011 highlights

R28 million of a planned R60 million (over five years) spent on local economic development projects approved by the Department of Mineral Resources.
79% of total procurement representing R2,4 billion spent with BBBEE suppliers.
Corporate social investment spending rises to over R9 million with formal initiatives extending to Botswana and Zimbabwe.

Achieving REAL transformation beyond compliance

PPC is committed to the national broad-based socioeconomic transformation objectives of South Africa beyond 2014. PPC's transformation path continues to be guided by PPC's REAL transformation philosophy, which is at the heart of all its initiatives and refers to transformation that is relevant, empowering, actualised and lasting.

PPC consulted and engaged with various national and provincial government departments and municipalities during 2008 in pursuit of realising its REAL transformation objectives.

Creating business opportunities for black partners beyond 2010

PPC is firmly committed to black economic empowerment in South Africa and recognises that meaningful participation by black people in the mainstream economy is essential to sustain the country's socio-economic objectives.

PPC has realigned its shareholding to include broad-based groupings of black shareholders, including employees and communities. This culminated in the announcement of a broad-based black economic empowerment transaction.

Achieving a sustainable broad-based ownership

The Broad Based Black Economic Empowerment (BBBEE) transaction created and transferred equity into black hands through various broad-based trusts, a consortium of four Strategic Business Partners and two Community Services Groups.

The equity distribution to achieve this sustainable and all encompassing transaction was as follows:

Strategic Business Partners
Community Services Groups
PPC Education Trust
Community Trust
Current and Future PPC Team Trust
PPC Team Benefit Trust
Black Non-Executive Directors Trust
PPC Construction Industry Associations Trust
Black Managers Trust

Releasing REAL empowerment value to the beneficiaries beyond compliance

The total value of the BBBEE transaction is R2, 7 billion, which represents 15,29% of the value of PPC. The funding of this transaction has been achieved through innovative funding structures that release the maximum benefit to the broad-based participants at the earliest possible time through the payment of dividends.

PPC (Cement, Lime, Aggregates)